Re: buying a horse/warning

[Sue Brown <sbrown@wamedes.com>]

>In my opinion, the pre-purchase is a pretty good indication of a
>serious buyer and "I" would have communicated with BOTH interested parties
>regardless.
>
>Dawna
>

It's called "integrity" folks.  ;-)

I've bought and sold several horses over the last 15 years (and we run a
small boarding barn)...and I agree that both parties should have been
communicated with.  While I don't consider a pre-purchase exam legally
binding in any way, I *do* consider it a definite sign of intent.  I know
that *I* don't order a pre-purchase exam on a prospective purchase unless
I'm pretty sure that that's the horse I want and I intend on buying it.  I
certainly don't have the money to vet every horse that I consider! ;-)
(Perhaps I've had enough good encounters with honest people that I'm not
jaded as yet since the majority of the sales transactions were done with a
"handshake" and the purchase papers signed at the time of the final
transaction.)  

In the situation recently described here, the first person who claimed
intent to purchase the horse (to the extent of ordering the vetting) should
have been notified that someone else has the cash in hand for more than the
original asking price...and if they wanted to secure the purchase, they
would need to put money down as a non-refundable deposit (refundable, of
course, if the horse doesn't pass the vetting.)  A deposit is a way of
holding a purchase *at the current price* and not done, the buyer
definitely takes a risk that the horse may go to someone else who offers
more and has the money in hand.  The first person should have had the
option to meet the increased rate (no where else in life are you immune to
the rise in a price if you don't put money down as a security that you will
get the intended purchase at the price stated) and should have been
notified first.  If the first person agrees to the price and makes a
deposit, they can be assured that the purchase is theirs.

"Buyer beware" -- while "gentlemen's agreements" usually work fine in the
horse world, if you have any notion that someone else may come along and
want the same thing you want (or even if you just want peace of mind), and
you don't know the seller well enough to have 100% confidence in their
integrity, SECURE your purchase at the price stated!  Get a contract and
put your money where your mouth is!  Or, to reiterate an equally overused
phrase "Money talks,..." etc. etc.!! ;-) 

Sue

sbrown@wamedes.com
Tyee Farm
Marysville, Wa.


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