Loan with a view to buy

A

Aimee_Bobbins

Member
Joined
14 November 2011
Messages
11
Visit site
I recently advertised my horse loan with a view to buy because I need the space for a new yearling I am in the process of buying. I had a lady view her on Sunday and she wants her on this basis.

How long am I liable to loan her for? as this has not been agreed as yet and can anyone email me an agreement or contract that I can adapt or change to suit us?

I will be going to see her on Saturday to check out where she will be kept as I want a 5* home for my horse and I want to be prepared!!!

As much help will be appreciated as I have never done this before, only ever just sold.

Thanks
 
I will PM you OK. And can e-mail you a copy of the loan agreement I recently used for mine, which although wasn't a "LWVTB" was basically the BHS standard version with a few other bits and bobs which I added.

Basically, mine was out on loan; being kept at a livery yard and the arrangement was that the borrower would pay all outstanding expenses which would normally accrue to the owner. I'd gone to all the bother of doing up the agreement, moving the horse (at my own expense), and she'd been given a years agreement in advance, THEN over the weekend I've been told that (only 7 weeks into it :( ) she says she can't afford it anymore! (OK there are family reasons as well I have to be fair so not being too hard on her).

So now I've got to go to all the bother of finding someone else OR he could come back to my own yard here BUT I'd have to do something about a stable/shelter as am fully stocked at the mo!!!

So why I'm saying is that to be very careful - you will get a helluva lot of timewasters and also the danger of someone saying oh yes they'd like your horse but basically they're getting a "free" horse and they're not prepared to buy it - with some people you just have to say to them look if you're not going to **** then get off the pot. Grrrggghh. And even the best-prepared loan agreement is as much use as bog paper to be honest coz its not enforceable by law and people will just mess you around IME.

But I'll PM you. Hope this helps.
 
Last edited:
My advice is on do it you hve a good gut feeling. If you go ahead get a deposit. If they cant afford a deposit they cant afford the horse. Do a home check before the horse goes. Once there check again and again and again and again. I had a loan Wvt go very bad once.
 
Yes iv had many a time waster come see her but I understand what you mean.

Im going to want a deposit off her of 10% I think for my own piece of mind that she is serious about buying her. because as much as she seems like the perfect match for her their is always that hunch of getting screwed over.

If I take a deposit ............... how would it work if she didnt want to buy her?

and what do you think a reasonable Loan time would be? enough for her to settle obviously and for this woman to get a good 'try' of her. A few weeks?
Im scared that the longer I leave it the more problems that can occur.....Like she gets fed up having a horse and especially the responsibility over winter etc

Iv owned this horse most of her life and obviously not having the space or finances to keep her and a yearling i want this to go as smooth and easy as possible.

Thank you for that.
 
I did a LWVTB earlier this year for a horse I was selling.
I used the BHS template and just adapted it slightly.

From memory the loan period was just under 8 weeks.
I insisted on seeing insurance cover for the horse and obtained written references.
I took a fairly substantial deposit.

The general conditions of the agreement were:
Purchase price was agreed up front
The loaner was not the owner until the final payment was made
The loaner would forfeit the deposit if the loaner made the decision to return the horse
The owner would return the deposit if the owner cancelled the agreement, with a clause to say minus any monies to rectify negligent action of the loaner

This situation is always risky, it requires a fair degree of trust from both parties and there is always the risk that one party will come off significantly worse if the deal goes t*ts up. Thankfully it went like clockwork in my situation earlier in the year.

Go with your gut and also be sure to check on your horse in the early days of moving it.
 
I thought this would attract more purchasers, but it only attracted people with no money, and how are they going to save when they have the extra cost of keeping a horse.
Unless there is some good reason for loaning I would not do it, with respect to my own boy, I feel that if the person is unable to cope with him on a trial basis, he will be sent back with problems, well not sent back, I will have to go and collect him.
I am honest with people, though this is apparently not the best policy, as he has had no one come to see him.
I could drop the price, and sell him cheap, people are still buying at the lowest end, but really, I want my horse to go to a home where he will be fed and looked after properly.
 
If I was the person who was wanting to buy this horse. I'd ideally want a month at minimum to try the horse. I'd be happy to leave a deposit to show good faith, but I would expect the deposit back if I decided not to buy the horse. I would expect to pay the insurance premium for the trial period, or arrange insurance if none was in place.

I would expect to agree a price prior to the loan. As they have not had it vetted, there is always the possibility it could fail a vet after all this and then she'd fully entitled to return it.
 
The other thing to consider is vetting, if they take your horse and after agreed time decide to buy they may then want it vetted, if a problem then shows you are in a difficult position. This happened with one I sold, the buyer had a 5 stage vetting done after allowing the horse access to dry hay, the vet found it very wheezy and the buyer tried to get the price down. The allergy had been declared.
I would make sure the terms are in the agreement and I would recommend it is vetted before it leaves you or you keep insurance going rather than them taking a new policy out which could then be stopped if something goes wrong, as this could leave you with no cover.
 
ihatework said:
I did a LWVTB earlier this year for a horse I was selling.
I used the BHS template and just adapted it slightly.

From memory the loan period was just under 8 weeks.
I insisted on seeing insurance cover for the horse and obtained written references.
I took a fairly substantial deposit.

The general conditions of the agreement were:
Purchase price was agreed up front
The loaner was not the owner until the final payment was made
The loaner would forfeit the deposit if the loaner made the decision to return the horse
The owner would return the deposit if the owner cancelled the agreement, with a clause to say minus any monies to rectify negligent action of the loaner

This situation is always risky, it requires a fair degree of trust from both parties and there is always the risk that one party will come off significantly worse if the deal goes t*ts up. Thankfully it went like clockwork in my situation earlier in the year.

Go with your gut and also be sure to check on your horse in the early days of moving it.
Click to expand...



This has been a huge help thank you
 
be positive said:
The other thing to consider is vetting, if they take your horse and after agreed time decide to buy they may then want it vetted, if a problem then shows you are in a difficult position. This happened with one I sold, the buyer had a 5 stage vetting done after allowing the horse access to dry hay, the vet found it very wheezy and the buyer tried to get the price down. The allergy had been declared.
I would make sure the terms are in the agreement and I would recommend it is vetted before it leaves you or you keep insurance going rather than them taking a new policy out which could then be stopped if something goes wrong, as this could leave you with no cover.
Click to expand...

I have taken all this into consideration... i will obviously ask her if she wants her vetted.... if she does it is to be done prior the loan that I have no problem with because i know my horse is well before she goes on loan.

The time line of loan im still pickled with a little pickled with.

i will keep her insured but she is to have her own insurance and i want a copy of the certificate.

If she doesnt want the horse then she forfeits the deposit because in the meantime im going to be turning away prospective buyers!

Do you think this is fair?
 
I would say keep your insurance policy going. It is up to you if you ask the loaner to contribute to the payment.

I would definitely state a non-refundable deposit (if it doesn't work out and the loaner has been really good then you can always repay all/part as a gesture of good will) but you don't want to be left out of pocket if the loaner is a nightmare.

At the end of the day how wonderful would it be if you are fully intending to purchase a horse, for say 3K and have a months trial for a cost of 10% (£300) - It has got to be worth the sacrifice of that cash to be able to turn around and hand back an potentially unsuitable horse you would otherwise have been lumped with ...

Also make sure you list in the contract any quirks you know the horse has.
E.g. I wrote that my horse had been known to buck & nap and had been operated on for XYZ
 
The deposit should be kept by you if she just changes her mind, decides that horse owning is not for her type of thing, it does happen. I would say that you have to return it if the horse does not prove to be as described by you.
I feel that you , as the seller need to be as sure as you can that the horse will be suited to the purchaser and that it will do the job required of it, there is no point in hoping they will want to keep the horse if it is not, because they do have a get out and will use it.
I would think that if they are genuine and are in a position to buy a trial of 1 to 2 months would be more than enough, if the horse is not right they will know by then.
The other thing to put in the agreement is it is to be returned sooner if there are any real issues before they make things worse.
 
Yeah i totally agree with this i will keep my own policy but she has to have her own too.
because iv not done this before im just really weary of her coming back at half the condition she is now... but my gut is telling me she is right for her and she seems very genuine so i will go ahead... based on the advice you have all given me. Thank You
 
I have my boy on LWVTB I've had him for 4mths now and had come around by word of mouth and I didn't even go to view him - he was in Ireland and I guess it was cos my sis in law knew the horse and knew what I am like and what I was wanting etc..

Spoke to my boy's owner a few times over phone and emailed loads gave him the yard details - he paid for the transport over from ireland to me.

It is all basically been on trust so am very lucky and fortunate I think.

I have him on a year's loan and provided I am and his owner are both still happy I will buy him, we have already agreed a price, but again this will be negotiable at the time of buying.
And to be honest I already think I will be buying my boy as I have really adore him.

I understand that not all loans work out and there are some horror stories to be told which is sad.
Just have to cover yours and your horses back really have contract drawn up signed by both parties and agree a price in the contract and a rough date of when the loan agreement terminates.
List all equipment, what your horse can and can't do, who is to ride and look after your horse.
Who pays for the insurance, as my boy's owner still pays this for me.

I pay everything including all his jabs.

Good luck and hope it goes well for you all :)
 
All in all, buying a horse is a risk, in fact, buying a walking stick is a risk.
If I want to sell my pony, I don't want him back, but I want to be sure he has a good home.
I have decided to sell him, and for that reason I want to see cash.
 
Merlywerly said:
I have my boy on LWVTB I've had him for 4mths now and had come around by word of mouth and I didn't even go to view him - he was in Ireland and I guess it was cos my sis in law knew the horse and knew what I am like and what I was wanting etc..

Spoke to my boy's owner a few times over phone and emailed loads gave him the yard details - he paid for the transport over from ireland to me.

It is all basically been on trust so am very lucky and fortunate I think.

I have him on a year's loan and provided I am and his owner are both still happy I will buy him, we have already agreed a price, but again this will be negotiable at the time of buying.
And to be honest I already think I will be buying my boy as I have really adore him.

I understand that not all loans work out and there are some horror stories to be told which is sad.
Just have to cover yours and your horses back really have contract drawn up signed by both parties and agree a price in the contract and a rough date of when the loan agreement terminates.
List all equipment, what your horse can and can't do, who is to ride and look after your horse.
Who pays for the insurance, as my boy's owner still pays this for me.

I pay everything including all his jabs.

Good luck and hope it goes well for you all :)
Click to expand...
What will you do if he gets lame and needs a £10K operation?
 
LWVTB is one of those things that suits the purchaser more than the seller. I nearly always want to loan first as I never sell horses on and so I need to make sure it will be a keeper. However, the draw backs for the seller are many:

The 'buyer' may have no intention of ever buying and just be looking for a free horse for as long as possible.

The buyer may have a change in circumstances and no longer be able to buy the horse.

The buyer may not take to the horse and return it and you therefore may miss out on a sale to someone else.

The horse may have an accident or develop an illness whilst in the care of the prospective buyer and you may end up with an unridable and worthless horse being returned to you as well as a big vets bill.

However, there are advantages. Most of all, you get to see if your horse settles in his prospective new home and whether he gells with his new owner.

You get to be able to visit him to check on him for the duration of the loan period to ensure that he is fit and well and being cared for to your standards.
 
A bit of double standards from me, I have previously had a horse on loan with view to buy and it suited both parties really well. However this was a horse with some issues so both of us wanted to be 100% sure.
As it happens it went swimmingly.

However, I wouldn't do it or expect it for an average, uncomplicated horse. I would allow someone to try the horse out in every manner, but it would not leave my yard or my sight. There's too much potential for someone ruining the horse and/or making off with it. I don't trust the law to aid me in the case of the latter, so I would take it upon myself to protect my asset the best I could.
 
Exactly, if I decide to sell a horse I will try to make sure he is going to the right home, but if I want to buy a horse, I put up the cash and take the risk.
If the horse I am selling has issues, I would be OK with someone accepting the issues, and I would accept the risk that he would come back, but no worse than when he left me.
As far as I can determine, the people who want a horse with a view to buy have no cash, and I don t want to send my horse there.
 
Last edited:
Merlywerly said:
I have him on a year's loan and provided I am and his owner are both still happy I will buy him, we have already agreed a price, but again this will be negotiable at the time of buying.
And to be honest I already think I will be buying my boy as I have really adore him.
Click to expand...

How can you agree a price then think it negotiable at the end of the year loan?

Having had the horse for 4 months do you have any doubts over buying him? If you did have doubts or decided now that you didn't want to/couldn't buy him at the end of the loan would you tell the owner and return him or continue on till the year is up then tell them?

Just interested to know how loaners see this.
 
mollyh said:
How can you agree a price then think it negotiable at the end of the year loan?

Having had the horse for 4 months do you have any doubts over buying him? If you did have doubts or decided now that you didn't want to/couldn't buy him at the end of the loan would you tell the owner and return him or continue on till the year is up then tell them?

Just interested to know how loaners see this.
Click to expand...

I was pretty shocked to hear that too.
Merlywerly - do you not think it is bang out of order to expect to negotiate a pre-agreed price, especially when the owners have been very generous in the length of loan they have given you?
 
MrsD123 said:
Exactly, if I decide to sell a horse I will try to make sure he is going to the right home, but if I want to buy a horse, I put up the cash and take the risk.
If the horse I am selling has issues, I would be OK with someone accepting the issues, and I would accept the risk that he would come back, but no worse than when he left me.
As far as I can determine, the people who want a horse with a view to buy have no cash, and I don t want to send my horse there.
Click to expand...

Although I fully appreciate your viewpoint I do think it is a shame, you could potentially loose out on the perfect home for your horse. The one I referred to above the loaner/buyer put down a 1K deposit on said horse, and paid the balance within 2 months. The horse has since been adorned with all variety of new spangly kit. Not everyone who wants LWVTB is skint!
 
ihatework said:
Although I fully appreciate your viewpoint I do think it is a shame, you could potentially loose out on the perfect home for your horse. The one I referred to above the loaner/buyer put down a 1K deposit on said horse, and paid the balance within 2 months. The horse has since been adorned with all variety of new spangly kit. Not everyone who wants LWVTB is skint!
Click to expand...
Yes, if they put up £1000 that would show commitment, but those I have spoken to have NO money, not a penny for a deposit.
What so I do if they fail to pay?
Well I can tell you, I have to pay someone to collect it: they will make a scene and a fuss and NOT return rugs and other stuff which they were given. so I have lost control of the animal to some person who goes back on their word I have been in this situation twice, and would never ever do it again.
But I am open about the horse and its potential and ilimitations [I am not selling an international jumping pony at this price] but that seems to be irrelevant, for example I have a nice pony who is not a native breed, someone wanted to show him [they said] but there are few classes for him, and he has conformation faults so is not show standard. They spent a lot of time jumping him, which again went against the "showing thing", he was lame after they had him for an hour, so I don't know what they did [that "loan" lasted an hour]
 
Last edited:
You could miss out on a potential good home, but you could also end up losing the horse. Of course with a substantial deposit it's a little different however, I know which of the above I'd choose. You get find other good homes, but not many people can afford to replace the value of a horse ruined.
 
ihatework said:
I was pretty shocked to hear that too.
Merlywerly - do you not think it is bang out of order to expect to negotiate a pre-agreed price, especially when the owners have been very generous in the length of loan they have given you?
Click to expand...

No I do not think it is bang out of order as you put it at all, as you do not know my situation with regards to me the horse and the owner, I do not expect anything thank you very much either the negotiable part has been mentioned by both parties thank you.

He is on a year loan regardless if I was to buy him or not.
Enough said.
 
mollyh said:
How can you agree a price then think it negotiable at the end of the year loan?

Having had the horse for 4 months do you have any doubts over buying him? If you did have doubts or decided now that you didn't want to/couldn't buy him at the end of the loan would you tell the owner and return him or continue on till the year is up then tell them?

Just interested to know how loaners see this.
Click to expand...

He is with me for the whole year regardless of if I was to buy him at that point or not.
His owner and myself get on very well and talk often too, he has no need to want his horse back either.
It is an agreement both himself and I have agreed.
 
I'm looking at loaning a pony with view to buy next year; I've only just got a job so will be saving some each month until I have enough. As the pony has done nothing for nearly a year, and is overweight, I expect them to sell at the price he is now , after all I'm doing the work and he would probably worth a lot more after the years loan.
 
Last edited:
AngieandBen said:
I'm looking at loaning a pony with view to buy next year; I've only just got a job so will be saving some each month until I have enough. As the pony has done nothing for nearly a year, and is overweight, I expect them to sell at the price he is now , after all I'm doing the work and he would probably worth a lot more after the years loan.
Click to expand...

I agree the price should be decided before the horse is removed from the owner.

Merlywerly - if that's your agreement then that's fine if you both see it in the same way. In general I think it isn't acceptable to agree a price, remove the horse from it's owner, have it for a year and then try to negotiate the price down. It's been done to me even though the horse had been perfect - that's why I was interested.
 
You must log in or register to reply here.
Top