Selling help re deposit !!

[davejoiner]

hi i've sold my youngster taken a deposit people really keen. i've had an email today saying they dont want the horse anymore and would appriciate the deposit back however i have used the deposit to put a deposit on a new horse !!!! do i have to give their deposit back? HELP

 

[Bowen4Horses]

nope... that's the whole point of deposits. tell them that. you could have turned away a genuine buyer in that time. x

 

[AmyMay]

Personally I'd give the money back. It's just not worth the hastle.......

 

[Skhosu]

I wouldnt give it back, that's what the deposit is for! If I had put a deposit down I wouldn'texpect it back unless horse failed the vetting etc.

 

[davejoiner]

found this on citazens advice

Can I get a deposit back if I decide to cancel the service/goods I ordered?
This information applies to England, Wales and Northern Ireland

You may be able to get your deposit back if it was put down as part-payment. You should remember that the trader is entitled to compensation because you have broken the agreement for goods or carrying out a service so keeping part or all of the deposit might be reasonable if the trader has spent money based on your order.

If you change your mind and it seems reasonable for the trader to keep the deposit because they have already spent money based on your order then you do not have to pay any more than the amount of the deposit.

Deposits can be refunded if the trader has not kept their side of the agreement or if you and the trader agree beforehand that the deposit would be returned in particular circumstances.


So i have used the deposit for a deposit for a new horse so does that mean i dont have to give it back to them?

 

[Hannah1Pie]

Yeah ide say the same the whole point of the deposite in any case is that if you hand it over you dont get it back, put your foot down and say no

Unless she really starts bugging you and getting overly angry about not getting it back in which case it may just be easier to give it back but for the moment say no and see what she says about that

 

[davejoiner]

I dont mind if it doesn't sell and she want it again honoring the deposit. if you put a deposit on a house and pulled out you wouldn't get it back so...

 

[davejoiner]

Anyone any good a writing a letter for me ???

 

[AmyMay]

This is a private sale I take it, and not a sale through a dealer, so the info from Trading Standards won't apply.

 

[davejoiner]

yes private sale. have spoken to the lady (also private) that i'm buying the new horse off who said unless there is something wrong with her horse she wont give me a deposit back. so should i apply the same?

 

[Cliqmo]

Does anyone else not think it was rude not to have telephoned? I would keep it for the inconvenience and cost of readvertising and having to show him off to more people

 

[davejoiner]

according to the lady husbad is ill. i has a txt the other day to say daughter couldn't come and see him as her dad was ill. i was keeping him till end of next month for free (hes a colt not an easy thing) to help them out ! i'm lucky i got the email as we are moving house next week and phone line is due to go off anyday ! but she has my mobile number

 

[Dobby]

The trading rules won't apply because you are a private seller. I wouldn't think you would have to give it back - that's the whole point of a deposit. How much did she give you? If it was quite alot i'd imagine she would fight to get it back, but i've done a quick google and the general consensus is no, you don't have to give it back. If she wasn't sure, she shouldn't have put a deposit on it - that's the whole idea.

 

[AmyMay]

Are we talking about a large amount of money here? And what bearing does it have on the horse you are buying???

 

[Dubsie]

No you do NOT have to give a deposit back at all, and there is no obligation for you to do this. A deposit is not normally refundable unless in exceptional circumstances, because that's what it is, namely a deposit to hold the horse for the buyer. It's there loss if they change their mind. In the mean time you've cancelled your adverts, turned away other potential buyers and put a deposit on another horse, there is NO obligation for you to return it whatsoever.
Personally I wouldn't return it at all, because a deposit is a binding agreement to buy and they've backed out, and I'd email back and explain that while you can empathise with their request, unfortunately you've already commited the deposit to buying another horse, and you still have the issue of selling your horse, you have to readvertise it and because you now need the money from your horse to buy the new one, it's likely you'll loose your deposit too. This could cause you huge problems as you've committed to buying the new one but may have to loose your deposit or borrow money to continue with the purchase and then have the problem of paying the upkeep of two.

However I can see you sound a nice person and may be under pressure to return it and I would say if you feel genuinely that these people have perhaps hit upon an unfortunate circumstance (say unexpected redundancy for example) where you might feel empathy then providing you don't have an issue with the deposit on the new one (say they are OK to hang on till you've sold yours, or they've another buyer lined up and can refund your deposit) you may want to consider returning part of it at a time to suit you, in which case I'm sure it'd be appreciated. You could perhaps offer to repay their deposit once you have sold the pony less any additional costs you might incur in the meantime (extra adverts, livery till sold for example ). If I had let you down as a buyer I would appreciate but not expect this at all - it's not as though the horse has failed vetting and I had a genuine reason for not going through with the purchase.

 

[davejoiner]

thanks thas ace .

Deposit was only £200 on a horse for £1500
New horse is £1650 so was more or less a straight change.

If they change there mind again and i still have the youngster i will honor the deposit which i think is fair!

 

[Fizzimyst]

No, I wouldnt expect a deposit back. I wouldnt even have the cheek to ask for it back

 

[Amys_Babies]

I would defiantly not refund the deposit. Especially if you have cancelled adverts and turned away others who have been interested, as you have now lost out. At the end of the day that deposit it down to secure you some money and a buyer for your horse.

What was their reasons for not wanting your horse no more?

 

[davejoiner]

The husband is ill and due for an op i do feel sorry for them but its leaving me in a hole.

 

[Fizzimyst]

What would have happened if this has happened a few weeks after the purchase? Would they have expected a full refund?

Life is hard I'm afraid, but the deposit both secures the horse for the new owner and ensures the seller isnt left out of pocket

xx

 

[Dubsie]

I would write back and say that you are sorry to hear of husband's illness and hope the operation is siuccessful, and you quite understand why they have had to pull out but that unfortunately you've already committed the deposit to another horse and you can't pull out of that without loosing the deposit, likewise you have to sell the horse in order to pay for the new one which has left you in an awkward position with the vendor of the new horse.

Then I'd say that you're readvertising the pony and if it sells in time, without your loosing the deposit on the other horse then in the circumstances you would consider* refunding part of the deposit less your additional costs or alternatively if they change their mind before the horse sells then you would still honour their deposit already paid against the full price

(* NB make sure you say you'd 'consider' it not just that you will refund, that way it's not binding, you're only saying you will think about it - you might get stuck with 2 horses and a loan to pay for one!)

If I were them I'd be very happy with that sort of reply, as it's more than I know I'd be entitled to .
HTH

 

[amc]

Dubsie, very eloquently put, I totally agree

 

[Fleur100]

If I take a deposit I make it clear it is non-refundable unless the horse/pony fails a vetting. I had a buyer pull out due to redundancy at the beginning of the year who had placed a substantial deposit on a horse. She did not expect her deposit back but as it was such a substantial deposit I sold the horse for her.

 

[GatefieldHorses]

A deposit in my eyes is only returnable if the horse is arranged to be vetted and it fails.
If i just changed my mind i wouldnt expect my money back coz thats my problem not the sellers.

About 4 years ago i had a horse for sale which in the advert said old tendon injury hence price. People came out, loved the horse, said they wernt worried about the leg. Left a deposit, the decided they wasnt sure about the leg a week or so later.....tough!

 

[davejoiner]

i've also paid for a 3* vetting on the new horse grr.

 

[AmyMay]

Brilliant Dubsie.

 

[supersally]

Yes I agree with Dubsie. I think that that is very fair. I run a holiday cottage and always state that deposits are non refundable (I had a lot of trouble a few years ago with people changing their minds etc) However if people are unwell or have family problems I consider a refund/or partial refund if I manage to resell the week.

 

[davejoiner]

grr just had email back stateing that its no fault of theres that they dont want the horse !!!! GRRRRR cos its deffo not mine is it.

 

[davejoiner]

is it me or is this person being abit of a numpty ? they did say when they came to see thim that they had been looking for a year and seen 20 horses. ~Thinking now of moving him just in case after all you never know.

 

[Donkeymad]

Was there any mention of whether this it was refundable or not and under what circumstances? I am thinking not so, as a deposit is normally non-refundable and is paid so that you will not sell to someone else, I feel that you are under no obligation to give it back.

To be hnest, in view of this last bit of information, it sounds as if they have just changed their mind, in which case i would definately NOT refund.