Buying new horse - when exactly do you hand over the cash..?!

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diddy

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Hi all,

Just a very quick question, honest! Could you tell me how I should pay the current owner of the horse I'm buying..? He's being picked up and delivered by a transport company so I won't be there myself. Should I make a transfer into the owner's account beforehand or is that risky? If it was me I wouldn't want to send my horse off to a virtual stranger without seeing the money first but I feel a bit exposed handing over all my cash in advance!

I'm sure I'm being a bit thick so could you tell me what I should do..?

Thank you muchly :)

Diddy x
 
Chk with your bank so you can have an instant transfer ready - then when the transporter has arrived, you can transfer the money immediately into their account. We did that on Weds when one of our team wasn't sure about a horse to collect so had everything set up to transfer over after seeing the horse again. She did it at the dealers and pony came home (along with my newbie and another one, but thats another story!)
 
I would insist on cleared funds before the horse left the yard.

If you cannot be there yourself could you not get it sent over to the transport company and let them pay cash on your behalf or otherwise I think you will have to CHAPS or BACS the money into the persons account before the arranged collection time/date.

Good luck with new horse and hope it all goes to plan.
 
I would also not let a horse leave my yard without cleared funds, its not just you handing over money it is the seller letting her horse go.
So either send the money with the transport company or back transfer
 
actually i had a bit of a dilemma about this with Mum's horse last yr.
The transporter turned up, and the old owner had not seen the funds cleared yet, and wouldnt let him have the horse!!! (I totally understood and respected this bit - didnt mean I didnt curse quite loudly though!)

Cue some FRANTIC calls to the bank, the owner, to mum, to the transporter!!!

Darn Bank Holidays!!!
 
Hi everyone,

Thanks for all your comments. Like some of you, I assumed I should pay up before he leaves the yard (that's what I would insist on if I was selling!). However, my OH is saying it's more of a risk for us to hand over the money than it is for the owner to hand over her horse - of course I don't need to point out that he's not horsey himself :rolleyes:

I guess if all else fails I'll have to go over myself and hand over an envelope of readies as he steps onto the lorry :)

Thank you for all your ideas - will keep you posted!

Diddy x
 
if you know the transporter/it's a well respected one then i'd give the money to them to pay the owner once the horse is loaded/exchange with the passport etc.

i normally collect my own horses so my OH pays as i load the horse (or vice versa).
 
I would be there when the horse is being loaded - to make sure he loads ok and doesn't need to be forced to load, I would never buy a horse that wont load and I would want to see that it goes on ok, and I would also want to see that the correct horse is being delivered :)

I would hand over the cash when he is on the lorry and get a receipt too :)
 
I've just bought a horse and she is being picked up tomorrow. I won't be there as it is nearly 400 miles away. I transferred the money into the sellers account a few days ago and I have also transferred the transporter's money into their account. So everyone is paid and there is no need to try and get hold of vast amounts of cash. If I was selling, I would want to make sure that cleared funds were in my account (or cash in my hand) before the horse left. If your OH was selling a car - would he let the new people drive it away before being paid for it??? Same with the transport company - they will want to be paid either in cash, or up front.
 
Thanks again guys. I might end up going anyway as it's not a massive drive anyhow. I don't have a trailer myself (hence needing the transport service) but I hadn't thought it would be good to see how he loads for future reference :) Also the car analogy's very helpful and might persuade my OH to see things from their point of view! Now, must go and do some work :rolleyes:

Diddy x
 
We sold a horse and the day the transporter came the money hadn't cleared. We wouldn't let her set foot on the lorry until the money had been transferred - which took 2 hours of franticness and some very upset people, but no way were we letting her go before she was paid for.
 
When i bought my filly who was delivered by a transport company I did a bank transfer and put the money straight in their account. I already had a receipt from them for the deposit with passport number on etc. They wouldn't let her leave if I didn't pay first. My other one was delivered by the stud and they wanted a bankers draft which I gave them when they delivered him.
 
Although its a hassle, it would be worth the drive over. That way you can check the horse is as you last saw it- hasn't suddenly became ill or lame. Check how it loads and if any tack/rugs etc are included in the sale, you can check the tack is exactly the kit you agreed on. I once had a subsituted saddle and rugs ( rugs were 5'6'' for a 6'3'' sized mare). Also check the passport is the right one.
There will always be an element of trust in buying, but being politely prudent shouldn't offend anyone. Honest people will understand.
 
Cash on pick up most of the time. Although with my little grey I paid by bank transfer a week before I went and got her as the owners pulled her out a sale for us so it was only fair and I couldn't pick her up straight away.
 
I have just sold my horse and the new owner transferred the money just before she was picked up by the transporter, I wouldn't have let her go without having the cash or the money in the bank. Just try to work out a receipt/contract and you should be fine :)
 
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