Selling horses- deposit?

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frostie652

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Ive got someone who sounds quite promising and seems pretty keen coming to see chippie in the next couple of days, I understand they may want to view afew times before commiting to buying but..

if someone says they definately want the horse is it reasonable to ask for a deposit of £100-£200 just to make sure that you donw withdraw adverts and then not sell the horse?

a couple of my friends have been in this situation and then never heard from the buyer again.

So would you ask/pre-warn the viewers that if they decide they want to buy then a deposit will be required to 'reserve' the horse/pony?

thanks
 
Yes, get a deposit. If they are serious they will bring one with them (well I would anyway). If they haven't brought cash then direct them to your nearest cashpoint. Don't take a cheque - they'll cancel it if they don't want the horse.

You should give them a receipt for the money - and make a note of the agreed purchase price of the horse on it.
 
thank you, should I send them a text stating that if they wish to reserve him a deposit will be required or just tell them when thye arrive?
 
A deposit is not generally discussed until one has viewed the horse and decided to purchase really. That's the only time I have brought up deposits etc.
 
Best thing to do is when they view and make the right noises about liking him etc, mention politely that you have other viewing arranged, and if they want to buy subject to vetting etc then you will require a deposit, and will let the other parties know he is now sold. If they want him they'll secure with a deposit - if they dilly dally they are time wasters!
 
I'd say it sort of depends on the situation, how much interest you have had in the horse and how quick the purchases appear to be moving in terms of vetting etc.

I'm purchasing at the moment and haven't offered or been requested to leave a deposit. However the vetting is taking place within 4 days of agreed sale.

One I sold this summer I didn't ask or take a deposit as again the purchasers were very quick and straightforward to deal with and I didn't have a queue for the horse.

The previous one I sold I did take a deposit, as I had 4 lined up to view within 48 hours of the advert and my gut feeling was that the person I had accepted an offer from was a 'ditherer'. She dropped out a week later and I kept the £300 deposit.

Whatever you do keep the advert live and store phone numbers from all enquiries until you have received full payment and the horse has left your property. I personally wouldn't discuss deposits at all until you have been made a firm offer.
 
i would ask for a non returnable deposit, and keep him advertised (incase they change there minds) then if they decide he isnt right for them after all he will still be up for sale... anyone that calls after they have given you a deposit, you just tell them a deposit has been taken but he has not been sold as yet, or a deposit has been taken but if they leave you there number you could give them a call if the sale falls through. thats what i did last time i sold one of mine xx i asked for 20% of what iwas selling him for so it worked out at £250 deposit after negotiating on price.
also never let them take your horse until they have paid up fully. xx
 
frostie652 said:
thank you, should I send them a text stating that if they wish to reserve him a deposit will be required or just tell them when thye arrive?
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tell them when they arrive. if they have a convo with you about his price say to them they could give you a deposit. dont do it through text. they may say they want to buy him out right on "saturday" or whatever, make it clear to them that he will still be for sale until that day.
 
Whe I sold my gelding last Easter the lady rode him and hacked him out. She told me she wanted him and insisted on giving me a deposit to secure him. I have to be honest I hadn't even given it any thought! She gave me £500 and paid the balance in cash when she picked him up a week later. His full asking price was £2750. She had even written out two copies of a receipt including the horses details and all issues we had discussed about his character, nature and what was included in the sale. We both signed them and it was the easiest and smoothest sale I have had. It is very reassuring when a purchaser or a seller knows what they are doing. I hope this is helpful.xx
 
I would certainly take at least £100 deposit (preferably cash) to "hold" the horse for a certain period and would specify the deposit amout and date until which the horse would be held on a receipt.

I wouldn't withdraw adverts though, I simply say to anyone else that rings that someone else is interested and left a desposit for you to hold the horse for 2 weeks whilst they make a decision, come back for another viewing, etc. I would offer to take their phone number so that I could ring them back if the person who left the deposit didn't buy. If someone else still wanted to come view the horse knowing that someone else has left a deposit, then I'd let them.

A horse is not sold until you have all the money in your hand, so don't act like it is and withdraw adverts or prevent anyone else coming to view. But just be honest and let anyone else enquiring know the situation. If they are really interested in the horse then they might still want to come view it, particularly if it is local for them and then if the first person bails out, you'll have a second buyer lined up already.

I think any serious buyer would expect to pay a deposit for you to hold the horse - when I sold one of mine recently the buyer turned up with £100 cash even though I'd not mentioned a deposit earlier.
 
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Blimey!

If I was told that I needed to leave an unreturnable deposit on the first viewing I probably wouldn't go and see it.

I was given 24 hours to make my mind up. The horse was still up for sale throughout this time and the seller told other potential buyers she would call them back to arrange a viewing should I not want him.

We also took the horse away without fully paying for it :D
 
wait until/if they make an offer before bringing up the subject of deposits :)

I always ask for 10% either in cash or bank transfer if done over the phone; balance to to paid in cash/bank transfer before collection.
 
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