Tips for buying a horse; Good Rules for Selling Horses

msequine
School Master
School Master
Joined: May 15th, 2005, 5:16 pm

October 20th, 2008, 1:52 pm #1

This info came from FuglyHorse website and was attributed to Author Unknown. I added a couple of comments of my own which will appear in blue italics.
wrote:
    [size=50]
  • 1. Your first meeting with the person interested in the horse should be in a public place OR make sure you have several people there at your place. You just can't trust people these days, so take every precaution to keep yourself safe.
  • 2. Vet checks should always be welcome to prospective buyers, but YOU take the horse to THEIR vet if they want to use a vet different from yours. A prospective buyer should NEVER be able to take your horse anywhere - if they want to ride the horse on trails, you trailer the horse there and go for a ride with them (have other people come, too). If they are not the horse's owner, they should not be allowed to do anything with/to the horse without you being there. (Note: To avoid conflict of interest, buyer should use their own vet for pre-purchase exams.)
  • 3. Have a Liability Contract that holds you NOT responsible if that horse hurts someone trying him out. That should be signed before they put a single finger on that or any other horse on your property. Again, you can't trust people these days, and lawsuits are sometimes a scam that the person set-up. I don't care if it's a weanling, or the "perfect" horse, or a wild one you can't put your hands on: the point is that ANY horse can hurt someone, whether on purpose or on accident; you CAN get sued...and you CAN lose.
  • 4. If you are taking payments on a horse, HAVE A CONTRACT. The horse stays on YOUR property until ALL payments clear. It's okay to still take checks, cashier's checks, or money orders, but make sure you utilize the full 10 days it will take for the payment to clear the bank. That way you don't have a bad check, and they have a "free" horse. Make sure the contract includes a plan for if something happens to the horse while it is still being paid for. (I make a person sign that they will fulfill the contract even if the horse dies, or they get insurance on the horse in YOUR name. That way, you still get paid for the horse. Of course, you should still be taking excellent care of them - don't pull them off feed and toss them in a pasture! Be responsible - after all, they should be paying that feed bill now.)

    (FHOTD in: This is a really good point. I think the temptation, especially when times are tough, is to take payments and let the horse go so that you don't have to feed it anymore. This is just ASKING to get scammed though. It really is. Ask your friends how many people default on payments. Happens ALL the time, on cheap horses and pricey horses, makes no difference. People default all over the place and either don't return the horse or return it so messed up and skinny it costs you months of time and plenty of money to even get it back to where you can sell it again.)
  • 5. If the horse is on a payment plan, have the buyer sign a boarding agreement saying they are responsible for any bills the horse incurs while staying with you (feed, hay, farrier, VET, etc.).
  • 6. The day the new owners come to get the horse, again have people around. Now you're not so much worried about safety (unless they buy the horse and take it the first time you meet.), but rather you want witnesses that the horse is loaded in the trailer and leaving your property sound and healthy. You ALWAYS want witnesses! This way they can't come back and say that the horse was hurt before they got it home... if something happened in their trailer, you are NOT responsible for that horse once it left the tip of your driveway! (Note: You could also have a friend video the event.)
  • 7. NEVER let someone come see the horses or enter your property to see the horses while you are not there. Let a person know that up front - if they cannot coordinate a time to come see the horse while you are there, there is something fishy going on. If they are REALLY interested in that horse, they will FIND the time to come see it. Even if it takes them 2 weeks, they will find the time. If you give the person your address, once an appointment is set, make sure your gate stays locked at all times unless you are there. You don't want to come home and find an empty paddock.[/size]


Those are my rules of thumb for selling. Hope they are helpful! Scammers are everywhere, and they get smarter and more cunning as their tricks are found out.


Join us on:
Quote
Like
Share

lovepaints
School Master
School Master
lovepaints
School Master
School Master
Joined: February 3rd, 2006, 6:54 pm

October 20th, 2008, 4:17 pm #2

Now Fugly needs a "Rules for Buying a Horse" so everyone will know what to look for if they encounter those "Don't ask Don't Tell" sellers.
Quote
Like
Share

LeLoo
School Master
School Master
Joined: June 25th, 2005, 4:59 pm

October 20th, 2008, 6:37 pm #3

There are no set rules for buying a horse. It can be purchased through a private owner, a sale barn, or the Internet. Remember, a horse can look ideal on the Internet, but you can't see its temperament on a screen. If you're interested in a horse that is listed on the Internet, go and see it in person prior to the purchase. Talk to other horse owners if you plan to buy a horse for the first time. They've been through the process and know what to look for. Here are six tips to consider before buying a horse.

Purchasing a young horse will requiremore training costs than an older,
well-trained horse.

1. Match the age and training of the horse with the skill of the rider.
An inexperienced, first-time owner should ideally buy a well-trained, older horse, whereas a more experienced owner may enjoy training a younger animal. Colts and kids are not a good fit. Hiring an experienced trainer may be helpful for the beginner. It is important to be able to handle the horse and feel safe. If you buy a horse that is broke, factor in the training savings. Likewise, if you buy an untrained horse, add training expenses.

2. Have a veterinarian check the horse.
Obtain all medical records for the horse and ask the vet to review them. All vaccinations should be included in the documents. If the horse is young or hard to handle, have an experienced handler available when the vet does the physical examination. Ask the vet about feeds and supplements.

3. Watch how the horse behaves around people and other horses.
When you go to see the horse, observe its behavior from afar. If the horse acts up with people or other horses, it is likely it will act up when you own it, as well. If it's possible, ask if you can keep the horse for a few days before making a final decision.

4. Consider the breed.
It is important to think about how you will be using the horse. Some breeds are known to be better for trail riding, racing, jumping, barrel racing, roping, or various other activities. For example, if you want a hunter/jumper horse, a horse trained for barrel racing is not appropriate. Ask if the horse is registered. Check its pedigree.

From here
Quote
Like
Share

LeLoo
School Master
School Master
Joined: June 25th, 2005, 4:59 pm

October 20th, 2008, 6:40 pm #4

Excellent tips

Here
Quote
Like
Share

msequine
School Master
School Master
Joined: May 15th, 2005, 5:16 pm

May 24th, 2009, 10:00 am #5

SELLING A HORSE IN INSTALLMENT PAYMENTS?
Know the Pitfalls Before You Leap
wrote:Installment payment disputes are common in the horse industry. As this author, an experienced lawyer, has learned, many disputes can be avoided when those who act like a bank are willing to think more like one, too. This article discusses common pitfalls of installment sales transactions and offers some practical suggestions for avoiding them.
Click on title to read full article.

LEGAL ASPECTS OF THE TRIAL PERIOD
Five Foreseeable Problems and Ways To Avoid Them
wrote:In the horse industry, trial periods often involve: [1] the buyer paying little or no money until later, if the deal goes through; [2] the buyer hauling away the horse to an unspecified place; and [3] no written contract. These arrangements, especially when done in this manner, can invite many problems. This article discusses five possible problems and ways to avoid them.
Click on title to read full article.


Join us on:
Quote
Like
Share