Loan with a view to buy......

Supertrooper

Supertrooper

Well-Known Member
Joined
12 March 2010
Messages
14,101
Visit site
Can I ask some questions to anyone that's done this when selling their horse.

Did you have a contract?

Did you do a list of items the horse went with?

How long did you generally have the loan period for?
 
Yes I have sold this way. I had a contract (adapted BHS), I took up references, I took up copies of ID/address, and was paid a non refundable deposit. The loan was just under 2 months during which I checked up on the horse. Entire experience was smooth and hassle free. But you have to make sure expectations of both parties are aligned.
 
I did this with my horse. We had a contract adapted from the BHS one. Ours was very detailed but originally it was a loan agreement as his owners weren't sure they wanted to sell him. We had listed everything he came with, any ailments such as he coughs when he first trots, he has suffered from thrush etc and any restrictions for example they were happy for other competent, calm
Riders to ride him but no one novice. We also included everything I was responsible for - vet fees, livery, insurance etc. We also agreed a price for him in case they decided to sell during the loan period which was set for a year initially. Well after 4 months they were so happy with how we were getting on they asked me if I wanted to buy him and almost halved the price as they knew I couldn't afford the full amount at that point!
 
You certainly need a agreement, its been known for people to sell horses on while they are on loan so you do need to be careful. Make sure you have a name and address for the loaner and check its genuine.
I would want to check out where the horse will be kept. I would put a clause in the agreement if there is anything you dont want done with the horse.

You need to be very clear on what the loaner is responsible for. ie vets bills insurance etc.
 
I bought my horse loan with view to buy, he was dropped of at my yard so she could see where he was going and we both had copies of the loan agreement (think this was just a standard one) but detailed in the contract was the price I would buy him for should I decide to go ahead after the loan period of 3 months. While I had him she retained the passport and I was responsible for all costs including his insurance and vaccinations (suitable insurance was also detailed in the agreement) I got him in winter so with dark nights etc it gave me the perfect chance to get to know my boy, before making the deciding to buy, although to he honest I knew he was coming home with me as soon as I saw him :)
 
You must log in or register to reply here.
Top