Seller wants first refusal...?

tobiano1984

tobiano1984

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I'm buying a 3 year old sports horse, and for the price agreed the seller (and breeder) has asked for first refusal if I sell him on. What does this mean? Is it just a formality basically saying that if he breaks down or is utterly useless I can give him back to her rather than send him to a dealer or something unpleasant?

Obviously a 3 year old smart sports horse is going to go up in price considerably once broken, competing etc, all things going well, so what are the implications here? If I decide to sell him is it just a case of calling the original owner and telling them how much he is, or are they expecting to buy him back at original price??

Any advice appreciated - I kind of nodded and said 'yes, sure' but afterwards am wondering what I've let myself in for - no money has changed hands yet...
 
Unless you have a contract that says the seller wants first refusal and maybe even at a certain price it really means nothing. If you decide to sell your horse though they would have to pay the price that you are wanting
 
The seller is just asking you to contact them if you decide to sell the horse (for whatever reason) so that they can have the option of buying it back. It's also a bit of reassurance for you, because if the worst does happen - ie loss of use of the horse because of injury, you might be able to gift the horse back to them for an end of days home.
 
Basically it means that if you decide to sell, at whatever price you decide, they would like to be offered it first, before you advertise him. Doesnt mean they'll take him back if he breaks down or turns out utterly useless though!

Its usually a good sign in that they genuinely like the horse.
 
As a matter of courtesy, if you do ever decide to sell him on, you could let the seller know that he is for sale.
This is not a contractual arrangement though, once the horse is yours, you can do with it as you please.
Often breeders do make this request, as they want to keep track of their foals but equally, when a horse has left the yard, it is frequently forgotten about and a seller who seemed very reluctant to let an animal go, hasn't the slightest interest init a few months down the line.
 
I always do this. It's just a way of me being confident that the horse (as far as possible) stays in good hands. For example if one of my youngsters didn't work out for someone I would far rather buy it back (admittedly at market value) than let it go down the slippery slope of crap owner to even crapper owner. The one time somebody did offer me the horse back I didn't take it back though so no guarantees (it ended up in a fabby junior PC home which was far more suitable than mine!)
 
When I sold my horse I said this to my buyer so that if for what ever reason she sells if she could let me know first so that if I can I will buy him back. Obviously if she asks too much money or I'm not in a position to buy then fair enough.
People's situations change and can't always provide a "forever home" as they said they could and if my buyer could no longer have my old horse I would like to think that the pressure of selling is removed as she knows I would have him back.
 
First refusal just means that the old owners would like to be contacted before you advertise the horse should you decide in the future to sell it.
It is up to them to decide if they wish to buy the horse at whatever price you wish to sell it at.

They are not obligated to buy at any price and you are not obligated to sell to them.
 
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