Horse buying contract-current owner wants to keep till world show
 
 

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Horse buying contract-current owner wants to keep till world show

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        04-26-2014, 03:29 PM
      #1
    Foal
    Horse buying contract-current owner wants to keep till world show

    I have a question, maybe some people/or any lawyers on here could give me some real life insight. There is a horse at my barn I am looking at buying, and the current owner wants to keep him till the world show..my question is if I wanted to buy him, she wants me to put down 50% and after world show is he mine..well if I did that, what if something happened to him...like he got hurt or maybe died-i mean you never know, or could she decide oh well he won alot and now I wanna charge her more and go up on price? Would he a written document up hold, or what LEGALLY are my rights and is this a good idea to begin with??? Is there another way I could go about it and have it where my head is not in the loop so to speak and everything is more on my side?
         
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        04-26-2014, 03:35 PM
      #2
    Yearling
    I honestly don't think I would do it personally. I'm sure you could find just as nice a horse without all the string attached. But if you are dead set on this horse, then yes definitely get a contract. Though I am a little confused on why she wants money now unless she is hurting for it? Why not just wait to sell after Worlds if she wants to take him so bad? If you do go the contract route, I would make sure the 50% is refundable in the case of injury, death, or if she backs out, etc. And that the price is agreed upon in the contract and that it cannot be changed.
    Chasin Ponies likes this.
         
        04-26-2014, 07:05 PM
      #3
    Showing
    No money up front. She either sells him now, lock, stock and barrel, and forfeits the show or she takes a chance you'll still want him later. I suspect you've let her know how much you want this horse. Big mistake. You need to shop around for others. There are some mighty nice horses out there and you won't have to pay legal fees to have an iron clad contract drawn up. This gal wants it all her way. Let her have it only not at your expense. These arrangements usually turn sour.
    Chasin Ponies likes this.
         
        04-26-2014, 07:18 PM
      #4
    Green Broke
    If she was needing the money that bad then I doubt she'd be doing a world show. Just saying. Shows, especially world shows are $$$$. Sounds fishy to me. Either she sells him now or sells him after the show but she should not expect you to put a down payment on him if she's going to show him at world show.
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        04-26-2014, 08:10 PM
      #5
    Trained
    GET A SOLID CONTRACT.

    If you have a contract that states he's X amount of dollars PERIOD, you pay 50% that means he's yours, but only up until the time he's delivered do you pay the rest of X, if he dies or is seriously injured under her care you get the deposit back.

    If he does well you've got a world champ for X, not a penny more.
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        04-26-2014, 10:36 PM
      #6
    Foal
    Yea, I would definitely have to have a solid contract and I am looking at another horse next few days, so I am actively looking still and I told her today, Id definitely have to think about it, more like sleep on it for a few days and talk to a lawyer, because there is alot that could go wrong, I mean it could go fine, but when it comes to stuff like this, I know you gotta cover your butt and cover it good, I rather pay, pick up the horse and its mine, no all the mumbo jumbo and in-between ...just I pay and the horse is cut and dry mine!
    Chasin Ponies likes this.
         
        04-26-2014, 11:49 PM
      #7
    Weanling
    I tend to agree with the other posters as it is simply a matter of logic. You could apply the same scenario to a car, horse or any other possession. You are either buying the horse now or at a later date. There can be no middle ground simply to accommodate her interests. She can't have it both ways and it certainly places her in a win-win situation. Your concerns are very valid.
    I think it would be foolish to buy any item that you can't take possession of.

    Stay strong and listen to your own reasoning.

    My very best to you !
         
        04-27-2014, 02:22 AM
      #8
    Trained
    She can sell him to you now and lease him back until after the show is over. Otherwise, if you're still looking after the show, talk then.
         
        04-27-2014, 10:23 AM
      #9
    Showing
    If the seller spends the deposit, even with an iron clad contract, then how does one get their money back except thro lawsuits and even those don't guarantee getting the money. Do you really think this horse will do well in world class competition? Because so many show up, eliminations are done in the mornings and afternoons and many horses wind up going home because they didn't cut it.I suspect this gal figures she's got a live one on her hook.
    Chasin Ponies likes this.
         

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