How much deposit(12 Posts)
Am going to look at a pony and have never bought a horse or pony before. Plenty of riding experience and horsey friends to advise on what to ask. Need some advice on how much deposit I would expect to pay to hold subject to vetting? Presumably this is refundable if it fails. Am thinking of asking for short lwvtb as trial period, but not sure how to get an agreement drawn up if they say yes. Pony is advertised as £1000 ovno. Should I expect to just pay the full amount or is it normal to offer below that - thinking houses here . Any other advice on the formalities of actually completing the buying process would be a great help. Think I'm ok on actually assessing suitability, though I'd gladly take any pointers on that too - more daunting looking for a pony I can't ride for DD than something for myself!
We've never paid a deposit for any horse, and I would be incredibly suspicious of any seller who wanted one.
Unless the pony is "for loan with a view to buy" I wouldn't get your hopes up about it.
DO NOT go to any viewings without a good, trusted, experienced friend who you know will be unbiased and brutally honest about the horse's suitability for the person and purpose it is intended for. You might think you are ok at assessing suitability, but buying horses is a whole other barrel of fish. I've over 20 years experience, and I still wouldn't go without a second pair of eyes I trust.
We regularly leave a deposit on a horse, and have received them too. It's normally 10% of agreed purchase price, subject to a satisfactory vetting. If the horse/pony fails the vet, then you get the deposit back, otherwise you are expected to complete the sale. if for some reason, you decide not to proceed having put the deposit down, then you forfeit the money.
If the pony is advertised as ovno, then they are expecting an offer on the asking price. I would offer lower than you are prepared to pay, and then that give you room to raise the offer should they turn you down! EG on an asking price of £1000, offer £800, meet at £900
We normally pay with cash (and get paid with cash) on collection. Usually, collection is within a few days of the vetting - you might get charged livery if you take too long to collect, but you can discuss that with the vendor.
If they agree to a lwvtb, then get a written agreement drawn up, that both parties are happy with, stating length of trial, details of insurance, what type of work/trial the horse/pony is to have, all contact details, and how/when payment is to be made, among other things.
In terms of assessing suitability - make a list of the features that are vital/desirable/undesirable and check off which the pony has/doesn't have. Work out what you can compromise on, and what are absolutes.
It's hard if you can't sit on them yourself, but try to make sure you see it handled/ridden in as many situations as possible, including catching, and preferably by a child, if it's for your DD.
Most people won't entertain lwvtb or trial periods, particularly if it's a good pony, so you may just have to bite the bullet and buy - but remember, you can always go back and try a couple of times - you don't have to decide after just the one viewing. Get as much information as you can - see if the pony has any Pony Club references too.
I would say exactly the same as Stayathome in terms of negotiations etc. We offer 10% deposit - refundable if fails vet - and everything is in cash. The only thing I'd question on a pony of this comparatively low value is what sort of vetting you want. I presume you'll just go for a 3 stage? Will you also want bloods? We never ask for, or give, LWVTB so don't hold it against them if they don't either. What we have done, however, (if pony is within 100 miles of us) is we've gone to ride it a couple of times - once just in school and once hacking out..
The only time I have paid a deposit is when we took a pony on a short (2week) trial period.
Interms of vetting, I never have had our ponies vetted - but they have always been around the £1000 mark, and we insure. (Under £5k most insurers don't need a vetting certificate and you just have a 2 week exclusion period). It depends on what you are using them for and if you could spot lameness, a pony that was really unsound or uneven. I also often get a second opinion, from a horsey friend who has more experience than me.
The last pony I bought was a lead rein - but ended up paying a little more than I usually do, so I sent some video to my physio/osteopath to double check.
I've always had horses 5 star vetted. My vet has picked up stuff I hadn't even thought about. I've never got a reduction in the asking price for the horse, but have always asked the seller to deliver the new horse for me - saves the stress of collecting and the cost of transport. Have had tack included in the asking price, but have always needed new saddles (although he rugs have been useful).
Thanks everyone for your help. The owner on this occasion decided we were not the right owners for her pony but didn't tell us that until we'd made the 400 mile round trip to have a try. But they are the owner and I guess that is their perogative…… so much for adverts that say "no time wasters"! Back to the drawing board, so if anyone is selling a 12-12.2 lovely first pony that's not ££££ or ancient then please pm me!
Just to be the seller's perspective, having sold two smaller ponies, we did have people come and try them whose kids "managed" and even enjoyed the trial ride but who I wasn't happy to sell to. This was usually because my assessment of where the child was in terms of capability and experience was different to the parents' view. I wasn't "wasting time", I was trying to ensure that lovely ponies didn't end up mislabelled and passed from pillar to post. I'm sure the potential purchasers were annoyed but I couldn't have lived with myself if I'd sold and within weeks problems started.
£1000 isn't much for a safe 1st pony!
Good on the seller's. There are too many people willing to sell to the first person that turns up with a pocket full of money.
Marialouisa - that wasn't the reason, we were too far away - she knew where we were before we came to look and I was totally honest about my children's ability. We are in Central Scotland
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