Deposit Help

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paddytyson

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Hi - first time poster here and need some urgent help. I have a horse for sale and a prospective purchaser came and tried it and gave me a deposit to take on trial 2 weeks later as they were on holiday until then. 2 days before the trial I was sent an email saying that due to unforeseen circumstances they would not be taking the horse on trial.

Do I keep the deposit of £250??
 
It depends what your agreement was.
Really a deposit should be non refundable, you have taken the horse off the market and waited for them.
But if this wasn't mention they may get funny if you don't give it back!

If they a haven't asked for it in their email I wouldn't offer it back.
 
was anything signed to say what basis the deposit was paid on?

As they pulled out yes you should be able to keep it. Personally I would take an amount to cover re-advertising and the costs of taking the horse back then let them have the rest back but I am a soft touch!
 
smellsofhorse said:
It depends what your agreement was.
Really a deposit should be non refundable, you have taken the horse off the market and waited for them.
But if this wasn't mention they may get funny if you don't give it back!

If they a haven't asked for it in their email I wouldn't offer it back.
Click to expand...

This, but I would say to use what you need from it to cover re-advertising your horse.
 
The entire point of a deposit is that it is non refundable. There would be zero point taking one other wise. It is always the one who reneges on the deal who loses out. If you decided you didnt want to sell anymore, then you have to return it. If they decide they don't want to buy any more, then they lose it.
 
I think it would depend if you made it clear it was a non-refundable deposit - deposits technically are non-refundable but if you've not made it clear you might end up with an argument on your hands. For an easier life I'd probably deduct the cost of re-advertising the horse and give the rest back, that is pretty fair.
 
Deposit should be non refundable. That's the whole point of leaving one.

You took the horse off the market for 2 weeks and had the cost of its upkeep and exercise. Along with the cost of insurance, it barely covers the expense of full livery, which is, in effect, what they had.
 
Thanks guys - the agreement was for her to take the horse on trial on the 11th. I would hold the horse for her to come back off holiday for 2 weeks to wait for this trial. If the horse then turned out to fail vetting or be unsuitable for what she wanted then I was to return the deposit.

Initially she said that she could not handle the stress and that she had been sick earlier in the year due to stress and wanted the horse but not quite at the moment. Then she changed her story and said that this vet friend had seen the video and advised her not to take the horse on trial. Horse is 100% sound but needs some schooling on but she tried it and knew this!
 
Sounds to me the original reason is true and then she spoke to someone about the deposit and realised she won't get it back unless it's a fault with the horse etc.
Even if thats the case her friend cannot do a "vetting" from a video so I'd be keeping the money and use it to pay livery and re advertising.
 
A deposit is a payment you accept to prevent you from selling to anyone else. Now you can use that money to readvertise. (most websites charge in the region of £40!!)
 
Sounds like she is making up stories to get her money back, so while I initially would have perhaps given her half back I wouldn't now. Goodness there are some thoughtless,self centred people out there.
 
her problem if she changed her mind.... a deposit secures the sale... id def keep it and tell her it was she who messed you about not the other way round!
 
I would not refund, you took it off the market for her when you may have got a sale which you have now lost. As said, deposits are non refundable unless something happens to the horse, or you pull out of selling (which wouls not be fair or nice).

So, no, I would not refund...Welcome to the Forum
 
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