Writing a Contact -- Buying a Horse in Payments - The Horse Forum
 1Likes
  • 1 Post By Brighteyes
 
LinkBack Thread Tools
post #1 of 10 Old 07-05-2013, 01:51 PM Thread Starter
Green Broke
 
Join Date: Mar 2009
Location: Georgia
Posts: 3,246
• Horses: 2
Writing a Contact -- Buying a Horse in Payments

I'm going to buy an Arabian mare. I talked to the seller today and proposed my plan to buy the horse. The horse costs a total of 2300. I said I would pay 550 down, and then 250 every month until the horse was paid off. The seller agreed, and told me to write up a contact for us to sign.

... So. How do I even begin to do this?
Brighteyes is offline  
Sponsored Links
Advertisement
 
post #2 of 10 Old 07-05-2013, 01:57 PM
Trained
 
Join Date: Jul 2011
Posts: 5,321
• Horses: 1
Contact a lawyer. It may not be legally binding if you just write up whatever on your own.
Posted via Mobile Device
DancingArabian is offline  
post #3 of 10 Old 07-05-2013, 02:14 PM Thread Starter
Green Broke
 
Join Date: Mar 2009
Location: Georgia
Posts: 3,246
• Horses: 2
I'm going for more like a bill of sale, only with the monthly payments option. I've written a few simple bills of sale (for cars and non-horse things) and never had any problems. I don't have a lawyer, but I could probably find someone with more legal experience than I to look it over.
Brighteyes is offline  
post #4 of 10 Old 07-05-2013, 02:18 PM
Green Broke
 
Join Date: Jan 2011
Location: Oregon
Posts: 2,791
• Horses: 2
Let me check. I know I have a couple.

Melinda
nvr2many is offline  
post #5 of 10 Old 07-05-2013, 02:20 PM
Green Broke
 
Join Date: Jan 2011
Location: Oregon
Posts: 2,791
• Horses: 2
I found a really simple one that I have used. PM me your email and I will send it to you to look at.

Melinda
nvr2many is offline  
post #6 of 10 Old 07-05-2013, 02:22 PM Thread Starter
Green Broke
 
Join Date: Mar 2009
Location: Georgia
Posts: 3,246
• Horses: 2
^^ Thank you!
nvr2many likes this.
Brighteyes is offline  
post #7 of 10 Old 07-05-2013, 03:49 PM
Super Moderator
 
Join Date: May 2012
Location: CT USA an English transplant
Posts: 22,509
• Horses: 3
Don't forget to agree on what happens to the horse should you be unfortunate enough to not make all the repayments.
If that happened you could end up owning the biggest share of the horse but it wouldn't strictly speaking belong to you so you need to know if the seller would refund everything you've paid and take the horse back or if you would have to wait for the horse to be sold again until you get any of your money back
When you buy a horse like this you should always take out insurance cover at least until all the payments have been made
jaydee is offline  
post #8 of 10 Old 07-06-2013, 12:45 PM Thread Starter
Green Broke
 
Join Date: Mar 2009
Location: Georgia
Posts: 3,246
• Horses: 2
^^ Good things to think about.


Another question. Would I have to wait until she is completely paid off for her registration to be transferred to me, or could I request to have her papers signed over as soon as I sign the bill of sale? I'm going to start competing her in the fall, a few months before I image she'll be paid off. So it would be nice to have her in my name.
Brighteyes is offline  
post #9 of 10 Old 07-06-2013, 12:49 PM
Green Broke
 
Join Date: Jan 2011
Location: Oregon
Posts: 2,791
• Horses: 2
I would not sign over papers until all was paid in full.

Melinda
nvr2many is offline  
post #10 of 10 Old 07-07-2013, 03:00 PM
Super Moderator
 
Join Date: May 2012
Location: CT USA an English transplant
Posts: 22,509
• Horses: 3
Strictly speaking she wouldn't be yours until all payments have been made. You could show her in your name in the UK but not as her owner - not sure how it works in the US.
Sometimes its easier to try to get a bank loan in situations like this
jaydee is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the The Horse Forum forums, you must first register.

Already have a Horse Forum account?
Members are allowed only one account per person at the Horse Forum, so if you've made an account here in the past you'll need to continue using that account. Please do not create a new account or you may lose access to the Horse Forum. If you need help recovering your existing account, please Contact Us. We'll be glad to help!

New to the Horse Forum?
Please choose a username you will be satisfied with using for the duration of your membership at the Horse Forum. We do not change members' usernames upon request because that would make it difficult for everyone to keep track of who is who on the forum. For that reason, please do not incorporate your horse's name into your username so that you are not stuck with a username related to a horse you may no longer have some day, or use any other username you may no longer identify with or care for in the future.



User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.


Old Thread Warning
This thread is more than 90 days old. When a thread is this old, it is often better to start a new thread rather than post to it. However, If you feel you have something of value to add to this particular thread, you can do so by checking the box below before submitting your post.

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Writing A Journal On Your Horse Breezy2011 Horse Talk 4 06-13-2013 03:29 AM
Buying a trained horse V investing money in training, and why buying can go wrong! Golden Horse Horse Talk 49 05-26-2013 10:18 AM
Nice CC sadde, will take payments! thinktwice Tack and Equipment Classifieds 1 03-08-2010 12:14 AM
Writing a horse story and need help... horsewriter Horse Talk 9 02-13-2009 12:56 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome