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Buyer not meeting Sellers conditions of sale

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  • Buyer not meeting Sellers conditions of sale

    Incognito for obvious reasons. Situation is as thus:

    Seller accepted buyers low offer based on condition of quick sale and horse must ship quickly, and verbalized these conditions.
    Buyer gave deposit.
    Seller has not cashed.
    Horse vetted.
    No written contract as of late.

    Buyer is not able to meet Sellers conditions of quick sale ie finalize and move horse.


    Deal, or no deal based on Buyers inability to adhere to conditions of sale?

  • #2
    Depends on you---do you want to find another buyer? Than return the deposit. If you like the buyer and want to work out something else with them than sit down together and put the deal in writing.

    Comment


    • #3
      Is the problem transport or the rest of the money?

      If it is transport, think about getting the money and then board said horse until shipper can be found (for cost of expenses for 30 to 60 days).

      If it is the money, re-evaluate and communicate.
      Luistano Stallion standing for 2013: Wolverine UVF
      http://www.youtube.com/watch?v=8IZPHDzgX3s

      Comment


      • #4
        Aside from the quick time frame issue, I think the problem Sellers are having is the "bend over" price the Buyers offered, which was said to be based on the fact that that was all the money Buyers said they had. Less than half of the asking price. Yes, Sellers really liked Buyers and agreed on price, but only if sale happened quickly. Sale is a very emotional one for Sellers, so Sellers just wanted sale completed quickly.

        Sellers found out details about other horses Buyer was looking at. Several levels below Sellers horse's level and asking price 15-20 more than what Buyer offered Seller. Hum! Sellers know one of the other sellers, who is known for selling very high priced horses. Sellers do not want to give horse away nor do Sellers need to.

        Hence Sellers feel shafted because of "bend over" price when there was potentially more budget available, and also Buyer sticking to time line. Potential Seller's remorse.

        Comment


        • #5
          I would return the deposit and keep the horse BUT that is probebly just me - I hate it when people "take advantage of" and that what is sounds like to me ~ IMHO
          "Quickly Done" is Quickly done and this is not !
          Last edited by Zu Zu; Jul. 29, 2010, 09:16 AM. Reason: addition
          Zu Zu Bailey " IT'S A WONDERFUL LIFE ! "

          Comment


          • #6
            Originally posted by AlterumIctumFaciam View Post
            Aside from the quick time frame issue, I think the problem Sellers are having is the "bend over" price the Buyers offered, which was said to be based on the fact that that was all the money Buyers said they had. Less than half of the asking price. Yes, Sellers really liked Buyers and agreed on price, but only if sale happened quickly. Sale is a very emotional one for Sellers, so Sellers just wanted sale completed quickly.

            Sellers found out details about other horses Buyer was looking at. Several levels below Sellers horse's level and asking price 15-20 more than what Buyer offered Seller. Hum! Sellers know one of the other sellers, who is known for selling very high priced horses. Sellers do not want to give horse away nor do Sellers need to.

            Hence Sellers feel shafted because of "bend over" price when there was potentially more budget available, and also Buyer sticking to time line. Potential Seller's remorse.
            But who is to say they would not have offered less than half the asking price of these other seller's horses. Apparently, they have been looking at horses above their price range all along.
            Auventera Two:Some women would eat their own offspring if they had some dipping sauce.
            Serious Leigh: it sounds like her drama llama should be an old schoolmaster by now.

            Comment


            • #7
              I'm going through the same thing. Actually let a horse go out on trial for the first time ever. They love the horse but saw old ad about possible lease available. Now they want to extend into "lease" and not purchase the horse. I have to sell- so I told them to bring it back and I'll sell it to someone else. I loved the potential buyers- but business is business.

              Comment


              • #8
                IMO, the "bend over price" shouldn't have anything to do with it. It's the fact that "quick sale" was a requirement, and has not yet been met. With no contract, IMO, the seller is entitled to either extract immediate payment and shipment of the horse, or call off the deal and return the deposit. Pretty clear cut, if you ask me.
                In loving memory of Laura Jahnke.
                A life lived by example, done too soon.
                www.caringbridge.org/page/laurajahnke/

                Comment


                • #9
                  Yet another example of why a written sales contract is so important. The agreed price is the agreed price, regardless of whether Seller considers it a "bend over" price, regardless of whether Buyer has been looking at higher-priced horses, and regardless of any other extraneous information. Seller and Buyer agreed on Price X.

                  "Quick sale" is problematic here. A written contract was needed that stated something along the lines of: "Buyer will render balance of $XXX to Seller and take possession of horse no later than XX:XX AM/PM on DATE X." Then Seller has a clear cut-off; if Buyer doesn't come with cash in hand and take the horse by that date and time, sale is null and void.

                  If the Seller is really unhappy with the situation, I agree with others who said s/he should just return the deposit and keep the horse. And next time, write up a proper sales contract that spells out each party's responsibilities clearly, including a timeline for key actions like paying for and taking the horse, and consequences of failure (e.g., Seller keeps deposit).
                  Equinox Equine Massage

                  In the depth of winter, I finally learned that there was in me invincible summer.
                  -Albert Camus

                  Comment


                  • #10
                    I agree that the "bend over price" has nothing to do with it, but Sellers are feeling shafted because of scenario all around. Sellers know price offered by Buyer on other horse. More than what Buyer offered Seller on Seller's horse. Sellers sound happy there is no contract written up, Buyer breeched conditions, and Seller does not have to sell horse or give away at "bend over price".

                    Comment


                    • #11
                      Originally posted by AlterumIctumFaciam View Post
                      I agree that the "bend over price" has nothing to do with it, but Sellers are feeling shafted because of scenario all around. Sellers know price offered by Buyer on other horse. More than what Buyer offered Seller on Seller's horse. Sellers sound happy there is no contract written up, Buyer breeched conditions, and Seller does not have to sell horse or give away at "bend over price".
                      What? Why is Seller psyched that no written contract exists? Wouldn't that make it easier to wrap this up one way or another?

                      I think Seller needs to grow up. What Buyer pays or does with other people is immaterial. You also report that Seller wanted the horse gone fast for emotional reasons but now "doesn't have" to take the bend over price. Well, which is it?

                      Whatever I have to say about the Seller, it does seem clear that the Buyer has broken the verbal deal and the Seller shouldn't have a hard time forcing them to finish it one way or another.

                      Maybe I have misunderstood. But I do think Seller would end up happier if he/she just decided what's most important-- horse gone, a certain number of dollars or not to be taken advantage of. No problem putting the last one at the top of the list, but it's an emotional thing in itself and tends to cost some money to attain.
                      The armchair saddler
                      Politically Pro-Cat

                      Comment


                      • #12
                        You need to forget about the other deals. You have no idea what that was all about, or if the buyers were even serious. The deal you made is the deal YOU made. Anything else the buyer does with his time isn't really your business, nor has it anything whatsoever to do with your deal with them. You made the deal. Either you like it or you don't, either they buyers are coming through on the deal or they aren't. You can decide to cancel the deal if they haven't come through.

                        I have to assume you wouldn't have made the deal if it wasn't what you wanted to do. For you to chew on something unrelated to that deal will wear you thin real quick. Take the horse back and cancel the deal or give them a deadline and close the deal, its up to you.

                        What I got from your OP was that you want a quick sale, and gave a low price so the horse would get the right home and move soon. How does finding out the buyers could have afforded to give you more come to play on it? You didn't ASK for more. You asked for what you asked for, and either you get that or not.

                        Be happy the buyers have more money than you realized. Now you know your horse will be in a home with enough resources for health care and emergencies, and move on.

                        That's my take.
                        Airborne? Oh. Yes, he can take a joke. Once. After that, the joke's on you.

                        Comment


                        • #13
                          MVP, we were typing the same ideas at the same time.

                          Seller needs to move on and honor her end of the contract, too.
                          Airborne? Oh. Yes, he can take a joke. Once. After that, the joke's on you.

                          Comment


                          • #14
                            mvp Quote:
                            What? Why is Seller psyched that no written contract exists? Wouldn't that make it easier to wrap this up one way or another?
                            Just sayin' that Sellers feel smoke being blown up skirts about limited budget of Buyer, now that the truth be known. Sellers would rather sell horse to honest buyers.

                            Sellers do not have to sell horse.
                            Sellers would like to sell horse.
                            Sellers thought they had found the perfect Buyers, so made accomodations on price for "perfect home".

                            If Sellers sold horse for reasonable price and Buyer could not meet quick conditions, Seller would feel like it was more of a win-win. Having a sold horse sitting around for a few months before Buyer can take it only ads insult to injury, especially knowing that Buyer told an untruth about budget.

                            I believe that is why Sellers are happy Buyers breeched conditions.

                            Comment


                            • #15
                              You didn't ASK for more.
                              Sellers DID ask for more but were told that Buyers did not have more.

                              Comment


                              • #16
                                I agree. Seller needs to move on to qualified buyer.

                                Comment


                                • #17
                                  Doesn't matter one iota if they feel cheated or not...fact is they took an offer of sale and accepted it. If the buyer has breached the terms then there may be a recourse to return and null and void the contract, but just because they are unhappy with the price paid.......nope! And if they back out of the sale and return the monies just based on this, then really, who's going to want to deal with them in the future. It's a small world and people backing out of a done deal just because somebody better comes along, gets our fur up all the time doesn't it????
                                  Go Ahead: This is a dare, not permission. Don't Do It!

                                  Comment


                                  • #18
                                    Eclipse - the BUYERS whet against the parameters of the sale first (low offer accepted = quick sale) and foremost. The other details later unraveled.

                                    The BUYERS breeched conditions first, not the other way around.
                                    One more time, conditions = low price only for quick sale.
                                    Again, BUYER didn't follow SELLERS conditions = no sale.

                                    Once again, details unraveled and Sellers feel uncomfortable, did I mention that Buyers couldn't meet conditions of Sellers?

                                    Comment


                                    • #19
                                      [QUOTE]And if they back out of the sale and return the monies just based on this, then really, who's going to want to deal with them in the future. [QUOTE]

                                      How rediculous! READ. Seller is not backing out; Buyer breeched conditions = no sale.


                                      It's a small world and people backing out of a done deal just because somebody better comes along, gets our fur up all the time doesn't it????
                                      Again READ. DONE DEAL? Not a done deal. Once again: Buyer breeched conditions = no sale. R-E-A-D. (that's read)

                                      Comment


                                      • #20
                                        "Quick Sale" is a matter of opinion. How long has it been?

                                        As others have said, when taking a deposit, there MUST be a written receipt that explains what the deposit is for and has a timeframe for the rest of the conditions (vetting, remainder of payment, etc.) to be met. I wouldn't want to leave or take a deposit without such written protection.

                                        Without that, maybe the seller's next step is to give the buyers 3 business days (or something) to complete the transaction before they return the deposit?


                                        I've learned this lesson the hard way too. I often buy from the track, where a quick sale means you bring your trailer and your money and you take the horse that day. But when I sell, it seems to take a week to 10 days for the buyers preferred vet to become available, then another week or two for the boarding barn to be ready and the friend-with-trailer to have a day off from work to come get him, etc. So unfortunately "quick" means different things to different people.

                                        Comment

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