Taken deposit - where do I stand?

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James1986

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So Im selling my boy for various reasons. One, he's too much horse for me so Im doing the sensible thing. Two, we need to save for a house deposit.

He is a somewhat crazy tb who I have fed up and brought back to fitness and he is now too much for me. Throwing the odd buck and bronk, as well as being quite spooky. Typically tb. But he's done the lot in his time, affiliated everything.

Ive found a buyer who is lovely and she has put a deposit on him. Niggling at the back of my mind is that he behaved impecably when she tried him. I have told her he is typically tb but I dont know if it went in. He's being vetted next week. She wants him mostly for hacking but a bit of local competing etc.

However, my yard owner returned from holiday this week, having been away throughout the sale (very quick process!). She didnt know he was up for sale and has now also offered to buy him. She knows exactly how he behaves, but also have huge amounts of experience. She would want to take him out competing etc etc.

Money is not my issue here, my yard owner has not offered me more, but its the fact that he's happy and settled where he is. He would have a wealth of experinece looking after him and bringing him on.
My heart says, sell him to the yard owner, but my head says ive already taken a deposit. I cant find anything online about the legal ramifications of withdrawing a sale and returning the deposit. I also know how terrible I would feel if it happened to me.
But should I do what I feel is best for the horse, or continue as I was with the deposit? Please dont take me apart for asking this, I want honest opinions but Im not a horrible terrible seller, im thinking of the best for my horse and just want some advice. Has anyone else had this situation arise?
I was happy with my decision until this offer was put on the table! Doh!
 
Maybe not entirely fair but I would do what was best for the horse and if you feel that the person on your yard is best I would go with them. I would return the deposit face to face and be honest and polite about why the horse is being sold to another person. Hopefully they understand your just doing what you feel is best.
 
I can totally see where you are coming from, and agree with you totally. I would either be totally honest with the buyer and say that you would like him to go to your friend, or else tell a white lie - say you can't bear to part with him or something... Legally I don't know where you stand.
 
No legal implication so long as deposit is returned. People change their minds about selling all the time. Lady who put deposit down will probably be quite pissed off but the naglett comes first so I would just be honest about it and maybe chuck £50 on top as a gesture of good will and to cover her wasted time and petrol.
 
flying solo said:
Maybe not entirely fair but I would do what was best for the horse and if you feel that the person on your yard is best I would go with them. I would return the deposit face to face and be honest and polite about why the horse is being sold to another person. Hopefully they understand your just doing what you feel is best.
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Do this, face to face. If I were the buyer I would be upset about losing the horse, but I would understand your situation.
 
flying solo said:
Maybe not entirely fair but I would do what was best for the horse and if you feel that the person on your yard is best I would go with them. I would return the deposit face to face and be honest and polite about why the horse is being sold to another person. Hopefully they understand your just doing what you feel is best.
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totally agree!
 
Honey08 said:
I can totally see where you are coming from, and agree with you totally. I would either be totally honest with the buyer and say that you would like him to go to your friend, or else tell a white lie - say you can't bear to part with him or something... Legally I don't know where you stand.
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I agree, and think I would be tempted by the white lie option! Otherwise you might have to explain to the current buyer that you don't really think she can handle the horse and no one wants to hear that even if it is true...
 
I would sell to the YO in your position too.

BUT, I would get payment from YO before giving deposit back to initial buyer, just in case your YO drops out for any reason and then you are left with no buyer at all.
 
millitiger said:
I would sell to the YO in your position too.

BUT, I would get payment from YO before giving deposit back to initial buyer, just in case your YO drops out for any reason and then you are left with no buyer at all.
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This - there's often lot's of people who are suddenly 'interested' after the horse has been sold..
 
You have entered into a legally binding contract which the purchaser can insist is completed and action could I think be taken against you. I think your best bet is to explain your concerns offer to refund deposit with a little extra for their trouble. If they insist on buying you could be in trouble.
 
Surreydeb said:
You have entered into a legally binding contract which the purchaser can insist is completed and action could I think be taken against you. I think your best bet is to explain your concerns offer to refund deposit with a little extra for their trouble. If they insist on buying you could be in trouble.
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I don't see anyone pursuing compensation.
If it were me I would talk to her by phone, and say that you feel the horse will be too much for her, that she can be quite a handful, needs a lot of work to keep her happy, has to be stabled in winter, and so on. See how that goes.
 
Surreydeb said:
You have entered into a legally binding contract which the purchaser can insist is completed and action could I think be taken against you. I think your best bet is to explain your concerns offer to refund deposit with a little extra for their trouble. If they insist on buying you could be in trouble.
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No you haven't
 
sell to YO but get full payment from them first. Refund deposit to current buyer and say that the new buyer is someone who knows the horse well and they were away when horse was put on sale. Say that you never thought they'd be interested but you're pleased they are or something along those lines so you're not putting your current buyer in as unsuitable for the horse - just that you know the other buyer better.
 
No legally binding contract (I'm a lawyer;) ) I agree-get money off YO,return deposit to other buyer(with profuse apologies&some sort of sweetener,£50 extra or whatever,as suggested) and other buyer will get over it-these things happen. Just sort it quick,so as not to give her more time to get excited,arrange vetting etc.
 
Maybe your horse went well for the potential buyer because they're well suited?

It's not fair to waste a buyers time like that, she's got her hopes up and probably bought a lot of stuff and is excited. Who's to say your horse won't be as happy or happier with her? Tell her that if things don't work out, your YO would like to buy him but don't whip the horse from under her before she's even got him home. Your word should be your bond.
 
Not for nothing but you explained away bucking and spooking as typical TB behaviour. So you didn't actually say can buck and spook and he's too much horse for me. No crime in that by the way, but from your post I'm thinking you're a bit worried to who you sold to more than anything else. Fine fair enough horse is settled in his yard. I get that but it is more than that which isn't sitting right with you. As stated YO knows his quirks. This is why it's best to leave stereotypes out of description and describe each horse individually regardless of breed.

At any right, everyone else has given great advice on how to get out of this situation gracefully.

Terri
 
Clippy said:
Maybe your horse went well for the potential buyer because they're well suited?

It's not fair to waste a buyers time like that, she's got her hopes up and probably bought a lot of stuff and is excited. Who's to say your horse won't be as happy or happier with her? Tell her that if things don't work out, your YO would like to buy him but don't whip the horse from under her before she's even got him home. Your word should be your bond.
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I must agree with this.

OP, How would your feel If you went to view a horse and all went well and made the often difficult decision that this horse is the one, then willing to part with your money after allot of looking at others that didn't quite fit the bill, leave a deposit, drive off thinking you have bought the horse of your dreams to be told that the seller has changed their minds...

This wouldn't have even been a consideration if the buyer had turned up with a horsebox on the same day and taken him there and then. But now you've had time to think about it the buyer is no longer good enough and couldn't possibly give him a good home, be able to ride him because of his quirks etc

There are many posts on here about time wasting buyers but this is a prime example of a time wasting seller.
 
Spit That Out said:
I must agree with this.

OP, How would your feel If you went to view a horse and all went well and made the often difficult decision that this horse is the one, then willing to part with your money after allot of looking at others that didn't quite fit the bill, leave a deposit, drive off thinking you have bought the horse of your dreams to be told that the seller has changed their minds...

This wouldn't have even been a consideration if the buyer had turned up with a horsebox on the same day and taken him there and then. But now you've had time to think about it the buyer is no longer good enough and couldn't possibly give him a good home, be able to ride him because of his quirks etc

There are many posts on here about time wasting buyers but this is a prime example of a time wasting seller.
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this^^^

Years ago we put a deposit on a colt, he was 50 miles away and went to see him on 3 diffrent occassions to make sure he was right. Put a deposit of half his value and agreed to pay the rest in pick up when weaned. We received deposit back and she said she had changed her mind about selling, I was devesatated.
I heard on the grapevine that he was sold and the seller got twice what she had him up for sale for.
If you were concerned about match why on earth would you take a deposit in the first place I agree about the timewasting
 
If the seller was pulling out you'd be calling them a timewaster.

Whatever you do, do it quickly because vettings cost a lot of money and some vets will still charge if adequate notice isn't given to cancel.

So really, if your YO doesn't come up with cash today, what are you going to do?
You hear so often people say oh I'd have bought them after a sale with someone eles is agreed, but very few could actually follow through.
 
Just be honest with the other buyer. If she really insists then you should go through with it but if you tell her what the situation is it should be ok!
 
Oh and what if they've bought rugs or tack etc?

You were quite happy to sell to them prior to your YO returning, suitability wasn't bothering you then!

Actually the more I think about this the more appalled I am, it's just wrong and buyers get slated all the time for behaving this way.
 
I wouldn't expect people to buy stuff for a horse that hadnt yet passed a vetting.

I know it may not be fair on the person but I would do what was in the horses best interests every time. People's feelings get hurt and they get over it, horses get passed from pillar to post far to easily these days so that would be my priority.
 
OP, i'd say go with your gut instinct.

I was in this situation a few years ago when selling my son's jumping pony. I went ahead with the sale as i liked the buyers & they 'talked the talk' about help & lessons for their son, so although i had reservations, i bowed to their pressure & let them buy the mare.

Well, two days later i get a call saying that during a pc rally, the pony had cantered round & round (thankfully an indoor school), only stopping when the instructor had leapt in front of it & that instructor thought that pony was too much for the child! I've got video & pictures of my then, 10 yr old daughter jumping a 3ft course on this pony in a headcollar & i knew that although she was a cracking pony, she just wasn't suited to this child & i should have stood firm & stuck to my guns about them not having her.

Of course, we said that they could bring her straight back, for which they were extremely grateful & she then went to a local friend who's son has had a fantastic time with her on all the teams. We were lucky that no harm was done to pony or child & that i was able & willing to have the pony back & return the considerable amount of money that they had paid for her.

I'd have a chat with the buyer about your concerns. Good luck.
 
Get YO to pay full amount

Then return the deposit to the first buyer.

Plus if you feel like it petrol expenses to cover their 'time'.

Not required by law but might be the 'nice' thing to do.

Good luck
 
Welshie Squisher said:
If the seller was pulling out you'd be calling them a timewaster.

Whatever you do, do it quickly because vettings cost a lot of money and some vets will still charge if adequate notice isn't given to cancel.

So really, if your YO doesn't come up with cash today, what are you going to do?
You hear so often people say oh I'd have bought them after a sale with someone eles is agreed, but very few could actually follow through.
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agree with this, having been on the side of getting my hopes and purchasing new stuf for new horse only then to turn up to pick it up and seller has changed their mind. Really upsetting and a waste of time and diesel costs etc. I agree with the person that said continue with sale and if she doesnt get on then your yo can purchase, I feel its a bit mean not even giving the poor lady a chance when she has decided she wants your horse and you agreed!
 
They might be p-eed off with you but I would say you are within your right to return the deposit and sell to the YO. Isn't a deposit there to protect the seller anyway so that it deters a buyer from backing out or saying they'll buy then disappearing?

I would say best to go with your gut but make sure you explain to the first buyer why you have made that decision.

If you do sell to the first buyer, would the YO be happy to purchase if the new owner doesn't get on with him?
 
When you mentioned that the horse is a 'typical TB' were you clear about what you meant from this statement? It's rather a vague statement to make...i.e. did you bullet point his vices? Bucking and bronking can be quite major issues and ones that even the most competent rider can be put off by but if you didn't mention these then you are at fault. What is a 'typical TB'? By the way? I have been around many millions of them but they have all been different and not many of them buck or, more worryingly bronk but they have all needed a job to do.

I would at least give the original buyer the opportunity to change her mind as it really isn't fair to mess her around. I also like the idea of giving y/o first refusal should it not work out with Original buyer and letting original buyer know this so she doesn't feel stuck with loony horse she has been 'miss sold' when she gets him home.
 
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