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Post by roxy93 on Apr 15, 2014 14:47:13 GMT
Hi,
So I fully loaned my mare out in January, since then the lady has asked and asked and asked if she could by my mare, was the hardest decision ever but I said yes as the home she is at could not be better!! Now as she was not expecting me to say yes she spent the money on a horsebox instead and then I said yes so she has asked to pay in instalments.. Now I have never sold a horse before we have a contract for the loan. Now what should I do with the purchase go to a solicitor and have a letter signed to say that she is going to pay a certain amount in a certain amount of time and have is signed??
Thank you. I have regular contact with the lady as she does transport for me now to shows which is great can stay In good contact with her about my mare.
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Post by gillwales on Apr 15, 2014 14:58:23 GMT
yes I would with clear guide lines for both of you, send a copy to the society she is registered with. Make certain the Lady understands it is to protect both of you so she is not offended, also ensure the mare is insured in your name and consequences if payments cease etc.
good luck
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Post by roxy93 on Apr 15, 2014 15:06:50 GMT
Oh yes she is very friendly just had a chat with her and what I am going to do etc.. I will find an equine solicitor to write something up for me.
Thank you
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Post by Philippa on Apr 15, 2014 17:42:55 GMT
Ive sold in installments, gut instinct has always worked for me. If it hasn't worked out ive simply brought the horse home.
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Post by Guestless on Apr 15, 2014 18:14:44 GMT
I've twice sold ponies paid for in instalments. I just altered the loan agreement to show the minimum monthly payment and it worked just fine.
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Post by chalky284 on Apr 15, 2014 21:01:12 GMT
I paid for mine in instalments, but I didn't take delivery until fully paid for.
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Post by roxy93 on Apr 16, 2014 7:59:32 GMT
Hi the horse is on full loan she has a great home never been happier seeing her being so happy so I wouldn't be bringing her home. If it wasn't for the legal side I wouldn't even bother with a contract as I know she will pay for her each month but to be on the safe side it is best to have the paperwork, I will have a look at the loan agreement and change the wording to what we have now.
Thank you
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