Buying / selling protocol - do you always leave a deposit?

ShadowFlame

ShadowFlame

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Question in the title, really. Whether you're buying or selling, would you expect a deposit to be left if the horse in question is "the one"? As a seller, would you feel obligated to hold a horse if no deposit was left?

Thoughts, please?
 
I pay a deposit if I am serious and plan on coming to collect. I would never hold a horse and stop viewings without. There are so many timewasters and dreamers out there
 
As a seller I would never hold a horse or remove it from sale without a non refundable deposit subject to vetting.

As a buyer, if I wanted the horse I would always leave a deposit, expecting it to be non refundable unless the horse failed a vetting.

This way, everyone knows where they stand and there is no room for misunderstandings.
 
I would and have paid a deposit to secure a horse subject to vetting. It proves you are a serious buyer and I would certainly expect the horse to be taken off the market.
 
Never left a deposit, but have usually booked a vetting the same day for as soon as possible (usually two or three days later) and picked the horse up asap after that (usually the next weekend). Haven't ever had a deposit left either, buyers have usually arranged to vet/pick up the horse/pony in the next few days anyway.
 
I sell a few horses, usually for clients, I rarely take a deposit as most people do like to feel they can drive home and have a think without being put under pressure to make an instant decision, I very rarely have two viewings on the same day as I think it is not fair on the horse to expect it to go well for several different people on the same day and it reduces the pressured sale techniques. The potential purchasers have a few hours to contact me with any offer, I expect the vetting arranged the same or next day and have never had anyone pull out unless something has shown up at vetting, if buying I do the same, leave the yard then phone with my offer and pick up ASAP, have never lost a purchase this way either.
If you cannot trust who you are buying from or selling to do you want to buy from them or the horse to go to them?
 
I held one of my youngsters for two weeks once without a deposit. .ended up being messed about..so would never do it again.
 
In my experience, the best way is "Ownership passes with the money", the money being 100% of the agreed purchase price.

Deposits make me feel uneasy as who does the horse belong to if it gets out and causes damage or is itself damaged or ill?

No animal is sold on a promise without full payment! The warranty on a trained animal extends as far as the gate as I have no control over how the new owner treats the animal he/she has purchased or intimate knowledge of their abilities as a handler. That may sound harsh, but as the seller I would put a fairly generous interpretation on it and probably help the purchaser out if it was a genuine mistake or bad situation.

I once "sold" a gundog on a promise. In other words, the buyer said he wanted the dog and would pay an agreed price. Another man saw the dog and offered a bigger price which, in respect for the first deal, I refused. You guess it! The first did not honour our agreement by which time the second was long gone! I ended up selling to a third party for considerably less than either price. Never again!
 
Thanks all. Confirms what I'm thinking... personally I've always left / offered to leave a cash deposit, be that on the day or on the second viewing. I always assumed it was protocol.

maree t said:
I pay a deposit if I am serious and plan on coming to collect. I would never hold a horse and stop viewings without. There are so many timewasters and dreamers out there
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This is my concern... "I definitely want him" and "he's coming home with me" can be entirely different statements.

be positive said:
If you cannot trust who you are buying from or selling to do you want to buy from them or the horse to go to them?
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Would that differ if you'd been asked to hold a horse for a month before they collect?
 
ShadowFlame said:
Thanks all. Confirms what I'm thinking... personally I've always left / offered to leave a cash deposit, be that on the day or on the second viewing. I always assumed it was protocol.



This is my concern... "I definitely want him" and "he's coming home with me" can be entirely different statements.



Would that differ if you'd been asked to hold a horse for a month before they collect?
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Yes, I would expect it to be vetted at the start, then most likely ask for a non returnable deposit and for them to take out insurance, I would probably split the livery between both parties, it is not something that has ever happened although one pony sold earlier this year was held after vetting for nearly 2 weeks as the purchasers went on holiday, the money then failed to come through so they paid in cash when they collected, I did have a few moments when I wondered if it would fall through.
 
I have also been in a similar situation to dry rot, several purchasers chasing the horse, one wanted to buy unseen and pay a large deposit but I went with the people who had viewed, the horse failed vetting the buyer pulled out and the other person said they would have bought without vetting, the horse is now fine and the sale should go through to one of the other interested people who know the full situation and have been happy to wait but it has obviously taken time and money for what was a very minor lameness due to a bruised foot, just bad timing for the vetting.
 
be positive said:
Yes, I would expect it to be vetted at the start, then most likely ask for a non returnable deposit and for them to take out insurance, I would probably split the livery between both parties, it is not something that has ever happened although one pony sold earlier this year was held after vetting for nearly 2 weeks as the purchasers went on holiday, the money then failed to come through so they paid in cash when they collected, I did have a few moments when I wondered if it would fall through.
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So say a potential purchaser has not asked for a vetting (youngster, to be fair), hasn't left a desposit, taken insurance or offered any money for livery, but has claimed she does definitely want him and drove 260miles round to view. She needs to check finances, and would need him to be held for probably a month. Would you take with a pinch of salt and continue viewings?
 
Whenever I've bought, I've never paid a deposit, and I've said it is subject to vetting.

I pulled out of the purchase of a youngster due to a failed vetting.

But re the above, no I wouldn't hold the horse, asking you to hold for a month while she checks finance is taking the proverbial, what if the finances aren't robust and she can't proceed anyway?

I'd carry on with the viewings, and if you sell in the meantime great, if not in theory she is still an option.
 
That was some journey so you would expect commitment, I would worry about having to check her finances assuming it is not a very expensive youngster so would ask for a good deposit to hold, if they cannot pick him up for a month due to money issues the chances are the issues will still be a problem then, if no deposit was forthcoming I would keep him on the market.
 
I have only left a deposit once - with a dealer who insisted on that to take the horse off the market. I then found that no vet within miles would go to that yard to vet a horse and that the dealer was still showing said horse to clients. I pulled out of purchase, lost deposit and thanked my lucky stars that that was all I lost!

I might say that the dealer was quite well known and has featured on here on several occasions!!

I have never left a deposit since - the market is not that strong at the moment that there are hundreds of people queuing up to buy horses.
 
I would expect someone to have checked their finances before viewing - presumably she knew how much you wanted for the horse.

To hold for a month I would expect a deposit plus a month's livery, unless you don't mind keeping him for her. I would be open with her that unless she offers these you will continue showing the horse.

260 miles does show commitment, but it may also put her off coming back to collect, unless she also has a financial commitment to do so.
 
ShadowFlame said:
So say a potential purchaser has not asked for a vetting (youngster, to be fair), hasn't left a desposit, taken insurance or offered any money for livery, but has claimed she does definitely want him and drove 260miles round to view. She needs to check finances, and would need him to be held for probably a month. Would you take with a pinch of salt and continue viewings?
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I would expect a deposit and livery costs to keep the horse for a month, what happens if you take the horse of the market and at the end of the month she turns round and says my finances are not up to it? sounds like a time waster to me, you don't look unless your finances are up to it.
 
It's been stated that the horse can be held for the right home, the holding (or costs of) isn't so much of an issue, but the finances / lack of deposit is concerning me. & yes, asking price was on the advert.

Thanks all, sounds like it'd be silly to put any other people off.
 
Tell the potential purchaser that unless deposit is left you will have to keep horse open to viewers and she'll have to take the chance if the horse has not been sold after that time. If he hasnt, all well and good, but i think you'll kick yourself if you leave him sitting there for a month waiting on this woman and she lets you down and you have no financial compensation to show for it.

A month is along time to expect a buyer to hold especially as this time of year when you're leaving yourself having to try to resell a horse just before Winter when buyers will be even scarcer.
 
Thought I would ask another question whilst on topic.. Viewing horse on Wednesday, if I like would go back to view the horse again to be 100% sure within the week probably Friday. At what point would I offer to leave a deposit? Obviously a seller would have no obligation to hold for me for the 2nd viewing but what would you do? Also when do you discuss the payment and potential trial? Would you as a seller ever let someone trial your horse for 2 weeks? I'm new to the whole selling bit so thanks in advance for your replies :)
 
Personally as a buyer, if i really wanted the horse, i would always have a deposit ready, on the understanding it would be fully re-funded if a vetting was failed.

As a seller, i wouldnt be willing to 'hold' a horse unless a deposit was left with me, under the same agreement of full refund if vetting failed.

(although when I bought Mickey i didnt leave a deposit, his owner was introduced to me by a friend and she was just happy i wanted to have him so we were both comfortable he wouldnt be advertised any further and i would have him vetted and go from there).
 
I always offer a deposit to hold until the vet can do the pre purchase exam.
When selling, I continue to market the horse unless the purchaser leaves a deposit. Those that haven't, have found the horse sold while they were thinking about it.
 
dogatemysalad said:
I always offer a deposit to hold until the vet can do the pre purchase exam.
When selling, I continue to market the horse unless the purchaser leaves a deposit. Those that haven't, have found the horse sold while they were thinking about it.
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I never offer a deposit as I don't trust I'll get it back if the horse fails .
I always get a horse vetted within a day maybe two at the outside it will be picked up the day of the vetting or the day after .
I move very fast when I decide I want horse buyers seem to trust I will do as i say .
Once years ago someone agreed the price with me and rang back the next morning and someone had offered £500 more but they would prefer to sell the horse to me ( this was one hour before the vetting thevet was on the way) .
I said hold on I'll ring in ten minutes called the vet told them to go home rang the seller back and said sell your horse to the second person que lots of foundering around and saying they would rather I had it bad luck said I .
Six months later he still had it served him right.
I always say I make this offer on the basis the horse will be vetted extremely quickly and that the seller will hold the horse until the vetting if they did not agree I would move on and take my money elsewhere but I have never had to .
People both dealers and private owners respond well to straight no nonsense deals if sellers prevaricate with me I move on fast .
My last purchase was seen on Thursday vetted Friday and was only picked up on the Saturday because the buyer was not aviable on the Friday.
 
dogatemysalad said:
I always offer a deposit to hold until the vet can do the pre purchase exam.
When selling, I continue to market the horse unless the purchaser leaves a deposit. Those that haven't, have found the horse sold while they were thinking about it.
Click to expand...

Continuing to market while waiting for a vetting and collection is not really fair on anyone, most serious buyers will arrange a vetting at the earliest possible time, it can take several days if the vet is busy, I will never show a horse once the process has started, a deposit is rarely left, although in the case of the OP it is not the normal purchase arrangement and a deposit should be expected if the horse is not going to be collected for a month.
 
I've just left a cheque deposit on a mare I'll be having if she passes the vet. It's just a gesture of good faith. The vet can't go til next Monday, and I'd had to cancel the first viewing so figured this is the best way of showing that I was serious about buying her. Providing she passes,I'll take cash for the full amount and get the cheque back to rip up. if she fails, I will stop the cheque. Feel this is fair enough, as although buyers aren't two a penny at the moment, I really like the horse.
 
I'm pretty speedy like you, Goldenstar, when I'm buying. I worry that if it takes a couple of days (or more over a weekend) for the vet to go out, I might miss out on the horse. Very impatient, me.:D

Sellings different. Some people want to dither about, make no commitment and expect the horse to hang around while they come back a week later with an RI, or even toddle off on holiday.
I don't understand that approach, if a buyer needs to arrange a second viewing, indicate a strong interest and come back quickly or risk the horse being sold elsewhere.

That said, I did once refuse better offers for a horse because the buyer had always had a eye on him and when he suddenly came on the market, the girl was unprepared and asked to pay in instalments.
But that was because I knew she desperately wanted him and it was a great home.
 
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