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Horse boarding a contingency to sale of house?!?

This is a discussion on Horse boarding a contingency to sale of house?!? within the Horse Talk forums, part of the Keeping and Caring for Horses category
  • Received horse boarding rent in year of sale does that make land adjacent to house taxable

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    12-17-2013, 07:21 AM
  #11
Showing
.

Pretty much agree with the others and say no.

Buying a farm and allowing the old owners access to it for a year? No Way!

Liability issues for you are just too numerous to type.

.
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    12-17-2013, 08:10 AM
  #12
Trained
No how, no way. There are WAY more downsides to this….in fact, I cannot see an upside. What is to say they will take the horses after a year? If you are in the US, the market is slow this time of year. I would tell them no and let them sit. If it sells to someone else-oh well, but I would bet it won't and in another 4-6 weeks the market will start to pick up for spring, leaving you (and every other buyer out there) with more choices, and these folks with more competition to sell theirs. I have found over the years…via my DH who can be a real stickler for details in contracts-no matter HOW much I love a house….if we lost it we always have ended up with a better one. There is ALWAYS another, and these folks need to understand that they are not the only option around. Stand firm. Trust your gut because usually if you think it stinks it does.
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    12-17-2013, 08:30 AM
  #13
Showing
It's a short sale. The owners are under water and can't afford the place so them making ANY demands, especially one so ludicrous, is ridiculous.

Tell me, does the mortgage holder know they're trying to put that in the contract? If they do and have agreed to it, I hope they plan on keeping that place for a long time.

If I buy a place, it's mine. Nobody gets squatter's rights.
     
    12-17-2013, 09:55 AM
  #14
Foal
I'd put in a counter offer and say they, and their horses can stay for 30 days after you purchase the house. Any time they spend in the house/farm after that will be charged $100 per day. We went through something similar when we purchased our current property. It was a short sale, sold as-is. The previous owners took the full 30 days to get out, but they were out before the "rent" started to take effect.
     
    12-17-2013, 10:09 AM
  #15
Trained
Absolutely not. Walk away and wait until the place gets foreclosed on. Then it will just be you and the bank, they'll already be out.

What if:

You agree and they come on the property and get hurt?
Their horse is injured and they can't pay the vet?
They run out of money for horse feed?
They come one the property and constantly bring a boatload of friends?


Run, don't walk.
     
    12-17-2013, 11:51 AM
  #16
Weanling
I myself would demand the horses be gone at the time of closing, pretty much for the same reasons as Dreamcatcher Arabians said. I also wonder if your lender if is ok with the contingency the seller is demanding (if you are getting financing that is).
     
    12-17-2013, 12:17 PM
  #17
Foal
I would say no way, its just to much of a risk, you guys might not get along, something might not go right the idea that "well we lived in the house for such and such years!" might come up if you asked them to leave...i mean you BUY a horse property, for the idea you can bring your own horses on the Property, not care or watch someone else's
     
    12-17-2013, 01:30 PM
  #18
Weanling
I wonder if your insurance would even allow it. It's one thing to have your own horses, it another to run a "boarding business"...
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    12-17-2013, 02:54 PM
  #19
Yearling
Totally agree I would not go for it, and also agree with everyone saying the bank should be very aware that the sellers are trying to include this. Does your realtor know if there are other offers on the house? I know that might make you feel like you have less leverage, but I think I'd probably be prepared to walk away if that were a condition (though I really can't imagine a bank would go along with ruining a sale for this sort of unusual provision).
     
    12-17-2013, 03:32 PM
  #20
Yearling
Ok so my first reaction is no. But after trying to look at from all sides... first if they are selling the home on a short sale then money is obviously a problem for them. Maybe they asked because they aren't sure what they are able to do with their horses. That being said a year for me is too long - six months should be enough time to either get them moved or sell them if they need to do that.

If it was me I would see if they were going to pay board. Reason being if they had enough horses they could end up paying your mortgage for a few months. Which could be pretty cool.

All that being said I would want a very clear contract of responsibility and liability. I would also probably get liability insurance for the deal and make them pay it.

Finally, I feel that it is inappropriate to counter with that offer they did. I agree with the rest it's kind of like buying a house and they still get to love there.
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