# Considering payment plan on a horse I'm selling...



## LittleBayMare (Jun 2, 2014)

So, I have my 8-year-old gelding up for sale. A nice lady contacted me this evening. We chatted about her needs and wants. We agreed that they sounded like a good match. She is coming to see the horse Saturday evening. She asked permission to bring another horsey friend along for an extra set of eyes. I encouraged her to do so. I have the horse priced at $6,000 with a note that there may be some room for negotiation to the right home. When she asked what my criteria for the right home was, I simply told her that I need to see the two of them together and how they interact with one another on the ground, in the saddle, etc to decide that they are a good match before I decide how much I am willing to negotiate. It may also be affected with how much other serious interest there is. The ad has been up for five days (since late evening the 17th). I am looking for a fairly quick sale, though I would like as close to the asking price as possible while still making sure he goes to a good home. I know, I know, I'm impatient and picky. 

Here's the kicker, the big point she wants up for negotiation is a payment plan. She cannot afford the entire price until she gets her other horse sold. Yes, I know the story behind the other horse, it sounds perfectly legit so far, but I don't feel like I have the right to post it publicly. I told her I _might_ consider it _if_ they are a good match. I did, however, clarify, that _if_ I were to agree to this, we would have a detailed written contract and the horse would not under any circumstances be leaving my custody until it was paid in full. 

I don't know if I'm even going through with this yet, but I want some objective opinions. What are some pitfalls I need to consider? Has anyone successfully done one of these? Is it a bad idea to let her come and ride the horse while it is being paid off? In these kinds of situations, who is generally responsible for vet care and such? 

He is on 24/7 pasture right now so his feed bill is literally $0. He does get loose salt and minerals, but it is in a tub shared with two other horses, so the cost is impossible to tell for sure and probably negligible anyway. They have a shelter that they never poo in and they water themselves from the stream, so his upkeep is very near zero there too. He has his shots, coggins, his teeth have been checked, he's been wormed. The only thing would be we do our own barefoot hoof trimming, so would we charge for our time if the expenses would be on her?  

I know I need specific "if x party fails to do y, z action will taken" and "$x is due on y date of every month", so on and so forth. Anything else I am not considering?


----------



## boots (Jan 16, 2012)

She can make payments. You keep the horse until paid in full. You have a contract that states something along the lines of: "If purchaser backs out of the purchase, "x" amount of dollars will be deducted from the amount paid for each week seller held the horse."

Each week. Not each month. Then if purchaser changes her mind 7 weeks out, you aren't arguing whether you get to keep a month's worth, or two months worth.

If she's serious she'll get the money up front. You might get paid to keep your own horse. Or her eyes are bigger than her bank account and she needs to rethink her needs.


----------



## blue eyed pony (Jun 20, 2011)

I've done two payment plans on horses as the buyer. One came to me on trial before any money was ever handed over and it was a very long-term payment plan which out of the goodness of his previous owner's heart allowed me to have a horse that I could not otherwise afford, but very much needed. The other stayed on the seller's property until the day I was to hand over the last $200, and then the seller delivered her and I made the last payment in cash.

Both worked beautifully. We still have the foal 4 years on (I gave her to mum, she's now nearly 5) and I owned the other horse until the day he passed away near on 18 months ago.

HOWEVER, honest buyers are very rare. The foal's previous owner was clever to state she had to stay until the last of the money was paid. Many many buyers will pay the deposit, pick the horse up, and fail to pay another cent, and you have no legal recourse for that because technically money has exchanged hands for the purchase of the animal. I wasn't charged for feed or board or any care though it was well within the seller's rights to do so.

The schoolmaster I bought, that seller took an ENORMOUS risk with me. Not only did no money change hands at all before he came to me (sight unseen!), I had just one reference when it came to financial matters and that was for a saddle purchase. She and I are still good friends and her selling Monty to me on the terms she did was the only way I would ever have been able to afford him. I had met her once prior, when she was in the area and stopped by to give me a (sorely needed) riding lesson. She got to see the property Monty would therefore be kept on, and the condition our other horses were kept in, but even then it was a risk for her to send him to me because she didn't know me from a bar of soap. Yes my horses are kept well but she had no idea whether I was an honest person or not.


----------



## churumbeque (Dec 20, 2009)

boots said:


> She can make payments. You keep the horse until paid in full. You have a contract that states something along the lines of: "If purchaser backs out of the purchase, "x" amount of dollars will be deducted from the amount paid for each week seller held the horse."
> 
> Each week. Not each month. Then if purchaser changes her mind 7 weeks out, you aren't arguing whether you get to keep a month's worth, or two months worth.
> 
> If she's serious she'll get the money up front. You might get paid to keep your own horse. Or her eyes are bigger than her bank account and she needs to rethink her needs.


first of all I would keep all money if she backed out. She would be responsible for all care and bills and should have insurance. So you should be charging her board also. Say 100.00 a month depending on your area. Obviously more if haying in winter. I would also want a good chunk down Say half at least.


----------



## Textan49 (Feb 13, 2015)

I tend to not trust anyone I don't know, however a good sound contract should cover anything that might go wrong. This may be the perfect home for your horse and passing it up could mean a long wait before another comes along. The worst case scenario would be that she ends up unable to make the payments in which case you still have the horse. As for the amount of money that is kept or returned should that happen. . . . I think you would need to decide on a percentage. You are still maintaining the horse even if it is not costing you much and there would also be the inconvenience of having to list him again and the market may not be the same at that time. While I think I would be reluctant to be the buyer in a situation like this, I have to question why she brought a payment plan up before she even saw the horse?


----------



## blue eyed pony (Jun 20, 2011)

Textan from a buyer's perspective, there's no point going to see a horse you know you don't have the money upfront for (and 6 grand is a LOT of money) if the seller won't consider a payment plan.

However that being said it's usually the last question I will ask, if it isn't mentioned in the ad. (Some sellers here will mention payment plans considered or no payment plans)


----------



## Saddlebag (Jan 17, 2011)

Do not allow the horse off property unless paid in full. Period. Contracts that seem iron clad aren't worth the paper they are written on, especially if the horse is moved out of state. It's just not worth the grief and extra expense of trying to get your money or the horse back. Arrangements like this work out in the rarest of cases. There are banks that are in the business of loaning money. She can try them. No personal cheques. With a cell phone the cheque can be cancelled before the buyer is out of the driveway.


----------



## LittleBayMare (Jun 2, 2014)

boots said:


> She can make payments. You keep the horse until paid in full. You have a contract that states something along the lines of: "If purchaser backs out of the purchase, "x" amount of dollars will be deducted from the amount paid for each week seller held the horse."
> 
> Each week. Not each month. Then if purchaser changes her mind 7 weeks out, you aren't arguing whether you get to keep a month's worth, or two months worth.
> 
> If she's serious she'll get the money up front. You might get paid to keep your own horse. *Or her eyes are bigger than her bank account and she needs to rethink her needs.*


This is what I am scared of. I have not committed to the deal yet though. It _sounds_ like a good match in most areas, except for money and one other small thing that may or may not be an issue (again, not really sure I have a right to disclose on a public forum, but it may turn out to be nothing...or a complete deal breaker :neutral



blue eyed pony said:


> I've done two payment plans on horses as the buyer. One came to me on trial before any money was ever handed over and it was a very long-term payment plan which out of the goodness of his previous owner's heart allowed me to have a horse that I could not otherwise afford, but very much needed. The other stayed on the seller's property until the day I was to hand over the last $200, and then the seller delivered her and I made the last payment in cash.
> 
> Both worked beautifully. We still have the foal 4 years on (I gave her to mum, she's now nearly 5) and I owned the other horse until the day he passed away near on 18 months ago.
> 
> ...


You wouldn't happen to be in need of another horse would you? :lol: Lol. Jk. 

On a more serious note, if I would enter into this deal, is it appropriate to ask for financial references? How would I go about doing such a thing without offending?

A problem I may run into here is, I am only 20, but I do look younger. :icon_rolleyes: This lady, while she seems quite nice, is old enough to have children my age. I know from experience that she probably going to look at me like a kid, so getting things like references will be harder in this situation.



churumbeque said:


> first of all I would keep all money if she backed out. She would be responsible for all care and bills and should have insurance. So you should be charging her board also. Say 100.00 a month depending on your area. Obviously more if haying in winter. I would also want a good chunk down Say half at least.


I like how you think. I am definitely not going for less than 50% down at this point. It's been less than a week. I'm not quite that desperate yet. 



Textan49 said:


> I tend to not trust anyone I don't know, however a good sound contract should cover anything that might go wrong. This may be the perfect home for your horse and passing it up could mean a long wait before another comes along. The worst case scenario would be that she ends up unable to make the payments in which case you still have the horse. As for the amount of money that is kept or returned should that happen. . . . I think you would need to decide on a percentage. You are still maintaining the horse even if it is not costing you much and there would also be the inconvenience of having to list him again and the market may not be the same at that time. While I think I would be reluctant to be the buyer in a situation like this, *I have to question why she brought a payment plan up before she even saw the horse?*


I think (and maybe I am just being too optimistic) she brought it up because she will have a decent drive to come see him and she didn't want to waist either of our time if a payment plan wasn't even an option. I did have a really detailed ad, video, and pictures so she does have lots of information about him already. _If_ she was completely honest about her wants, needs, etc, it could very well be a match made in heaven. _If_ she was honest about the horse she is trying to sell to get the rest of the money, I don't foresee too much of a problem. But, we shall see. 



Saddlebag said:


> Do not allow the horse off property unless paid in full. Period. Contracts that seem iron clad aren't worth the paper they are written on, especially if the horse is moved out of state. It's just not worth the grief and extra expense of trying to get your money or the horse back. Arrangements like this work out in the rarest of cases. There are banks that are in the business of loaning money. She can try them. No personal cheques. With a cell phone the cheque can be cancelled before the buyer is out of the driveway.


Exactly. I am studying business in college and just finished up a business law course. We did several weeks of contract law. *shudder* I don't want to end up in one of those nasty situations. 



blue eyed pony said:


> Textan from a buyer's perspective, there's no point going to see a horse you know you don't have the money upfront for (and 6 grand is a LOT of money) if the seller won't consider a payment plan.
> 
> However that being said it's usually the last question I will ask, if it isn't mentioned in the ad. (Some sellers here will mention payment plans considered or no payment plans)


I didn't mention payment plans in the ad because I prefer to avoid them, but I do understand that it is a lot of money. I would honestly prefer to come down a little in price than go on payment plan, but even then, she need to sell her other horse first. 

She seems like a very nice lady. I am kind of hoping someone else comes along with a little bigger checkbook and gives me another option. But it's only been five days. So we shall see. Thank you all for your help. I will try to keep you updated as things progress.


----------



## LittleBayMare (Jun 2, 2014)

Saddlebag said:


> Do not allow the horse off property unless paid in full. Period. Contracts that seem iron clad aren't worth the paper they are written on, especially if the horse is moved out of state. It's just not worth the grief and extra expense of trying to get your money or the horse back. Arrangements like this work out in the rarest of cases. There are banks that are in the business of loaning money. She can try them. No personal cheques. With a cell phone the cheque can be cancelled before the buyer is out of the driveway.


What do you request instead of personal check? cash? That's a lot of cash!


----------



## boots (Jan 16, 2012)

LittleBayMare said:


> What do you request instead of personal check? cash? That's a lot of cash!


Cashier's check. Money Order.

That's not too much cash either. I've carried ten times that to do a cow or horse deal.


----------



## natisha (Jan 11, 2011)

LittleBayMare said:


> What do you request instead of personal check? cash? That's a lot of cash!


If she has the money for the check to clear then she can go to her bank & get cash.
I wouldn't do the deal but if I did I would keep the horse on the market for 30 days then if he didn't sell offer the payment plan with the horse being kept at my place & her paying board with a deadline. If she doesn't pay in full by the deadline at least you got something. Don't take any horse payment money until she has it all at once.

One other small thing?


----------



## kelseyannxo (Jun 25, 2015)

I'd say do a lease-to-own plan. Take her offer on making month to month payments to pay for the horse in full over however long it takes her. Let her come and ride your gelding on your property. This way, you're getting to see first hand if they really ARE a good match, not once - not twice - but over and over again. Make sure she can handle him and he can tolerate her. However, IF she backs out, (1 month in, 4 months in, etc.,) call the deal quits. Any money she has paid towards him will be considered a month to month lease, and just that and only that. 

If she follows through and pays the $6,000 in total over x amount of time, let that be considered your full sale and release of your horse. This way, you both win, nobody loses money, nobody gets their feelings hurt, and worse comes to worse, you put your gelding up for sale again.

I'm not sure I support the "deadline" idea. If she doesn't have the money, she doesn't have it. Trust your gut. If she seems trustworthy and like she will follow through, give her a monthly fee she NEEDS to pay, but don't give her an unrealistic deadline unless she has the income. This requires some slightly invasive discussion on her financial stability/where she's at. 

It is up to you if you want to include maintenance costs in her monthly payments. You could, for example, charge $200/300 a month for his "lease", and continue on with his care costs yourself. (More affordable for her, most likely.) Or, you could up the monthly payments a bit, say to $400/$450 a month, and use that extra money you receive from her to go forward and pay his vet/farrier costs.

I can't imagine you're not familiar with this concept! You sound very knowledgable. Just figured I would throw it out there in case you've never heard of it/considered it! Good luck! 
_Posted via Mobile Device_


----------



## blue eyed pony (Jun 20, 2011)

LittleBayMare - lol I actually will be in the market for a horse soon, but I'm in Australia and definitely not in the market to import! XD

In all seriousness though she may be a very lovely lady and an honest buyer, but it's not worth taking the risk of letting the horse off your property. If you plan to do this with the horse remaining on your property then it can work (and generally speaking it will - many of the bigger breeders in my state do payment plans on a regular basis)


----------



## Saskia (Aug 26, 2009)

For the deposit accept cash or bank cheque. It's not too much cash to carry around. Write a receipt up for each payment.

Honestly, I don't agree with payment plans. As a buyer I have never asked for one and never would.

If someone really wants the horse they can go to the bank and get out a personal loan or something - there are many, many businesses out there whose sole purpose it is to lend money. Buyers should go to them. I would allow a payment plan if i was desperate enough to sell the horse.

However if you do a payment plan don't negotiate on the price of the horse. Bargaining is for cash buyers. 

Good luck!

And if you're not see or feel pressured it's certainly okay for you to say you need time to think about it.


----------



## tinaev (Dec 2, 2012)

I don't think I'd ever want to get involved in a payment plan situation. It just seems like too much can go wrong and I don't want to end up on an episode of Judge Judy. 

If I were ever to consider it I would require 50% of the purchase price up front and them payments made monthly. A written contract detailing the payment amounts and due date would need to be signed. Also a date would need to be chosen for the final payment and transfer of ownership to be done. If the horse is not picked up on this date board of $xxx is due weekly. 

I wouldn't necessarily worry about charging her for the trimming while he's still there as you'd be doing it anyway. If there's a situation where a vet or other feed is needed it needs to be spelled out in the contract who is responsible for those expenses.

Honestly the whole situation gives me anxiety just thinking about it. I'd be inclined to offer a steep discount if she pays in full to encourage the sale to just take place and be done.


----------



## LittleBayMare (Jun 2, 2014)

Honestly, the more time I have to think about it, the more nervous I'm getting. She _sounds_ trustworthy but...maybe I'm paranoid. But he has only been up for less than a week. If she is a good match and she insists on going with a payment plan and there are still no more buyers calling by Saturday I see it as I have two options, depending how I decide to approach the situation.

1.) I can let her make an offer as far as payment plans (50% down, monthly payments, etc) and simply ask for some time to think about it. Then hope something better comes along.

2.) I can tell her that I want him to be up for at least 30 days before I consider a payment plan. I can explain that this will give her the opportunity to sell her other horse and get her finances in order, which may lead to not needing a payment plan at all (if she is being honest). I can take her contact information and tell her that if he is still available after 30 days, I will give her a call and maybe we can revisit the situation, unless she comes to me with a cash offer before then. 

The more I think about it, the more I am leaning towards option two, nice and blunt, to the point. Unless, of course, I get some more interest before Saturday, at which point I will tell her that I have to consider potential cash offers before payment plans, sorry, it's not personal, just business.


----------



## LittleBayMare (Jun 2, 2014)

kelseyannxo said:


> I'd say do a lease-to-own plan. Take her offer on making month to month payments to pay for the horse in full over however long it takes her. Let her come and ride your gelding on your property. This way, you're getting to see first hand if they really ARE a good match, not once - not twice - but over and over again. Make sure she can handle him and he can tolerate her. However, IF she backs out, (1 month in, 4 months in, etc.,) call the deal quits. Any money she has paid towards him will be considered a month to month lease, and just that and only that.
> 
> If she follows through and pays the $6,000 in total over x amount of time, let that be considered your full sale and release of your horse. This way, you both win, nobody loses money, nobody gets their feelings hurt, and worse comes to worse, you put your gelding up for sale again.
> 
> ...


Lease to own might be a good idea, except I would never do a lease off property and I keep him at my parents farm and they don't have insurance for boarding. I don't want to put them at risk if something were to go wrong. 

Thank you for your confidence in me!  However, I've only ever sold one horse and it was a case of, the first person that came out was the perfect fit and offered cash. I've never leased a horse (from either side of the deal) and never boarded. Most of my knowledge in this situation is knowledge in theory, not knowledge from experience. :lol:


----------



## Textan49 (Feb 13, 2015)

LittleBayMare said:


> Honestly, the more time I have to think about it, the more nervous I'm getting. She _sounds_ trustworthy but...maybe I'm paranoid. But he has only been up for less than a week. If she is a good match and she insists on going with a payment plan and there are still no more buyers calling by Saturday I see it as I have two options, depending how I decide to approach the situation.
> 
> 1.) I can let her make an offer as far as payment plans (50% down, monthly payments, etc) and simply ask for some time to think about it. Then hope something better comes along.
> 
> ...


 Since an on property lease to own won't work, I agree with your option #2. 

I am thinking in your behalf but putting myself in a buyers position. I personally would rather take out a loan from a bank unless it was very short term of so much down and the rest in a month. If the lady is financially stable she should be able to get a loan and if not how will she make payments if her horse doesn't sell quickly. Not that I am looking to buy a horse but I could also use Paypal and have it go on my credit card. There are other ways besides expecting a payment plan


----------



## natisha (Jan 11, 2011)

What if her horse doesn't sell? 
Of course she sounds nice, she wants something from you. She shouldn't be looking at a $6000 horse if she doesn't have $6000. You have no obligation to her.
Instead of waiting for her you'd have better luck taking your horse to whatever event makes him worth $6000 & putting a for sale sign on him.


----------



## DuckDodgers (May 28, 2013)

LittleBayMare said:


> Honestly, the more time I have to think about it, the more nervous I'm getting. She _sounds_ trustworthy but...maybe I'm paranoid. But he has only been up for less than a week. If she is a good match and she insists on going with a payment plan and there are still no more buyers calling by Saturday I see it as I have two options, depending how I decide to approach the situation.
> 
> 1.) I can let her make an offer as far as payment plans (50% down, monthly payments, etc) and simply ask for some time to think about it. Then hope something better comes along.
> 
> ...


If you're at all nervous about the situation then back out. I would personally give it until the end of the month before entertaining any potential payment plans. This gives you over a week to see if you have any interest. If you don't have any serious bites at that point then perhaps consider going through with the payment plan. Were I to do a payment plan I would get everything down in writing, require 50% down ($3000) and then you decide what the monthly payment should be/how long it should take for her to pay it of. For example, if you require $1000 each month then the horse will be paid off in 3 months. If you require $500/month then it'll take 6 months. I'd also require a little for upkeep of the horse/trimming/etc. Nothing huge since the horse isn't costing much to maintain, but something. 

I would like the idea of doing a "lease to own" situation if you decided on payment plans, but not if your parents' insurance doesn't allow for it. Instead I would simply hold on to the horse, on your own property of course!! Do NOT let the horse leave the property until paid in full and the papers signed over. If you're worried about someone trying to take advantage of you because of your age then perhaps have your parents around for the business side of things. It shouldn't be necessary, but I can attest from personal experience that adults often try to take advantage of younger people, especially those that look younger than they are. 

All that said, I like your second idea better. Quick and to the point. Leave the horse on the market for a full month and see how things are going. If no serious inquiries come up during that point then you can revisit the payment plan idea. Explain that you would prefer to have a cash in hand sale (like you said, nothing personal, just business) so you'd like to wait a month to see if there is any interest. Say that if at any point during the 30 days she sells her horse and comes up with the money then you will sell the horse to her for $XXXX- whatever your discounted value for her would be. Accept nothing less than that from her for the horse. Tell her that you'll call her at the end of the 30 day period if the horse is still available, and I'd give her the courtesy of a phone call if you do sell the horse during that period. This way she isn't trying to get the money together for this horse, calls you, and finds out he was sold two weeks ago. Don't be afraid to back off of the payment plan idea after the 30 day period if you don't want to do it. You are under no obligation to follow through with working out a payment plan.

Basically tell her "I'll sell you the horse for $5000 (or whatever) now or at any point during the next 30 days. If at the end of 30 days I have not received any serious interest in the horse we will revisit the idea of payment plans to the full asking price of $6000. I'll notify you if the horse sells during that time, and please call me if your situation changes and you are able to pay for the horse in full."

And, yes, only accept cash for payment. If she has the money in the bank (which she should if she's agreeing to pay that much) then she can easily withdraw the money and drive straight over. Definitely no personal checks. 




kelseyannxo said:


> I'd say do a lease-to-own plan. Take her offer on making month to month payments to pay for the horse in full over however long it takes her. Let her come and ride your gelding on your property. This way, you're getting to see first hand if they really ARE a good match, not once - not twice - but over and over again. Make sure she can handle him and he can tolerate her. However, IF she backs out, (1 month in, 4 months in, etc.,) call the deal quits. Any money she has paid towards him will be considered a month to month lease, and just that and only that.
> 
> If she follows through and pays the $6,000 in total over x amount of time, let that be considered your full sale and release of your horse. This way, you both win, nobody loses money, nobody gets their feelings hurt, and worse comes to worse, you put your gelding up for sale again.
> 
> ...


Absolutely have a deadline on when payments are to be made/when complete payment is due. By definition if you require regular, set payments on the horse you'll be setting a deadline :wink: If not and you simply say "$1000 payments" (or whatever) they may make a couple of $1000 payments and not really be under obligation to pay the rest. 

I would not be concerned about requiring an "unrealistic" payment plan for her. The fact that the OP is even considering a payment plan is overly generous IMO, so if the buyer can't come up with the money necessary for a payment plan then they should not be trying to purchase this horse. You are right- if she doesn't have the money, then she doesn't have it. And in that case she should not be purchasing this horse. Perhaps that may sound harsh, but her financial limitations are not the seller's issue. 


All of this said, I would personally not consider payment plans on a horse unless I was really desperate to sell. I'd have to be really desperate, and even then I'd be VERY wary going into it unless I knew the person really well beforehand. 

And, as someone said, do not negotiate on the price if you do decide to go with a payment plan. Negotiation rights are (IMO) reserved for people with the cash and who are ready to pay for the horse. I would hold firm on the $6000 asking price if you go through with the payment plans, but be negotiable for a cash buyer who is a good fit for the horse.


----------



## LittleBayMare (Jun 2, 2014)

DuckDodgers said:


> ....
> 
> Basically tell her "I'll sell you the horse for $5000 (or whatever) now or at any point during the next 30 days. If at the end of 30 days I have not received any serious interest in the horse we will revisit the idea of payment plans to the full asking price of $6000. I'll notify you if the horse sells during that time, and please call me if your situation changes and you are able to pay for the horse in full."
> 
> ...


See, this is why I love HF. You guys always have such good advice. My problem right now is, I'm not sure if the anxiety I'm feeling is legit, or me just struggling with anxiety again. :icon_rolleyes: Because on top of trying to sell the darn horse I'm in the middle of the interview process for two potential new jobs and I'm in a big fight fight with the university trying to get my classes sorted out for next semester. I struggle with anxiety even when there is nothing to be anxious about, so it's really hard to tell sometimes if my gut is actually telling me something is wrong, or if I'm just overreacting again. :redface: Anyway, thanks for helping me put things in perspective.


----------



## DuckDodgers (May 28, 2013)

LittleBayMare said:


> See, this is why I love HF. You guys always have such good advice. My problem right now is, I'm not sure if the anxiety I'm feeling is legit, or me just struggling with anxiety again. :icon_rolleyes: Because on top of trying to sell the darn horse I'm in the middle of the interview process for two potential new jobs and I'm in a big fight fight with the university trying to get my classes sorted out for next semester. I struggle with anxiety even when there is nothing to be anxious about, so it's really hard to tell sometimes if my gut is actually telling me something is wrong, or if I'm just overreacting again. :redface: Anyway, thanks for helping me put things in perspective.


Since you're nervous about it then it may be best to go with "option two" and leave the horse on the market for awhile. Hopefully during that time you'd have a serious buyer come along and be willing and able to pay upfront so you wouldn't have to worry about the issue. Glad I could help look at things from outside eyes


----------



## LittleBayMare (Jun 2, 2014)

DuckDodgers said:


> Since you're nervous about it then it may be best to go with "option two" and leave the horse on the market for awhile. Hopefully during that time you'd have a serious buyer come along and be willing and able to pay upfront so you wouldn't have to worry about the issue. Glad I could help look at things from outside eyes


The nice thing about option two is, if she reacts badly, then its probably a sign that I didn't want to deal with her anyway. If she takes it well, then it could be a sign that she might be an honest person that can be dealt fairly with. Either way, if could be a good test as to whether or not she's a legit prospective buyer. As long as I handle the situation properly and explain where I'm coming from, if she was telling the truth about her situation, I don't see how she won't understand that this could work out best for everyone.


----------



## DuckDodgers (May 28, 2013)

LittleBayMare said:


> The nice thing about option two is, if she reacts badly, then its probably a sign that I didn't want to deal with her anyway. If she takes it well, then it could be a sign that she might be an honest person that can be dealt fairly with. Either way, if could be a good test as to whether or not she's a legit prospective buyer. As long as I handle the situation properly and explain where I'm coming from, if she was telling the truth about her situation, I don't see how she won't understand that this could work out best for everyone.


Exactly. If she gets upset then I'd say "Thanks, I'll find someone else." A reasonable person will understand someone's apprehension for a payment plan, and the desire for cash in hand. Plus, it really may work out best for everyone. If she can sell her horse during that period that may make payments not even necessary.

One thing you may consider doing is asking about her horse and say that you'd love to share it with some of your horse friends to see if they know someone interested. If she's not too keen on sharing the info with you to market her horse then that's sort of a red flag. I don't see any legitimate reason why she wouldn't want help advertising her horse. If she's more than happy to share her horse's info then it shows that she does actually have a horse and that she's actively trying to sell it.


----------



## LittleBayMare (Jun 2, 2014)

DuckDodgers said:


> Exactly. If she gets upset then I'd say "Thanks, I'll find someone else." A reasonable person will understand someone's apprehension for a payment plan, and the desire for cash in hand. Plus, it really may work out best for everyone. If she can sell her horse during that period that may make payments not even necessary.
> 
> *One thing you may consider doing is asking about her horse and say that you'd love to share it with some of your horse friends to see if they know someone interested.* If she's not too keen on sharing the info with you to market her horse then that's sort of a red flag. I don't see any legitimate reason why she wouldn't want help advertising her horse. If she's more than happy to share her horse's info then it shows that she does actually have a horse and that she's actively trying to sell it.


:beatup: Why didn't I think of that?! That is absolutely the perfect way to confirm her story. Scammers often get scared off when you call their bluff. So, if she isn't legit, she'll realize I'm not so easily taken in. If she is legit, I'll just look like a really nice person and potentially start off negotiations on the right foot. And I actually might know of someone who _is _in the market for a horse. Thanks Ducky!

I'm not feeling so nervous now that I have a plan of action. Plans always help my anxiety. :thumbsup:


----------



## DuckDodgers (May 28, 2013)

LittleBayMare said:


> :beatup: Why didn't I think of that?! That is absolutely the perfect way to confirm her story. Scammers often get scared off when you call their bluff. So, if she isn't legit, she'll realize I'm not so easily taken in. If she is legit, I'll just look like a really nice person and potentially start off negotiations on the right foot. And I actually might know of someone who _is _in the market for a horse. Thanks Ducky!
> 
> I'm not feeling so nervous now that I have a plan of action. Plans always help my anxiety. :thumbsup:


Yep, if you suddenly don't hear from her when you ask for details about her horse then you probably have your answer


----------



## LittleBayMare (Jun 2, 2014)

DuckDodgers said:


> Yep, if you suddenly don't hear from her when you ask for details about her horse then you probably have your answer


Best case scenario, my trainer's friend gets a new lesson horse, this lady gets mine, and I get to enjoy the pile of cash for 2 seconds before I use most of it to pay back the money my parents loaned me for my mare's eye surgery. At least I can hope. I will try to remain optimistic at this point.


----------



## LoriF (Apr 3, 2015)

I bought a horse on a payment plan that took me a total of a month and a half to pay. The horse stayed on the sellers property until the horse was paid for. From the time of the first payment and signing the contract the horse was considered mine. I also payed board for the horse from the day I signed the contract. I bought insurance on the horse just in case something happened to her while she was still at the sellers and also transport insurance (the horse was out of state). I found a hauler, payed off the horse (wire transfered) and she was shipped to me. I didn't know this lady and she didn't know me from Adam but we liked each other (our initial phone conversation was about two hours). 
Ask her how long she was planning on taking to pay off the horse if hers doesn't sell right away. If it's too long for you then just tell her you need the money sooner than that so you can pay off your bill to your parents as soon as you can.
I honestly wouldn't stretch out a payment plan more than three months at the very most.


----------



## Saddlebag (Jan 17, 2011)

Coincidence or what? Just got an email from a gal who received a down payment, allowed the horse off property, got two more payments and now the buyer is saying no more money and the horse is theirs. After I'd advised her to not get anxious and allow this. I even gave her names to contact of others who'd made this mistake.


----------



## LittleBayMare (Jun 2, 2014)

Saddlebag said:


> Coincidence or what? Just got an email from a gal who received a down payment, allowed the horse off property, got two more payments and now the buyer is saying no more money and the horse is theirs. After I'd advised her to not get anxious and allow this. I even gave her names to contact of others who'd made this mistake.


Eeep!  That is why my first plan of attack is going to be giving myself 30 days to find a cash buyer and, in the mean time, referring her horse for sale to my trainer's friend in hopes that helping her get it sold will completely eliminate the need for payments all together.


----------



## LoriF (Apr 3, 2015)

Saddlebag said:


> Coincidence or what? Just got an email from a gal who received a down payment, allowed the horse off property, got two more payments and now the buyer is saying no more money and the horse is theirs. After I'd advised her to not get anxious and allow this. I even gave her names to contact of others who'd made this mistake.


I don't think that there is anything wrong with taking payments if you can but I would never let a horse that I was selling off the property until it was paid for in full.


----------



## LittleBayMare (Jun 2, 2014)

ETA 4 hours for prospective buyer. Will let you know how it goes.


----------



## DuckDodgers (May 28, 2013)

LittleBayMare said:


> ETA 4 hours for prospective buyer. Will let you know how it goes.


Yep, definitely let us know how it goes! Being able to talk to her in person about it will be nice.


----------



## LittleBayMare (Jun 2, 2014)

Well, I met the buyer and two of her (adult) daughters. They are lovely people. They fell head over heels in love with Renegade and he with them. Of course, when I went to catch him in the pasture, Mis Jet, my green mare who is in heat, herded him away like she always does when she's in heat.  I would have kicked her out of the pasture before hand if I would have known she was going into heat, but this behavior is one of the few signs she shows. :icon_rolleyes: Fortunately it still only took me about three minutes to get him as he wasn't a very willing participant in being herded away. They just chuckled at Mis Jet's antics and didn't seem to hold it against the poor guy. 

I rode him first and showed them all of his "arena buttons". I did so with the gate standing wide open (on purpose). He never once showed any sign of trying to duck out the gate. I was so proud of him! Then each of them took their turn. One of the daughter's hadn't been on a horse in over a year but Renegade was an angel and took good care of her (once again, with the gate wide open). After the arena work we hit the trails. Nothing big, just a 5-10 minute loop with enough varied terrain to give them a good test ride. I rode along on Mis Jet, the only other riding horse on the property. Renegade did fabulous. They especially liked the way he oh so slowly picked his way down the steep rocky slope on a loose rein. 

The funny thing is, she never once mentioned a payment plan. :confused_color: She did say that she couldn't afford him until her other horse was sold. Understandable. She seemed very experience and knew what to look for. I liked the way she very methodically went about looking at him and made sure she saw and tried absolutely everything he was advertised to be able to do. She said she _really _likes him and if he is still on the market once she gets her horse sold, she'll definitely be back for a second look. We ended up talking for quite a while. The horses were grazing on lead lines. I could tell that she was watching Renegade to see how he acted.

Throughout the course of conversation, they pointed me in the direction of a place where I might be able to get a good deal on a stock trailer. I got the info on the horse they are trying to sell to pass along to some of my contacts. So it was a win win even if they don't buy Renegade. We talked for quite a while and it turns out we have many of the same views on horse care. It could very well be the perfect home for him, but we shall see. She did comment that, as much as she likes him, she doubts he will be on the market long enough for her to get the money together because he is such a nice horse. That was encouraging to hear.

Also, I did get another call from a perspective buyer this afternoon. Unfortunately, after a long conversation over the phone we were able to determine that Renegade probably would not suit his wife's needs at this time. He thanked me for my honesty. It would have been a 5 hour drive for them and I didn't want to make them drive all that way when I had the feeling that he might not be quite what they were looking for. We agreed that if they would have been closer, it might have been worth the trip to see anyway, but 5 hours was a bit much given the chances that he probably wouldn't be exactly the right fit. So while that buyer didn't pan out, it did make me feel good to have more than one call in the first week. Obviously the price isn't too outrageous, especially given that I am willing to negotiate a little to the right home. :cheers:


----------



## DuckDodgers (May 28, 2013)

I'm glad it went well with everyone! It's possible that she may have decided a payment plan isn't right for HER situation, so that's why she didn't bring it up. Having to put down payments on a horse while still owning another one isn't easy for everyone, so waiting may be better for her. I'm glad that you've had other inquiries, so hopefully something will work out for you sooner rather than later!


----------



## Textan49 (Feb 13, 2015)

DuckDodgers said:


> I'm glad it went well with everyone! It's possible that she may have decided a payment plan isn't right for HER situation, so that's why she didn't bring it up. Having to put down payments on a horse while still owning another one isn't easy for everyone, so waiting may be better for her. I'm glad that you've had other inquiries, so hopefully something will work out for you sooner rather than later!


 I agree. She may have given the situation as much thought as you have and decided that it wasn't a great idea. I would say it worked out very well.


----------

