buying a foal

[stormyskies]

When you have a buyer out a deposit on a foal until weaning, how does it work if anything happens to foal in meantime? Is the buyer entitled to deposit back etc

Thanks

[Jenna]

Apr 20, 2010 17:50:52 GMT stormyskies said:

When you have a buyer out a deposit on a foal until weaning, how does it work if anything happens to foal in meantime? Is the buyer entitled to deposit back etc

Thanks

I should think so yes

[flair1]

yes i agree with jenna, but also you could insure the foal for the cost of your deposit, which is what i have done before when buying foals.

[holiday]

I would also say insure, it depends on the stud I would go with their advise to what they feel. As we all know foals can get hurt or injured very easily.

[stormyskies]

lol i am stud. i have a 5 week old that someone is wants to put a deposit on. just wondered how it would work as have only ever sold at weaning before

[kidside]

I would ask for them to pay in full (this also rules out any chance of them giving back word and potentially loosing a sale in the future) and you would keep the foal for free, therefore it is then their responsibility if anything goes wrong and they can pay to insure instead of you.

[stormyskies]

i did think that

[holiday]

In that case, I would also expect payment in full once foal is 7 days old and the buyer to be responsible for insurance up until weaning. You may miss the opportunity to sell further on if you take a deposit and they walk away!!!!

[kidside]

I agree Holiday in the current climate so many foals seem to sell and then the buyer give back word at weaning at least you know it will def be sold and move onto others that need homes, if they refuse to pay in full now I would have doubts they are serious buyers.

[saza911]

when i've ever bought foals its been 10-20% deposit which is Non refundable then the balance on collection just after weaning.
My friend breeds and she has sold all hers within 7 days of them being born! She does the same i suppose it would depend on the stud so make sure you ask the question and get them to give you a receipt stating if it is refundable in the case of an accident etc

[marchell]

We never take a "deposit" - its always a part payment. This is obviously deducted from the purchase price. If for any reason the sale does not go through then that part payment is non refundable.
The purchaser can then chose to insure the foal or not.
As above - peoples circumstnaces change (especially in this climate) and to mark a foal as sold soon after birth can backfire when the purchaser pulls out of the sale months down the line. Usually numerous enquiries will have been turned down in the meantime so by doing it this way we find that we at least have some recompense for the loss of the sale.
Thankfully most sales go through without a hitch but there is always pregnancy, loss of employment etc that put a spanner in the works.

Jane

[stormyskies]

Thanks. She is paying in full for him

[owl]

Apr 23, 2010 10:37:00 GMT kidside said:

I would ask for them to pay in full (this also rules out any chance of them giving back word and potentially loosing a sale in the future) and you would keep the foal for free, therefore it is then their responsibility if anything goes wrong and they can pay to insure instead of you.

yes -I would do that too.