lwavtb experts, advice please?

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kateknights

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Hi guys, I want to sell my boy but he is rather quirky so was thinking about lwavtb, so my questions are, how long do I do the loan for? Do I have to do a contract for the loan period, stating that he's to be paid for at the end of the loan if all goes well? Can I view the potential new home? Do we agree a price before they take him? Sorry to sound a bit of a numpty, but I just want to get things right in my head before I decide weather or not to do it, thanks in advance Kate
 
I had 3 horses on LWVTB, I had them for 2 weeks. I paid for them to be insured and included loss of use. I also paid a deposit agreed by the owner. They printed off a loan agreement which I signed, stating the purchase price, less the deposit, which was refundable subject to a vetting. The owners were local so came to see where they would be kept and I treated them as my own. After the loan was up I had them vetted and bought them.
 
I would do a standard loan contract (there is one on the BHS website) for a month and add a clause that if at the end of the period they want to buy the price is £xxx.
Agree the price before your horse goes. I would also have a clause saying that he can be returned with 48 hours notice from either side. Visit him regularly to make sure things are going well and always have someone as a witness with you.
 
I'd have a loan agreement exactly the same and covering everything as if he was going on permenant loan (who is responsible for what costs, what he can/ can't do etc.)
I'd insure yourself and (if it's a long period of loan) then get them to pay you the premium. Go and visit where he will be, take copies of their passport so you know they are who they say they are and certainly a deposit.
The length of time a little depends on your horse - if he's easy and quick to settle 2 weeks should be plenty, if he's quirky and might take time for them to get to know him it may well be longer before they can decide.

Definitely agree a price, you don't want to have him off the market and out of your control to find they only want to pay half what he was advertised at !!

Vetting is tricky, as a seller I'd say you'd want vetting done before he goes (so they know they are getting a sound horse) as a buyer I wouldn't want to pay for a vetting until I knew it was the right horse! If he's away for 2 months and then fails a vetting could you be sure the problem didn't arise while he was with them?

When I bought my old boy I had him on 2 weeks trial and vetted him before I took him on loan (didn't want to invest time and money if he was going to fail anyway!)
 
It is much like a standard loan, so yes, homecheck at the outset and again every 6 months if the loan period is longer than that. Agree the price beforehand, so that any increase or decrease the loaner makes to his value they will get the benefit of, and also agree the loan period, usually 6 months or a year, depending on how "made" the horse is. I have an agreement which is pretty much the standard BHS one, with the addition of price and the words "During the loan period it is expressely forbidden for ..................(name of horse) to be sold or loaned to a third party". That means that in the unlikely event the horse does go missing it becomes fraud (police involvement) rather than just a civil matter. Horsewatch advised this so I guess it is well worth while.
 
Agree the price in writing before loaning, and also have the potential loanee/puchaser vet the horse prior to it leaving your yard.

Do a standard loan agreement, of say 1 month.
 
Definitely agree horse price up front.
Definitely insist that if they wish the horse to be vetted then this is done before leaving your property.
Consider taking a deposit, and agree under what circumstances that deposit is refundable if the horse is returned.
Don't have too long a loan, 2-8 weeks is sufficient.
Get references and a copy of paper documentation verifying their resident address.
Keep the horse insured in your name until sold.
Definitely check out where they intend to keep the horse, and write into the agreement that you can check on the horse through the trial period.

Good luck, I've done it successfully.
 
Cant stress enough to agree the price before hand, as everyone else has said. Ive heard so many stories of horses going on trial with no price agreed & the buyers offering peanuts & the owners feeling pressured into selling.
If your going to get them to insure also make sure you see the insurance policy before your horse leaves, its easy for people to say they have insured them when they havnt.
I would also add that any vet bills incured while the horse is in their care, unless it was for a pre-existing condition, are their responsibility.
 
navaho said:
If your going to get them to insure also make sure you see the insurance policy before your horse leaves, its easy for people to say they have insured them when they havnt..
Click to expand...

I'm not sure this would be enough for me for a loan period longer than a couple of weeks - someone could easily cancel the insurance after a month and get a refund then the OP is stuck with a returned uninsured injured horse if things all go wrong!

Or if worst happens and horse dies, the loaner collects the cash and (unless very nice and honest) the OP will have to chase round after loaner for the cash.

Just keep your own insurance for piece of mind, just let them know he's going out on loan.
 
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