help needed now - selling pony tonight!!

[oliviacharley]

Hey
Finally managed to sell my pony after lots of fuss and issues...
I am going over to collect a cheque as it is too short notice to get cash! The people buying are going on hols tomorrow so its all a bit of a hurry... I dont believe it but hey I cant be dealing with all the extra stress...!
Now I am just writing up a contract and I want to put on it that the pony is still in my ownership until the cheque clears and will be keeping hold of the passport until the cheque has gone through fine...once this has happened I want to send a letter in with the passport confirming that the pony is now offically sold to so and so. My only worry is if there are any illnesses etc that something could be thrown back on me while the cheque is waiting to clear next week...Im a worry guts so I want to make sure I am covered..I also believe things like this could happen as I do not really completely trust the people who are buying her business wise...nice people from animal point of view but just believe I could be screwed as they seem to know all the in and outs...
cheers
Is this the right thing to do...

 

[AmyMay]

It's very simple to walk in to the bank and withdraw several thousand pound instantly.

Who is supposed to be looking after the pony whilst they are on holiday?????

I would tell them that you will keep the pony with you until they return. By which time their cheque will have cleared. Under no circumsntaces would I let it go until that has happened.

 

[paulo]

i agree

 

[Morrigan_Lady]

DO NOT let you pony go till that cheque has cleared!

 

[AmyMay]

Just read your post again. All sounds most peculiar.

 

[bex1984]

I agree too, it sounds a little strange. When are they taking the pony? Can they do a CHAPS payment rather than a cheque?

 

[Snowberry]

I would definitely not let any of my ponies go without cash up front!!

Keeping hold of the passport guarantees you nothing, sorry to be so negative but I'd be extremely cautious. I have learnt the hard way that you cannot trust anyone when it comes to selling and buying horses!!!
I'd hang onto your pony until they can give you cash - who's looking after the pony whilst they're on holiday? All sounds a bit fishy
sorry

 

[Toby_Zaphod]

I'm not sure if you still can....but you use to be able to pay a small amount to the bank & they will express the cheque through clearing & it will be cleared in under 24 hours...that may be worth looking into. Secondly do not part with your horse or any documantation until the cheque has cleared. I suppose you could write up a bill of sale saying "subject the funds clearing"......but whatever you do don't let the horse go until you have the money in the bank!

If they are genuine buyers they won't be bothered & will understand.
Good Luck

 

[jumpthemoon]

If they are going on holiday why do they need the pony now? I agree with above - keep him until the cheque has cleared.

 

[Morrigan_Lady]

[ QUOTE ]
Just read your post again. All sounds most peculiar.

[/ QUOTE ]

Hmm, yes. Why would some one collect a new horse then go on holiday the next day!! Very strange.

 

[KatB]

This happened to someone I was speaking to the other week. She got a cheque, with a letter from the bank confirming the money was there and would be recieved no probs. She put horses on the transported, they went away, cheque bounced, and turns out all docs were fake. She is now several thousand down. You cannot be too careful IMO!!

 

[oliviacharley]

sorry everyone - slight rush writing this...
Basically my pony is already with the people as she has been on long term loan with view to buy. I have a contract for the loan etc...
Well after a week of being on loan they have asked if they can get the months trial short and buy her today as they are on hols next week- they share a field with equine friend who is looking after them and want to have the deal sorted now.
I want to have it cleared before they go away however it is causing problems as they are only offering a cheque...asked for cash so it is either wait till they get home, I have their address and all their details and the husband is the main vet at a local vets nearby...checked it all out...so what can I do to make sure I do not sell my pony and the cheque bounces...oviosuly in an ideal world I would have a bankers draft or cash but it seems that is not possible...so do I keep hold of the passport till the cheque clears or do I ask for cash only...?

 

[Morrigan_Lady]

Cash only!!

 

[AmyMay]

Well in your shoes I would have insisted on the cash.

Either way - pony would be comming home to me whilst they are on holiday (it's not theirs yet). By which time the cheque will have cleared.

 

[appyjude]

Gut instinct is CASH only - if the funds are with the bank, that shouldn't be a problem, the banks don't close for another hour.

Regardless of what you put on the piece of paper, it will be worth nothing unless you then have the money to go to Court to enforce it - that is if you can at all.

Go with cash when they come back - and make certain you know where the pony is.

 

[paulo]

I dont understand why the big rush, I would tell them that the months trial is to benefit you both you dont think a week is long enough for them to be sure this is the pony they want. If your sure the pony will be cared for while they are gone I would leave it there but I would insist that they complete the trial before CASH exchanging hands for their benefit and the pony's?
or was it them that wanted the trial? Either way I would say that you will only accept cash, explain its nothing personal but you've had bad experiences in the past and the pony will still be there when they return.

 

[browbrow]

Tell them to go on holiday and forget about the pony until they come back - cash only - when they are back of the holiday - whats the rush ?

 

[bex1984]

hang on I'm confused? Did they take her on loan only a week ago? Have you seen pony since they took her on loan? Why take a pony on a month's trial when they're on hol for some of that month?! Or am I getting things wrong?

I would say cash, or as I said earlier, ask them to do a CHAPS payment.

Alarm bells are ringing slightly... you said in your first post you don't completely trust them...

 

[Snowberry]

major alarm bells are ringing for me - although I am extremely suspicious at the best of times!
Why would you take a pony on loan knowing you were going on holiday in a week?

I suppose given that they are respectable people (well you'd hope a vet would be

) I'd be a little bit more inclined to trust them, I'd still ask for a cheque and take it to the bank to cash it. My bank (Lloyds tsb) charges 10% fee to cash a cheque (for some weird reason my landlord cashes my rent cheque every month and it costs him £100!!!!! )
Anyway, go with your gut instinct - its usually right

 

[charlie76]

I would not let the pony go until the cheque has cleared or they pay cash. They could also pay by bankers draft which is easy to do(we paid for our £20k lorry like this) and they are as good as cash.A bankers draft cannot be made up if the cash is not in the buyers account.

 

[brighteyes]

Absolutely <u>DON'T</u> let the pony go until the money is in your hand!!!!

You have said yourself you don't trust them business wise and I'd have to trust them with my life before I'd sell them a pony at all!

 

[PaintboxEDT]

cash in hand before letting pony go,it does all seem a bit strange to me !!!
but if you have done all the research then its fine but just make sure its cash you dont owe them any favours its your pony and they want her you are allowed to call the shots,dont understand what the hurry is as they have her anyway its only a case of the money !!!
be strong and tell them sorry id like cash please !!

 

[BethH]

If you want to know if the cheque is to be paid ask the bank to do a "special presentation" it will still go through the normal clearing cycle but you will be given a definite answer that it will or will not be paid. The cheque is sent by your bank via 1st class post to the bank the cheque is drawn on, so you should get an answer the following working day after paying it in.

I hope you don't mind me making this point, but if you don't trust these people, why are you allowing them to buy your pony?? Sorry if that sounds blunt. If you have any of these concerns then it is not the right home and I would go get your pony back and make sure it is safe.

 

[oliviacharley]

thanks everyone for the great advice...
Basically they have my pony on loan with view to buy in 1 months time. My pony has just returned from being on loan for a yr with another family and didnt not know me, my other horses are bullying her and she is best going to another home as she will be sat in a field on her own. This family took her last tuesday - last week...
The family who have her are under a loan agreement &amp; did not tell me they were going away for a week through the months trial and to be honest wanted to buy her straight away when viewing. I wanted them to have the trial to make sure they liked her and she was happy. I went to see her on wed and she seemed happy and was being worked well so today it was agreed that they would like to buy her before they went away on holiday...Although I am not money grabbing my car is up for its mot and my other horse needs more medication so this would help with vets fees and car things so waiting another 3 weeks would be ideal but works out better for me and my pony seems to be very happy..I called her and she didnt even lift her head so after owning her for 15 yrs know she is with a good family and feel she will be looked after well...
I have asked for cash and am being given cash so not to worry about the cheque. I have an agreed contract written up and will just say my sad goodbyes in the next half an hour...
cheers everyone - great and valid advice...sorry for any confusion...!!

 

[burtie]

I may has misunderstood everyone, but surely if the pony in the position of buyers already what difference does a cheque or cash make?


Given the circumstances I would have taken the cheque.

 

[lexiedhb]

Quick word about bankers drafts, they still need to be checked by the bank, as there are fakes knocking about. I dont understand why you want them to pay before they go away? Surely it would be better to wait until they are back, get cash, and then everyones happy. If they refuse point blank to ever give you cash go and get your pony asap!

 

[WelshRareBit]

Ive heard that bankers draughts can actually be stopped too, dont know how reliable that is.

Some people say dont accept large ammouts of cash as it could be fake or dodgy.

Some people say no to cheques, because they can be stopped.

I guess its all down to trust at the end of the day.

 

[Happytohack]

Am glad everything is now cleared up and your pony is happy. Isn't it dreadful that we are such a suspicious lot

But sadly there are so many con artists in the horse world.

 

[rascal]

Seems strange to be in such a rush, and as someone else said why take a pony on trial so close to their holls? If you ask for cash then thats what you should get. I would never let anyone pay for a horse by cheque unless i knew them really well.

 

[FMM]

Pleased it has all turned out well for them. But re the passport - this should have been with the pony and not with you anyway!