Paying for purchase of horse

C

Cassy

Well-Known Member
Joined
4 July 2007
Messages
483
Visit site
I have recently sold my horse and he is being picked up tomorrow afternoon. So far no money has changed hands. I have given my bank account details to the purchaser. I don't want to seem pushy but should I be asking for the transfer to take place before my horse is taken away. Or do I keep the passport until funds have cleared into my bank?
Thanks
 
Never been in this situation. But I think you would be mad to let your horse leave your care without funds being transferred first, and confirmation that it has arrived in your account.

ETA: as a buyer I would also not expect to turn up and take a horse away without having paid anything!
 
I've always paid in cash, either handed over when the horse arrived (when delivered by seller) or when I went to collect the horse from their yard.

If I was selling, I wouldn't let a horse leave my control without full payment.
 
Don't let your horse leave the yard before money is safely in your account! I would be asking the buyers how they are paying (i.e. cash on collection) or if bank transfer was agreed, why it hasn't yet been sent. Bear in mind that tomorrow is Sunday so funds may not clear til Monday! Ask for proof of bank transfer as well - I sound really cynical but you can't be too careful these days!
 
Don't let the horse go without the money no way never, the passport is not proof of ownership, ring them today say you have not had the money put into your account so will they be bringing cash when they pick him up.
 
Its not being pushy.... they wouldn't let you walk out of Tecos without paying for your shopping now would they??

No money = No horse, under no circumstances would I let horse go until I had the cold hard cash in my hand or in my bank account.
 
Definitely payment before horse leaves yard, and remember that the passport has to remain with the horse especially for transit.
 
Don't let them go without cleared funds. Had something similar when I sold my mare years ago. Turned out the people didn't have the money so after they had her for 2 weeks we had to make the 4 hour round trip to go and pick her up. And they hadn't paid the livery costs!
 
MMm thanks a lot. I think I had better contact them today. If I look at my account later today and the money appears to be there is that ok? I do use internet banking so can check. Sorry I am not used to selling horses or anything else for that matter. I am thinking if I was the one buying would I want to put money into someones bank account when I hadn't collected the horse. I suppose cash in hand is the only safe method, but a bit late for that now.
 
If you want to be totally sure, phone the bank to check that any funds are definitely there and cannot be removed by the buyer for any reason.

If the buyer doesn't want to pay for goods (horse) before collection because the don't want to trust a random stranger (you) not to run off with their money, then they have the option of purchasing from a business (stud farm or dealer) where they can probably pay for the goods by credit card at time of collection. A horse of the same age/height/breeding/standard of training etc would probably cost more though.

People should not look to save money by buying privately then expect a 'business' type service/transaction.
 
They pay first then you hand over passport and horse. Remember passport is not proof of ownership. Genuine buyers would understand. If in cash ask if they've checked it, then check it yourself. Have they taken insurance on the horse? Sorry but that's the way it is. I sold a pony to a so called friend I foolishly let her take him home without payment. She turned pony out he got entangled in barbed wire she returned him saying because he was now scarred she didn't want him any more! Bless him he recovered and with little scarring.
 
Second what Sugar and Spice says! I have read somewhere of people being scammed by money being paid in to their account for something and then the money being taken back, can't remember why I am afraid.

I would expect cash, my son sold his car recently and was paid several thousand pounds in cash, and do check it!
 
I would be extra careful with this happening on a Sunday when you might not be able to accurately check funds. Perhaps they're just first time buyers, or not comfortable with handing over large amounts of cash.

(I've been in a similar situation with selling vehicles, when people sometimes do prefer a bank transfer, say if they're coming over on the train to ride/ drive back. In this case I asked for the transfer to be via BACS with associated reference etc and copies of paperwork in addition to seeing it in my account, plus I take down driving license number/ photo with phone. Overkill, but haven't been scammed yet.
Oh and at the final sale I record on the phone, are there any further questions you would like to ask, I am selling you a XXX, (details) at price XX on XX. eg a car which passed an MOT last week and is thus roadworthy, safe and appropriate for use to the best of my knowledge and satisfaction of inspectors. Ask if they the buyer have inspected it to their satisfaction. For the horse I'd include passport and microchip number etc in this. Just a thought, costs nothing, covers your bum a bit!)

However I've only ever paid cash for horses, even at auction.
 
They should either pay cash on collection or bank transfer, if they have said it is a bank transfer but the money is not in your account then you will have to delay them picking the horse up until funds have cleared. I would phone them now (after you have checked the money is not in your account) and ask them if they are going to pay cash on collection as the monies are not in your account. If they say no then you will have to tell them they cannot pick up the horse until monies are received. On no account be swayed by anything they say to you on the phone, ie - 'well we have paid it so should be in your account soon' this is just asking for trouble. If they are decent honest people they will make sure you are paid before they pick up the horse, you need to speak to them and sort it out. Good Luck.
 
Bank transfer is safer, they can do so while at your yard if they use internet banking. Assuming the horse isn't costing in excess of the amount their bank will allow to transfer over the internet (£25000 is normally the limit but banks all vary)
.If they do not do internet banking, cash.
However you need to be fully able to verify the notes aren't forged, and check the amount while they remain on the yard.
I work in a Bank, and we have many instances if customers selling items,coming to pay the cash in,only to discover a high percentage is forged. They have then sold the item,and made a substantial loss in some cases.
My daughter also works for a dealer, who one day forgot to check the amount he was paid, and the buyers had shirt changed him by £200.
So,please be careful.
 
I've paid by bank transfer in the past. It was sent through the day before collection, and the seller confirmed she'd received it prior to us setting off.

It's not unreasonable to request payment beforehand, or alternatively cash on collection.
 
I have, in the past, paid by Building society cheque made out to the vendor. These cannot be cancelled, as soon as the cheque is made out the money is taken out of your account and so you cannot bounce the cheque.
 
I paid for my newest pony via bank transfer. I did it the day before she was delivered to me.. My other pony was paid for with cash, again a day or two before she was delivered to us. If I had been picking either of them up myself, I would probably have paid cash at the same time as collecting them. I really wouldn't let your horse leave the yard before cash is in your hand or the money is in the bank.
 
I must be so naive, I've always paid by bank transfer well in advance of taking horse...even dropped in the price of livery until date of collection
 
This is interesting. Those of you who pay by bank transfer - what would happen if you turned up and horse has already gone, is there a way to get the money back?
I wouldn't fancy carrying ££££'s in cash either! Horse was originally a loan and pony was cheap so not a problem!
I'm just thinking if you are paying 1,000's for a horse - what would be the best way to pay??
 
If you phone your bank they will up your limit for cash withdrawals from an ATM for 24 hrs.
I've paid in cash for all my horses and my lorry.
 
What does happen if you pay by bank transfer and the horse is gone or if being delivered doesn't turn up?
Can you get your money back?
I sent money to my son via bank transfer and was told when the money leaves your account it's gone and there is nothing you can do.
 
keri66 said:
What does happen if you pay by bank transfer and the horse is gone or if being delivered doesn't turn up?

**you're stuffed**

Can you get your money back?

**No. Well, maybe if they're convicted of fraud and they still have the money the court would award it back to you?**

I sent money to my son via bank transfer and was told when the money leaves your account it's gone and there is nothing you can do.
Click to expand...

Private sales are "buyer beware". It doesn't mean beware everyone is out to rip you off, but beware the risks are all yours (as the buyer). It's why things cost more from business, there are secure transactions, guaranty you'll get the goods (or a refund), returns policies, the Sale of Goods Act and maybe after sales services.
 
keri66 said:
What does happen if you pay by bank transfer and the horse is gone or if being delivered doesn't turn up?
Can you get your money back?
I sent money to my son via bank transfer and was told when the money leaves your account it's gone and there is nothing you can do.
Click to expand...

You would have to get a court order to recover the money.
 
You must log in or register to reply here.
Top