Would you let your horse go to its new home without receiving full payment?

[Silent Browser]

I have 'sold' my horse of seven years and have found a lovely home for him.

During negotiations I agreed I would be happy to take a deposit for him, £1500, which has been sent this morning by bank transfer. The remaining £2000 to be paid within three months. Could be sooner. The buyers saw him by chance when not really looking and explained they didn't have the funds.

All agreed he was going to be picked up tomorrow. They have arranged horse box hire and vetting at theirs for the following day.

They have, unerstandably, got upset about my change of heart which has happened because I have had quite a few people tell me I am being stupid and not to part with him until I have received full payment.

Even with a contract in place can I be sure I would get payment? I have seriously p*ssed off my buyers but can't help but listen to advice. I am trustworthy and honest, as I am sure they are too, my heart rules my head.

What should I do. I have said I will return the deposit in full as soon as it hits my bank account.

If I thought a contract would suffice I would still let him go as I feel bad I have changed the original verbal agreement.

Please help.

 

[Boxers]

Personally I wouldn't let him go without full payment. They will have the horse and the money, how do you really know they will pay up?

If they have the horse vetted at their place, make sure you are in attendance. They could ring you and say the vet said this or that and so they want to reduce their offer, and you will be none the wiser.

And they really shouldn't be horse shopping without the funds to pay!

 

[Copperpot]

Personally no I wouldn't. I would worry that within that time frame something may happen to the horse or they would find a reason he was unsuitable and not pay.

 

[ebonyallen]

Very simple answer here, NO I would not as lovely as they may seem you do not know these people please be carefull.

 

[BBH]

Absolutely no way.

Too much can go wrong.

 

[be positive]

The one part of your scenario that I really would not have considered is the vetting at their yard, this leaves you very vulnerable if it "fails" on something they can say they will have him anyway at the figure already paid, thereby getting him for £1500, you are not going to risk having back an "unsound" horse so accept that £1500.
I would pull out for that alone or arrange the vetting before he leaves and keep him until they can pay in full.

 

[ponypilotmum]

I would not let the horse go, and would rather lose the sale than lose the horse and the money!

I always pay balance on collection (cash). I wouldn't dream of asking to take the horse before I'd paid for it!

 

[Antw23uk]

NO CHANCE. You are asking for trouble and if he goes i see a follow up post in a few months asking what you can do.

Granted there are geniune people out there BUT sadly the bad ones ruin it for everyone. Don't take the chance.

 

[YasandCrystal]

The thing you have said that would concern me most was that they are getting the horse vetted at their premises. What if he fails?

I would not let any horse of mine go to another place or yard for a vetting - that could lead to all sorts of leverage from them over price etc. What if they then do not want the horse?

As for the full monies - well if you had something legal drawn up that would be the sensible way forward I think to address that.

I am going to use a horrific example, but I think it illustrates what can go wrong. I know of a case where a horse was sold (fully paid up) the new owner loaded it onto her lorry. The horse freaked out and went down thrashing about and severing it's suspensories on the partition. Sadly the horse was pts that day as the vet deemed tthe prognosis too poor for the horse.
The purchaser was beside herself - she had literally just paid for the horse. The horse would be uninsured by the new owner as it was within the 14 day exclusion period.
I would urge anyone selling to err on the side of caution regarding monies changing hands and insuring until the horse reaches it's new prmeises and definately ensure it is vetted at home.

 

[Crumpet]

Not a prayer, it would be too easy to do a flit and you would be none the wiser. You wouldn't go to a supermarket and ask to pay next month. I certainly wouldn't go shopping for a horse and ask for credit.

 

[CobsGalore]

I think you have done the right thing OP. You may feel awful about changing your mind now, but think how devastating it would be if something went wrong.

I too would be worried by them having the vetting done on their yard, and also that you would never get the rest if your money.

Also, we all look at horses for sale out of our price range (dreaming!), but would you really arrange to go and see it if you couldn't afford it there and then? I don't think so, sorry.

 

[onmybreak]

Nope!

 

[Fransurrey]

I'm another who wouldn't let him go as a sold horse, but are you/they open to it being a loan with view to buy? That way, he is still legally yours to take back if they don't pay up by a certain time.

 

[ponypilotmum]

would you let your car go to it's new home without full payment?

Let them take the car under your insurance, whip it round for a bit, have it checked for it's next MOT by their own mechanic before they paid you fully for it?

 

[Wheels]

100% NO!

 

[WelshD]

If they are an ideal home and your overheads are quite low I would maybe say that I would keep the horse for X weeks so they can get the funds together

A solvent, working person should be able to get their hands on £2K quite easily

 

[Polos Mum]

Absolutely not - sorry too many people out there you can't trust and you can't tell who they are until you have a problem. A contract will be expensive to enforce (small claims court order, the bailifs etc or the court decides they can pay at 50p a week as that's all they can afford etc. etc.)

Spring is on the way (I keep telling myself!) so keep looking out for a better buyer.

If the original buyers really want the horse they could borrow the £2k from a bank/ friend for such a short period.

 

[Silent Browser]

Right, I have emailed the person and said I have taken advice from someone in the know, that he cannot go anywhere unless full payment is received and he most definitely can only vetted from home. I have said once he leaves the yard I cannot take responsibility for any subsequent vetting..

She has now said I have cost her £350.00 for the booked vetting and transport.

I have said I shall give her a full refund once I have spoken to the vet myself to try to get a refund.

I explained my heart ruled my head initially but cannot ignore the majority. What do you think.

 

[YasandCrystal]

Right, I have emailed the person and said I have taken advice from someone in the know, that he cannot go anywhere unless full payment is received and he most definitely can only vetted from home. I have said once he leaves the yard I cannot take responsibility for any subsequent vetting..

She has now said I have cost her £350.00 for the booked vetting and transport.

I have said I shall give her a full refund once I have spoken to the vet myself to try to get a refund.

I explained my heart ruled my head initially but cannot ignore the majority. What do you think.

Frankly I would be amazed if the vet's charged for a cancelled vetting. The transporter may require a cancellation fee, but again I doubt wholeheartedly that this would be the whole cost. Afterall they will book them again in a few weeks time.

Was the horse moving far? If not why can the vet not vet him at your yard anyway?

 

[be positive]

There should be no charge for the cancelled vetting, or only a small amount as the vet is going to be able to do other work not many good vets are that short of work that the time cannot be filled. The same for the transport at most there will be a deposit not the full amount to pay.

 

[Wheels]

as others have said she may have to pay a small cancellation fee but shouldn't be anywhere near the full amount.

I'm pretty sure vets and transporters are often cancelled at the last minute!!!

Even so you should look it at that you have saved yourself the possibility of losing out on 2k!

 

[WelshD]

Can you invite the vet to yours if they still want to buy the horse and have it vetted

Its the standard process anyway surely? the horse should be vetted before leaving you

 

[Polos Mum]

Now I really think you've had a lucky escape!!!

No chance vets and transporters would charge in full for cancelled arrangements. Ask her for invoices from the vet and transporter - and talk to them yourself about cancellation arrangements before you agree to pay anything.

 

[Silent Browser]

Regading the lost costs, I think I may be having the wool pulled over my eyes. Unless I speak to the vet and get a resounding no then they are not getting the money.

I am starting to be put off now.

 

[Pippin79]

I most definitely wouldn't let them take the horse without full payment, I think it would be asking for trouble even if they are honest people and have good intentions, what if he goes lame or worse? Even honest people can be unreasonable if circumstances change and I don't think you can cover every eventuality with a contract. Re having to pay £350 for the vets and transport, usually this would be paid after the event so I'm really not sure I'd believe this as they should be able to explain and cancel. If I was you I'd ask which vets and transport company they were using and offer to ring up and explain, that way if they are trying to pull a fast one regarding this you'll be able to nip it in the bud. I also agree with everyone re the vetting, definitely not how it should be done and surely they would have wanted the vetting done prior to forking out £1500?! Are they local to you? If they're desperate to buy and you think they're perfect for him perhaps you could offer to keep him on a livery basis until they come up with the rest of the cash? Otherwise though I think you're better off cutting your losses as it's just not worth the risk.

 

[Elsiecat]

Going to probably get shot down for this...
but -

Yes.
Depending on buyer and circumstances.
I've walked away with a horse when the owner didn't have full payment. We lived locally so it wasn't like we were going anywhere.

 

[becca1305]

Being honest No, not unless it was to a very close friend. My trainer sold one of hers to me and I took her home after giving her less than half the agreed amount, because by the time the vetting was finished I didn't have time to arrange with the bank to get cash out and had a limit on the amount I could transfer in one go too. However she had owned the horse for 5 years and so was a sad sale for her and she said she would rather she went asap to make a clean cut (even though she still sees her regularly and rides her sometimes). However we've known each other years, I'm very local and she knows where I live (horses kept at home). I popped up the next day with the rest in cash. Would never do it except for a close friend and over a period of days not weeks. Think you made the right choice OP and echo others RE vetting & transport refunds.

 

[CBFan]

Seriously, if they can't afford the price of the horse in full, now, what else can't they afford??! well fitting tack? Vets bills? Farrier? Insurance? NO, I would not part with my horse without all funds in my bank account.

sorry. Your friends are right....

 

[Elsiecat]

Seriously, if they can't afford the price of the horse in full, now, what else can't they afford??! well fitting tack? Vets bills? Farrier? Insurance? NO, I would not part with my horse without all funds in my bank account.

sorry. Your friends are right....

Thats a bit of a daft statement!
I payed very little for all my horses (as I don't have loads of money) to ensure that I could always pay for vets, farriers etc.
I could have gone out and spent big money and left myself with very little left to cover any of the basics.

 

[MerrySherryRider]

No, I wouldn't let a horse go without full payment either. However, you made the agreement and the initial payment was sent and then you changed your mind.

Of course, the buyers are unhappy. They've booked transport, a vet and may have organised livery, made up a stable, bought feed etc, etc. The buyer unsurprisingly said,' Hey, your change of mind has cost me £350'. Its a natural reaction to such disappointment. it doesn't follow that she would subsequently demand payment for losses not incurred.

If these people are really nice and just right for your horse, it's a shame, you may have just lost the sale.
The time to change your mind was before you agreed to the terms, not after.

Hopefully, the people like your horse enough to continue with the purchase, after all, they have been true to their side of the deal so far.