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Seller dilemma- Update last page

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  • Seller dilemma- Update last page

    Sorry if this has been covered before...couldn't find anything in a search that completely answered my question.

    I'm trying to sell my ottb. I've had lots of bites, but no one has actually come out to see him yet. I have 2 potential buyers that sound great. Both are from out of town and need to schedule time to come see the horse.

    Buyer #1 has been emailing back and forth for weeks. She originally wanted to buy him, then something happened on her end that caused her to not have enough $$$ to purchase. Asked me if I was willing to do a lease or payment plan. At the time I was not, I really needed the money from him.

    Couldn't get him sold, finally decided that I might be willing to do a lease (something's better than nothing). Emailed her back, she's very excited and very interested. She has not disappeared, she's been very good at emailing back and forth, HOWEVER...she has not been up to see the horse yet. She wants her trainer friend to come with her and ride him, so trying to combine 3 people's schedules has been difficult. So it's not really her fault that she hasn't looked at him yet. She's not being a flake.

    Buyer #2 has also said through email that she's very interested. She will buy him outright.

    I have told buyer #2 about buyer 1 having first priority, but I have not told Buyer #1 about #2 yet. With our situation, this isn't about choosing which person I like better; both would be suitable homes, I just really need the money.

    If Buyer 1 had already made a commitment, or even a $ offer, I would hands down let her have first choice. But she technically hasn't, we've just discussed hypothetical deals.
    ie, "Yes I would be willing to lease, no I don't have a contract or exact terms yet, I can think about it..." or from buyer 1: "If I took him on as a free lease, would you consider selling after a month trial?" See where I'm confused? Yes we've discussed lots of details, she's very interested, BUT nothing definite has been said from either end. She hasn't even met the horse yet.

    So, I know that he's my horse to do with what I will, but I don't want to be a jerk. And I am not going to burn either bridge until the check has gone through and the horse is sold, either way. So am I ethically within my rights to say to Buyer 1 "Sorry, but I've had another offer, the horse is sold"? Or do I need to make her aware there's another offer, so she better make a decision quick? Obviously worded better than that or do I need to completely give her the right of refusal since she was first, and tell #2 that he is unavailable, sale pending?
    Last edited by talkofthetown; Oct. 22, 2012, 10:48 AM.

  • #2
    Originally posted by talkofthetown View Post
    Sorry if this has been covered before...couldn't find anything in a search that completely answered my question.

    I'm trying to sell my ottb. I've had lots of bites, but no one has actually come out to see him yet. I have 2 potential buyers that sound great. Both are from out of town and need to schedule time to come see the horse.

    Buyer #1 has been emailing back and forth for weeks. She originally wanted to buy him, then something happened on her end that caused her to not have enough $$$ to purchase. Asked me if I was willing to do a lease or payment plan. At the time I was not, I really needed the money from him.

    Couldn't get him sold, finally decided that I might be willing to do a lease (something's better than nothing). Emailed her back, she's very excited and very interested. She has not disappeared, she's been very good at emailing back and forth, HOWEVER...she has not been up to see the horse yet. She wants her trainer friend to come with her and ride him, so trying to combine 3 people's schedules has been difficult. So it's not really her fault that she hasn't looked at him yet. She's not being a flake.

    Buyer #2 has also said through email that she's very interested. She will buy him outright.

    I have told buyer #2 about buyer 1 having first priority, but I have not told Buyer #1 about #2 yet. With our situation, this isn't about choosing which person I like better; both would be suitable homes, I just really need the money.

    If Buyer 1 had already made a commitment, or even a $ offer, I would hands down let her have first choice. But she technically hasn't, we've just discussed hypothetical deals.
    ie, "Yes I would be willing to lease, no I don't have a contract or exact terms yet, I can think about it..." or from buyer 1: "If I took him on as a free lease, would you consider selling after a month trial?" See where I'm confused? Yes we've discussed lots of details, she's very interested, BUT nothing definite has been said from either end. She hasn't even met the horse yet.

    So, I know that he's my horse to do with what I will, but I don't want to be a jerk. And I am not going to burn either bridge until the check has gone through and the horse is sold, either way. So am I ethically within my rights to say to Buyer 1 "Sorry, but I've had another offer, the horse is sold"? Or do I need to make her aware there's another offer, so she better make a decision quick? Obviously worded better than that or do I need to completely give her the right of refusal since she was first, and tell #2 that he is unavailable, sale pending?
    Whichever one puts money in your hand first is the new owner and I would go with a guaranteed sale over a free-lease, lease-to-own fiasco. Personally, Buyer #1 sounds like a professional tirekicker with limited to no funds. I would walk away from that one and go with buyer #2. It's not personal, it's business. You don't owe buyer #1 anything at this point other than maybe a message saying "I have another buyer interested who is coming out on this date. If you would like to come before then, I will give you first dibs, otherwise, I'm going to move forward with trying to sell him." and if she were a serious buyer who really wanted something, she would move heaven and earth to make arrangements to get crap done.

    Comment


    • #3
      Buyer number 1 hasn't even come to see him yet? You don't owe her anything. Horse sales are SOOOOOO bad right now. The first one to get him is the person you are comfortable with and the first one to have the money.

      Comment


      • #4
        ^^That^^^
        Draumr Hesta Farm
        "Wenn Du denkst es geht nicht mehr, kommt von irgendwo ein kleines Licht daher"
        Member of the COTH Ignorant Disrepectful F-bombs!*- 2Dogs Farm

        Comment


        • #5
          The first one with cash in hand gets the horse. I have held horses or something else, and it almost always bites me in the rear. They either disappear or change their mind.

          It sounds like you have given B1 plenty of opportunity to come see horse and it hasn't happened. Don't feel guilty about selling to B2 if they are interested and have the money.

          Comment


          • #6
            It doesn't make you a jerk to sell the horse to the person willing to buy, even if they contacted you second. It's business, and as you know, in this day and age, it's hard to sell a horse.

            If it were me I'd send #1 an email that said something like "Just wanted to keep you abreast of what is happening with horsie. I have someone scheduled to see him on xxx date for purchase. Should this not work out I'd be happy to revisit a possible lease with you.

            You can't turn down a possible done deal for fear of hurting the feelings of a maybe.
            "Aye God, Woodrow..."

            Comment


            • #7
              Ditto Snowflake.

              I learned the hard way, selling a horse is not the time to try to be nice to buyers.

              I've had buyers come up with unbelievably complicated proposals for payment, trial periods, sob stories about why I should hold the horse indefinitely for them...

              First acceptable home that gives you a check (that clears) get's the horse. Make that your rule too & save yourself some heart/head aches.

              Comment

              • Original Poster

                #8
                I'm so glad you guys said that! I really want #2 to work out and just be done with the whole thing but I felt so guilty about it!! As soon as I set up a day that she can come up, I'm going to let #1 know. Thanks for the advice!

                Comment


                • #9
                  Originally posted by dacasodivine View Post
                  The first one with cash in hand gets the horse. I have held horses or something else, and it almost always bites me in the rear. They either disappear or change their mind.
                  Yup Buyer #2 if it's a good home and they have the money.
                  Sometimes I just think funny things - Dudley Moore in Arthur
                  Come join us at - TheMuckBucket

                  Comment


                  • #10
                    To be ethical (and not blow up any potential deals), and to get the *selling* show on the road.

                    Tell Buyer #2 that there is "someone else interested" who technically began the discussion first, but hasn't been to see the horse yet. She's dragging it out. You haven't lied, but you haven't said that the prior offer is unsatisfying.

                    That puts pressure on Buyer #2 to get her butt out and on your OTTB.

                    Tell Buyer #1 that you have someone coming out to try the horse who has cash in hand. You understand it is hard to schedule 3 people. (If Buyer #2 has said all the right things and continued to be interested/sounds suitable for the horse, etc.), set a date for her to come see the horse.) Tell Buyer #1 about that date.

                    Now see what Buyer #1 wants to do. She can either:

                    1) Come out before that date, put some cash in your hand (or set up a PPE) and move forward.

                    2) She can come see the horse whenever, knowing when Buyer #2 is coming. This means that you'll happily consider her lease deal if Buyer #2 bails.

                    3) The horse is still for sale until Buyer #1 and you have the terms of your lease or payment plan or whatever in writing.

                    Your diplomacy is as important has whatever the plan is. You want to like your potential buyers and have them like you until you have completed a deal. Let Buyer #1 know that you have respected her priority and efforts to make this work. If you are firm or "realistic" but a bit apologetic that you have to press for the person who completes a sale, she'll be more likely to work with you-- either buy finding cash, taking the complexity of the lease deal seriously or, at the very least, setting up this appointment.

                    Oh, and the fact that Buyer #1 wants to bring her trainer (fine) and friend (really?) and can't schedule everyone is not your problem. Let her work it out according to how badly she wants to try your horse.
                    The armchair saddler
                    Politically Pro-Cat

                    Comment


                    • #11
                      another point: Not that cash in hand guarantees a good home, but I'd be really leery of selling/leasing to someone who is having difficulty coming up with the purchase price. Unless this is an extremely high-dollar horse, we all know that purchase price is usually the cheapest part of ownership....

                      Good luck -- I hope it works out for you!!
                      I don't mind if you call me a snowflake, 'cause baby, I know a blizzard is coming.

                      Comment


                      • #12
                        When I was going to check out my filly I asked about making a deposit since I was 99% sure I was going to want her, and didn't want anyone else to buy her. The breeder didn't require it since she knew I was buying plane tickets in advance, but she would have been within her rights to sell her to someone else prior to us having that discussion. If someone is really serious about your horse, I think they would bring it up to ensure you would hold the horse.

                        I think you can tell her you have someone else interested and give her a chance to put something in writing (a check!), but nothing wrong with giving the chance and selling to #2 if #1 doesn't jump on her chance.
                        If Kim Kardashian wants to set up a gofundme to purchase the Wu Tang album from Martin Shkreli, guess what people you DON'T HAVE TO DONATE.
                        -meupatdoes

                        Comment

                        • Original Poster

                          #13
                          Originally posted by mvp View Post
                          Oh, and the fact that Buyer #1 wants to bring her trainer (fine) and friend (really?) and can't schedule everyone is not your problem. Let her work it out according to how badly she wants to try your horse.
                          Trainer friend is one person, it's her friend that is a trainer. Sorry, bad wording. 3 people being the trainer, the buyer, and myself. But same principal, and that's what I thought, too...if she wants to see my horse that bad, she could have figured it out by now.

                          Comment


                          • #14
                            Originally posted by talkofthetown View Post
                            Trainer friend is one person, it's her friend that is a trainer. Sorry, bad wording. 3 people being the trainer, the buyer, and myself. But same principal, and that's what I thought, too...if she wants to see my horse that bad, she could have figured it out by now.
                            Got it.

                            Be careful with your "judgey pants." If the buyer sense that you are slipping these on... and she thinks she has worked hard on this deal and is getting a bit tired of the effort, it could be enough to wreck it.

                            It's fine to wreck the deal... but not for the wrong reason.

                            Oh, and what's good for the goose is good for the gander: If *you* wanted the horse sold really, really bad, you'd make yourself available when the buyer was.

                            Take it easy and massage the deal until it's done. You can not like the buyer afterwards.
                            The armchair saddler
                            Politically Pro-Cat

                            Comment


                            • #15
                              Give Buyer 1 a deadline. If she doesn't formally commit (deposit, contract, etc.) by a set deadline, horse will be sold to Buyer 2.

                              Comment

                              • Original Poster

                                #16
                                Originally posted by mvp View Post
                                Got it.

                                Be careful with your "judgey pants." If the buyer sense that you are slipping these on... and she thinks she has worked hard on this deal and is getting a bit tired of the effort, it could be enough to wreck it.

                                It's fine to wreck the deal... but not for the wrong reason.

                                Oh, and what's good for the goose is good for the gander: If *you* wanted the horse sold really, really bad, you'd make yourself available when the buyer was.

                                Take it easy and massage the deal until it's done. You can not like the buyer afterwards.
                                Very true. I didn't mean that as snippy as it sounded, I just feel like if she really wanted to come up that badly, why not at least come to look at the horse without the trainer? Then if she likes him, trainer can come next time. Most of the scheduling conflicts have been due to trainer.

                                Oh well, not a big deal. And I really do like the sound of this woman, I'm just getting frustrated at every week that goes by that I'm having to buy feed when I *really* can't afford it anymore.

                                Comment


                                • #17
                                  Originally posted by nikelodeon79 View Post
                                  Give Buyer 1 a deadline. If she doesn't formally commit (deposit, contract, etc.) by a set deadline, horse will be sold to Buyer 2.
                                  I wouldn't even be this nice LOL. I would just say that the first person with cash gets the horse. End of story.

                                  The person doesn't sound serious IMHO.

                                  I purchased a horse this spring and I didn't hesitate to set up the insurance, PPE, etc. I really really wanted the horse and "made it happen".

                                  I would absolutely never do payments or a lease.

                                  Comment


                                  • #18
                                    the bird in hand is worth two in the bush...


                                    Tell #1 that #2 has cash in hand.

                                    But seriously, the longer that drags n, the worse it's for you.
                                    Sell it and get it gone!

                                    Comment


                                    • #19
                                      Originally posted by Alagirl View Post
                                      the bird in hand is worth two in the bush...


                                      Tell #1 that #2 has cash in hand.

                                      But seriously, the longer that drags n, the worse it's for you.
                                      Sell it and get it gone!
                                      Ditto this - like the saying goes "money talks, bs walks" or "s@#t or get off the pot."
                                      Yogurt - If you're so cultured, how come I never see you at the opera? Steven Colbert

                                      Comment


                                      • #20
                                        I just sold a horse. I had a buyer who was very interested, but who lived six hours away in another state. I also had a buyer who was very interested and who lived a block away. I had talked to buyer #1 first,had sent them a video and answered multiple emails over the course of a week; they said they weren't able to come and look at my horse for two weeks. Buyer #2 said she could be at my house in five minutes with cash.

                                        I sold to Buyer #2.

                                        Both would be good homes.

                                        But it was business. First one with money wins.

                                        Comment

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