Loan crisis

I hope it all works out and you know Dad, while the rest of us don't.

I still don't understand why they couldn't sell you the horse now. As others said, a lot can change in a year. The worry about your daughter growing out of her and you selling her sounds like a lame, half-a$$ed excuse, if I ever heard one. If she is that worried about the horse being sold and disappearing forever, just put a right of first refusal into the sales contract.
 
Charmel said:
It turns out that the actual owner as per passport is Dad.

We have agreed a year loan with option to buy at a reduced price £900 to reflect the work we have put into her.

Owner told dad she didn't want to sell to us straight away just in case my daughter grew out of her then we sold her on at a huge profit to someone and she wouldn't know where mare had gone. Incidentally I dont sell horses on, still have elder daughters first pony after 19 years.

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I do not believe for one hot second that their overriding concern is worrying about where the mare will end up, the girl's main concern appears to be purely pound signs, and she's worried you'll make a profit on the mare where she has failed to. Actions speak louder than words and if she had any genuine love for the mare she'd be spending time with her and maybe learning from your daughter how to get the best from her, seems to me she's not doing that.

I also agree with Polo's Mum by the way. Good luck and I wish your daughter and her horse many happy years together
 
Can't believe how you've been messed about. TBH, I'd pay now and be done with it, I wouldn't trust a loan even with a contract from them, even with the dad involved; just not worth the heartbreak if they should change their minds or the amount they want for her then IMO.
 
I would still say either agree to buy now or you will return this weekend - your daughter will only get more attached over the next year and the more the mare improves during this time, the more chance that the owner's daughter will want her back.
 
I wouldn't trust them, sadly, whether you know them or not. Their story changes every time you speak to them. Money is their motivation - if anyone sells her on next year for more money it will be them. I think that it is quite likely that this will happen, and if you're certain you're going to keep her, I think you need to make it very clear to your daughter that she may well lose this horse next year..

Personally at this point I think you're crazy to continue and would be better finding something else for your daughter.
 
Charmel said:
It turns out that the actual owner as per passport is Dad.

We have agreed a year loan with option to buy at a reduced price £900 to reflect the work we have put into her.

Owner told dad she didn't want to sell to us straight away just in case my daughter grew out of her then we sold her on at a huge profit to someone and she wouldn't know where mare had gone. Incidentally I dont sell horses on, still have elder daughters first pony after 19 years.

As for growing out of her well my daughter is very slim but quite tall at 5ft 7 and almost 16 not sure how much more she is going to grow.

I have spoken to my daughter and she definitely wants to keep her. I offered to buy her something else, but she wants this mare more, she said that they just click........

So I am going to try this year, hope all goes to plan......not ideal really but going to get contact in writing regardless of how close we are.

Thanks for all advice and supportive comments.
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I smell a big fat rat.

Whole thing seems very fishy to me. Hope it works out for but i doubt it will. Good luck.
 
I wouldn't trust them, sadly, whether you know them or not. Their story changes every time you speak to them. Money is their motivation - if anyone sells her on next year for more money it will be them. I think that it is quite likely that this will happen, and if you're certain you're going to keep her, I think you need to make it very clear to your daughter that she may well lose this horse next year..

Personally at this point I think you're crazy to continue and would be better finding something else for your daughter.
 
Charmel said:
Will do...

And not going to tell my daughter until Christmas morning it will be a great present for her. She is so attached to her already.
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Only saw a wee bit of this yesterday so delighted to come back on and see its all worked out for you! Love it that you're keeping it for a Christmas surprise too!
 
Agree with others. No way would I trust them. I would be willing to bet money that come spring she will want her back and will be then sold on for a handsome sum of money.

At the moment you have an advantage in that you are willing to keep her over winter and they have no where for her.

I would still say accept cash now in full with full ownership transferred to you or she takes the horse back this weekend.
 
Im sorry but I would be sending the mare back, unless they sell her to you now, why do they want to keep her for another year then sell her to you then, too fishy for me.
 
How "horsey" is Dad? I could see a non-horsey parent (I have such parents), with the best of intentions and trying to mediate between his kid and an old family friend, coming up with something like this but not being clued in to the whole horse world and the myriad of things which can go wrong. They might not see all the pitfalls everyone on this thread sees
 
For me this would be a return then walk away job, you and your daughter are investing to much in this horse that can be taken away at any time, its the nature of a loan contract, and would be good money chasing bad if it goes pear shaped trying to enforce the contract, its not worth the hassle and greif imo, id return the mare at the weekend then start looking for something, its a buyers market and id tell them that
 
I have two daughters and I can understand how your daughter will want to keep the horse you have, she's done all the work and now is just getting the benefits, why should she want to start all over again? If you have not already done so I think you have to do a whole worst case scenario.
Her godfather like most men will want peace, if it comes to it he will side with the daughter, he has tried to create compromise but doesn't realise that he is making a muddle. If at the end of the contract they do not agree to sell to you for what ever reason how will you and your daughter feel about the godfather? I think his daughter is just worried you will profit from the horse, whether its financially or by the fact your daughter is doing well with it, if she had any true feeling for it she would want it back now. I think you have to put your foot down with both girls and say that the loan has become untenable as the owner has created doubt, I you can not invest time and money in something with that shadow hanging over you and for your future relationships sake its best they have the horse back. I think the god fathers daughter sounds fickle, and I wouldn't want to go to the small claims court over a horse with a long standing friend, I would cut my losses.
 
I have to agree with the others I'm afraid.

The girl's original reason for wanting the horse back was because she missed her, so is she going to miss her any less in a years time and be any more willing to sell to you then? As far as I can see you are still in the position you were at in the beginning in that next year your loan of the horse will end and the girl could take the horse back. This is very different to the 3 year loan that you originally agreed on.

Personally I wouldn't want this hanging over me for another year.
 
Marydoll said:
For me this would be a return then walk away job, you and your daughter are investing to much in this horse that can be taken away at any time, its the nature of a loan contract, and would be good money chasing bad if it goes pear shaped trying to enforce the contract, its not worth the hassle and greif imo, id return the mare at the weekend then start looking for something, its a buyers market and id tell them that
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^^^ This, I'm afraid. Their story changes too often for my liking. If you don't have definite outcome now (ie buy now or return) then it's always going to be hanging over you and your daughter that they could try to take the horse back at any time and sell it (at a profit). I've first hand experience of being in this situation and it's not good to be in. For your own peace of mind I think you need to sort it absolutely one way or the other.
 
I'd pay the money now and have a contract with a buyback clause so that if you ever want to sell the horse, they have first right of refusal. No way would I allow this uncertainty to drag on for another year. But it takes all sorts I guess.
 
honetpot said:
I have two daughters and I can understand how your daughter will want to keep the horse you have, she's done all the work and now is just getting the benefits, why should she want to start all over again? If you have not already done so I think you have to do a whole worst case scenario. Her godfather like most men will want peace, if it comes to it he will side with the daughter, he has tried to create compromise but doesn't realise that he is making a muddle. If at the end of the contract they do not agree to sell to you for what ever reason how will you and your daughter feel about the godfather? I think his daughter is just worried you will profit from the horse, whether its financially or by the fact your daughter is doing well with it, if she had any true feeling for it she would want it back now. I think you have to put your foot down with both girls and say that the loan has become untenable as the owner has created doubt, I you can not invest time and money in something with that shadow hanging over you and for your future relationships sake its best they have the horse back. I think the god fathers daughter sounds fickle, and I wouldn't want to go to the small claims court over a horse with a long standing friend, I would cut my losses.
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^^^Totally agree with this. If you keep the horse for a further year, your daughter really will be very attached, and will be heartbroken if the owner takes her away. I would be dropping horse back to the girl unless she was willing to sell her now. She has changed her mind too many times and is not to be trusted imo. Sorry for your situation op, hope it resolves itself for you and your daughter.
 
Goldenstar said:
I assume as OP trusted the father enough to be her daughters god father she trusts him in this.
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Normally I would agree but he is naturally going to be biased towards his daughter - no bad thing under normal circumstances. She probably wouldn't have much trouble persuading him in a year's time that she desperately wants the horse back and then persuade him to sell on. I think the buy-back clause is the best solution all round but I imagine it will be hard to convince them.
 
Apercrumbie said:
Normally I would agree but he is naturally going to be biased towards his daughter - no bad thing under normal circumstances. She probably wouldn't have much trouble persuading him in a year's time that she desperately wants the horse back and then persuade him to sell on. I think the buy-back clause is the best solution all round but I imagine it will be hard to convince them.
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Who knows but OP is best placed to know.
I am just musing on what my father would have done if I behaved like that it would not have been pretty .
 
Goldenstar my dad regardless of age would have given me a good old fashioned smack but im a bit aged so grew up when you got a crack if naughty etc :)he prob would now even at my age lol
 
After the ups and downs if this story im glad you have some good news.

However I would not be happy with the suggested agreement.

It's made to sound like you have her on loan for another year, if then you want to buy, you can at a reduced price of £900.
But you know you want the horse, so why wait, you were willing to pay more.

Really its probably, so the young owner can at the end of the year, actually, i want this nicely schooled horse back.
What could you do if she did?

Id still tell then I either buy now of send horse back.
 
abb123 said:
Agree with others. No way would I trust them. I would be willing to bet money that come spring she will want her back and will be then sold on for a handsome sum of money.

At the moment you have an advantage in that you are willing to keep her over winter and they have no where for her.

I would still say accept cash now in full with full ownership transferred to you or she takes the horse back this weekend.
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This.

There's no advantage for you in waiting a year. Even a written loan contract means next to nothing. You can't force someone to sell their horse to you.
 
The amount that the Father says he is willing to take, ie £900 in a year's time just doesn't make any sense.

You are willing to pay £1600 now for the mare that they (i think i read) paid £1400 for?

She could possibly be worth £2500-£3000 maybe more, at the end of next summer if she continues to go well, or she may have an injury & be worth almost nothing.

£900 seems an odd figure to have plucked from the air, more understandable if they'd said £1400, to recover what they'd paid. I think that you are being spun a line & i, like other's have said, would be returning the mare this weekend.

I've been in a similar situation when my daughter was 14, we'd had loan mare for 3 & a half years, owner's hadn't been to see it once in all that time. We'd done ALL the work, the mare had been out in a field doing nothing for 2 years before she came to us & was very quirky. They decided that now she was on all the PC teams, they wanted to sell her to us for £4000 (think mare was 14 at this point) I said no & she went back to them & is still turned out in a field doing nothing 3 years later. We were very sad to see her go but other lovely horses & ponies have come along :-) There are lots out there in dire need of a great home like yours.
 
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