Question. Having taken a deposit

Enfys

Enfys

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for a horse today, where do I stand with regards to being asked not to do anything with the horse? As in ride or, in the case of this horse, continue loading practise specifically. I have also been asked to take her advert offline, but have refused to do so until she has been paid for. (Pessimist) I have been telling people that she is 'under offer' (as it were) and I will get back to them in due time, I see no point in cutting my own throat if this deal goes belly up.

Technically, she has not been paid for, therefore, she is still mine, but, having taken a deposit I feel that she is not ALL mine any longer. If she needed the Vet, who is responsible for that?

Also, as the agreement is to take payments over two months with the horse staying here, would you charge Boarding fees for her keep until she is paid for? Husband says I should.

The new 'owners' have also asked to come and ride her in that time, where do I stand on that?

Is nothing ever simple?
 
A deposit doesn't give them the right to treat your Horse as if they own it, it is a good will gesture to prevent you selling the horse on to someone else within an agreed time.
I would suggest to this couple that if they are going to be riding her now on a regular basis until she is paid for in full, Then they will have to contribute towards costs and chores.
You could give them a part loan, I have one and I have to contribute £20 a week, and my mare is turned out 24/7.
Have you had anything in writing to say that they have to have paid a certain amount of money in a certain amount of time, or the deals off so to speak, otherwise they sound like they may take you for a ride.
Failing that, give them there deposit back, and tell them to sling there hooks.
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Thats a bit of a funny one as it is neither one thing nor the other. I usually put a deposit on a horse as an 'intent to buy' with the understanding that it be returned if the horse fails the vet. However in your scenario you wont be receiving the payment in full for quite some time ! I suppose you can either assume the horse is theirs (as they have shown intent to buy), in which case they insure it, pay board for it etc, and are responsible for any vets fees. Or you can say its yours until fully paid for, in which case you are responsible for any bills, vets fees etc but you can do what you like with it - and that includes loading and riding. Either way I would get it written down so everyone is clear ... Hope it works out for you
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I would be asking them for the balance of the money owed, and then as a goodwill gesture keep the horse for the agreed period of time for free, on the understanding that it is then *their* horse.

I would then treat it as a full livery, ie...look after it but do nothing else.....

What happens if it hurts itself and they decide they dont want it?? It will be into winter with horses even harder to shift!!
 
As above. Sorry, but protect yourself. If they havent the money to buy it straight off, they haven't the money to pay vets bills etc and how appropriate to hand it back to you if they injure it.
 
I sold a horse this year and I told them I would keep it for a couple of weeks until they were completly ready. They paid a deposit and I took it off the market. They came down to ride a couple of times and I carried on as normal. Six weeks later they came and picked her up. They then on their part gave me a nice bit of money for my 'troubles'. I did moan that they were taking the pee but after they gave me some pennies I soon forgot.
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I would take the advert off if it was me as the deposit should cover the cost if you have to advertise agian.
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I think you should take the advert off, as a deposit is supposed to pay for the cost of advertising should the buyers let you down.

The rest is between you and them to work out, I think, as they are paying in installments which makes it an unusual case. If they want to treat the horse as 'theirs', i.e. coming and riding her, not allowing you to ride her, etc., then they would have to be responsible for all vet bills, insurance, etc., and possibly pay livery as well, I would think. But I have no idea what the law is on this???

It sounds to me as though you need to decide between you who the horse 'belongs to' during this period, and then arrange things accordingly. She can't really belong to both parties - that makes things too messy should she be injured or something. If I were you, I would prefer to insist that she belonged to me until fully paid for. I think this would be the more usual arrangement in these circumstances.

But I do think the advert should come down, as that is what the deposit is for.
 
I am really pleased you have found buyers for your horse, but this arrangement sounds so complicated if it goes wrong it will be a complete nightmare!

I think you need to give them two options:
- either they pay a deposit but the horse is yours until they pay the entire amount
- or they pay the entire amount now and the horse is theirs.
In the first instance you are responsible for insurance, vets, keep, etc. but can do whatever you like with your horse, which might include allowing them to ride occassionally.
In the second instance they are responsible for insurance, vets, keep, etc. you can't do anything with the horse without their permission, but may decide if you want to offer them free livery for a prespecified period of time.

Anything else and you could be in a bit of a mess. Imagine if they only pay the deposit, then ride the horse, have an accident where they injure the horse and someone else requiring public liability. They then claim that they have not bought the horse, you are responsible as the owner and you are left with an injured horse!
 
Funny you should write this now Enfys as last week the same thing happened to me.

The way I am treating it is that this is not a "deposit" but a "payment" towards the horse. In my buyers case, they put down a fairly hefty amount of money which is in my bank account, and they are paying the balance in 4 weeks time when they come to collect the horse.

I have told people that the horse is sold subject to final payment.

I am not charging board for the horse however if anything were to happen to said horse then I would share costs because as it stands right now, I am part owner of the horse.

Once I have a payment for any horse, I stop doing anything with it. I simply feed and care for it until collection; I don't ride it or do anything which contains any element of risk. To be honest, I can't wait to get these sort of horses off my property
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I would not allow your buyer to ride the horse unless you have a contract drawn up. If they bugger up the horse then yes they will have lost their money paid so far, but you will be left with a non-saleable horse!
 
I'm afraid I wouldn't go there it's a minefield as to who is responsible for what payments i.e vet bills, feed, hay, bedding in that period of time. Also what happens if the pony is injured & can no longer be ridden prior to final payment.

I believe they either buy the pony or they don't, I would have allowed them a week or so to get the funds sorted out & that would be it. I would also keep the advert on the net & advise any callers that the pony was sold subject to payment but keep their details should the sale fall through.

Around by me sellers have an arrangement with the banks, they don't arrange loans or credit & in return the banks don't sell ponys & horses...... & it seems to work
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I would not allow them to ride and not require them to pay board. I would say that the horse is your property and responsibility while it is still with you and not fully paid for.

That being said, anything is negotiable between you two ask them to handle it how you feel most comfortable. They will be the ones willing to negotiate because thet need the payment plan that was very kind of you to extend them . Just be SURE to get it all in writing is my advice.


I did buy a horse once and paid the bulk up front but needed a month to get the rest. I was full owner at that point (In wirting) and although I kept him there for two months I had to pay board so was allowed to ride after signing a board agreement.
 
I have sold a few horses over the last 20 odd years (mainly because i like to buy babies and dont ride so when they are old enough to ride i sell them) but wouldnt want an agreement like yours unless its in writing, it does sound like a legal minefield. I think i would be tempted to return the deposit.
 
Thankyou all.

It is a common enough arrangement over here to make payments on a horse, not something that I had ever come across in Britain though.

Naturally there was a written agreement, I sometimes forget to state the obvious I am afraid, sorry for confusion.
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Anyway, the buyers came back up today (two hour journey) with a wad of cash, rest is promised for next week, if it doesn't arrive, the horse goes back on the market, and I keep the deposit...their suggestion, and in writing ! (for what that's worth)

So, queries have been hammered out, they don't ride, and I don't do anything other than feed and care for the horse. Happy bunnies all round.
 
Can anyone help me? someone makes a part payment on a horse with a verbal agreement that they will return in a few days to pay the balance, then doesn't contact again for over a week only to say they no longer want the horse and want their deposit back. I was under the impression that a deposit or part payment was an intention to purchase and meant the horse was 'sold' to the buyer. Having been telling other callers that the horse was sold as I believed it to be where do I now stand with regards to returning their money?? Can't find any info anywhere on the internet, please help!
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Once I have a payment for any horse, I stop doing anything with it. I simply feed and care for it until collection; I don't ride it or do anything which contains any element of risk. To be honest, I can't wait to get these sort of horses off my property
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You're not the only one - but I have to say I disagree with that approach profoundly. A now client of mine bought a sport horse from a well-known up-market dealer for her 14 year old daughter. Dealer kept the horse in the stable for 2 weeks prior to it being collected - not ridden, not turned out, nothing!! Girl was nearly thrown first time she got on it and that started a downward spiral - dealer blamed new owner!

Horse came to us for sorting out (it was green as grass), daughter for lessons on it and now all is well - but it could have been a disaster.

As I see it, a deposit is a commitment to buy (usually subject to vet.) But the horse is MINE until it is paid for in full and I manage it appropriately; that includes schooling, hacking, turn-out as I see fit. IF the horse was injured during that time, then I lose. But NOT exercising it appropriately MAY result in buyer coming back in two days and saying the horse must have been doped when they tried it - perhaps after it's hurt them.
 
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