putting a deposit down, subject to vetting???

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kateknights

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As the above, if I like said horse I am viewing on Friday and we agree a price, I obviously put a deposit down to secure it?
In the mean time sort a 5* vetting out, what happens if horse fails the vetting, do I get the deposit back?
Or is that wishful thinking?
Also how much deposit on a £2.500 horse?
Thanks Kate
 
10 to 15% of the agreed (not asking) price, is a good place to start.
Make sure you have a receipt, and the wording is clear on it regarding any reasons for refund of deposit. (reasons: failed vetting due to unsoundness, vet considers horse not fit for the purpose you were buying horse for, if you change your mind, if horse suffers injury after deposit paid & vetting carried out etc)
Worth also getting in writing how long you have to arrange collection of horse should it pass the vetting etc & what the balance of payment is to be.

Good luck - hope it works out :)
 
Agree with the above. Please make sure you do any haggling prior to vetting and ensure you get a receipt with full details as per the post above.

Good luck :)
 
In theory you put a deposit, and if the horse fails the vetting, you get the deposit back. But as The Fuzzy Furry have said, make sure that you get a written receipt stating that you've paid so and so much, and that you get the deposit back if the horse fails the vetting.

To be on the safe side, take a piece of paper and a pen with you, just in case the owner have not prepared themselves, that way, you can make sure that you don't hand over any money, without getting a receipt. As with most things in life, if you're unlucky, then even with a receipt, it can happen (even though it shouldn't) that you have trouble getting your money back.

In general, I would expect the deposit to be 10% of the price, but I've heard of people paying more, in rare cases up to 25%.
 
I really don't get this deposit business that you guys over there seem so stuck on. If you like the horse, just ask the owner if they would mind it being vetted, if they say that's fine then arrange for a vet to go and do the vetting as soon as possible. If it passes vetting and ticks all boxes, buy the horse. If it doesn't, walk away. I don't take deposits on any of my horses and if a buyer wants to have them vetted then I simply delay other viewers until after the vetting. The first suitable person to enquire/take a great interest about any sales horses I have are always given priority over anyone else. Works for me.
 
Do not be in a great rush to leave a deposit or agree there and then to buy, if you have looked at a lot then you may be absolutely certain it is the one you want but if not go home and think about it, look at the video you have taken, if you have the chance to get some it will be really useful, then phone and make an offer subject to vetting, if the sellers are really pushy don't get pushed into a hasty decision.
If you can go back for a second try do so, if not try and go to the vetting.
 
SF - all very sensible but it does seem quite common over these parts to secure with a deposit to show firm interest and stop horse being viewed/sold to others. Would be nice if people did as you did and take it on trust as buyer is forking out for vetting which probably matches or exceeds the deposit and clearly shows willing, and then no argument about getting your money back!

OP - good luck with the viewing, have been following your recent threads, I like being a vicarious buyer :)
 
I hope it goes well for you Kate you deserve a bit of luck! When we have been buying we have left a 10% deposit subject to vetting. However we did view a yearling a few years ago who although it passed the vetting the vet strongly advised not to buy as worried about a hock so we didn't go ahead with the sale. We hadn't left a deposit as it was someone on our yard but we would have forfeit it in that case. We did end up paying two weeks livery to keep the peace! In general I would say don't leave more deposit than you can afford to loose if things go wrong. My current lovely mare the seller wouldn't take a deposit and I was terrified he would sell her from under me but as it happened we viewed Sun morning she was vetted Mon morning and he delivered her Mon night! What are you going to see?
 
First to come with the money or deposit gets the horse! You cant turn away serious buyers with cash and who are in a position to take the horse for the sake of those who want their instructor..... then their freind..... then the vet.... to see it!!!
If someone wants a vet, take a deposit- 10% or so- and give it back if the horse fails or vet advises not to buy.
 
I've never put a deposit on a horse, it's always just been subject to vetting, and the seller just holds off until you arrange the vetting. It would be way too much hassle IMO to try to get it back if the horse fails.

I once put a deposit on a lorry subject to it being checked; the mechanic told me not to touch it with a barge pole. I had to get a solicitor to write to the seller to get the money back :eek:

I do believe though, that if it's the right horse for you, it will all work out :)
 
If possible I'd always recommend seeing a horse more than once before deciding, very hard to make such a big commitment after less than an hour with a horse, you might want to ride him in the school, do some jumping, take him on a hack etc. all of which might be a bit much in one session.

On the deposit front vettings are rarely black/ white with pass or fail, the vet will make observations and may suggest that a horse isn't suitable for your purposes but it may be that something comes up which the vet thinks might be OK but you don't or something the vet thinks is bad but the seller thinks is them over reacting! Something like a small difference in size of hooves - could be nothing could be a disaster.
So make it clear in the receipt that the deposit is to be refunded in the event the vetting identifies any issues - don't use the words pass or fail because these won't appear on a vets certificate.
 
I put a deposit down on a horse subject to vetting (5 stage) – the vetting vet looked at the teeth and noticed a problem – possible fractured tooth rear molar. The seller wanted it looked at and dealt with by her equine dentist and not a vet.

The tooth was believed to have a slab type fracture and was dealt with by the dentist (a fews days later) but he couldn’t confirm that it was ok as needed to heal for 1-2 weeks.
In theory the horse passed the rest of the vetting with flying colours but I wanted the horse insured and what with the a splint on 3 of its legs, a few sand cracks and then this tooth concern I decided to pull out as the insurance company would put far too many exclusions on the horse and I lost the deposit.

In theory the horse needed to be vetted again after the tooth had healed. I had contacted my equine dentist and my vet who both told me to walk way and the BHS for legal advice too. I lost the deposit and had to put this down to experience.

If I was to buy a horse again then I would put in writing that the deposit paid was subject to passing a 5 stage vetting and that all teeth are in good order and with no obvious problems at the time of vetting. Please also request bloods.

I hope this helps.
 
Spring Feather said:
I really don't get this deposit business that you guys over there seem so stuck on. If you like the horse, just ask the owner if they would mind it being vetted, if they say that's fine then arrange for a vet to go and do the vetting as soon as possible. If it passes vetting and ticks all boxes, buy the horse. If it doesn't, walk away. I don't take deposits on any of my horses and if a buyer wants to have them vetted then I simply delay other viewers until after the vetting. The first suitable person to enquire/take a great interest about any sales horses I have are always given priority over anyone else. Works for me.
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This is what we normally do to. OH says that if you're arranging vetting then that should show commitment enough that you want the horse and seller shouldn't have a problem if they think the horse will pass. Thing is, a lot of vets don't 'fail' a horse as such, so it may throw up things you're not happy to proceed with purchasing for but the vet could still class as fit for purpose - in which case technically you wouldn't be entitled to your deposit back.
 
ive never done vettings :o but i normally put £100 down and say i will collect tomorrow :D

my last filly was 2 day gap as i was moving yards at the same time and was very very rushed....but all about trust....but times have changed i guess!...
 
I have never put down a deposit, always gone to see horse twice, second time with a knowledgeable friend/trainer and agreed a price subject to vetting and then got vetting asap and been present. I've never had a problem. I'd worry about leaving a deposit as it could be a problem getting it back.
 
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