Field-of-Dreams
Well-Known Member
On our farm the horse doesn't leave until paid in full. Cash only.
Help Support Miniature Horse Talk Forums:
I have recently been involved in a case of repossession. It is not a pretty sight.
A widow sold her husband's horses on payments, and all was well for a while. Payments stopped. She found out the buyer had leased the horses to someone else! Plus, the buyer had substituted an inferior horse for one of the better horses of the original herd. The leasers were supposed to continue payments on the hroses. But they stopped payment and told the widow to come and get the horses as they couldn't feed them.
There were a lot of unbusinesslike things that happened in this sale, mostly due to the widow trusting too much. The first mistake she made was sending the original registration papers with the horses before they were paid for. The buyer transferred the horses into his own name and then stopped paying. The folks who leased the horses and took over payments only got copies of the registration papers. When the widow went to get the horses, there were no original reigstration papers with the herd.
Sellers need to consider the welfare of the horse in the long term. Foals from these particular mares were not registerable because of the whole unbusinesslike transaction, as a lot of paperwork fell through the cracks in this case.
A widow sold her husband's horses on payments, and all was well for a while. Payments stopped. She found out the buyer had leased the horses to someone else! Plus, the buyer had substituted an inferior horse for one of the better horses of the original herd. The leasers were supposed to continue payments on the hroses. But they stopped payment and told the widow to come and get the horses as they couldn't feed them.
There were a lot of unbusinesslike things that happened in this sale, mostly due to the widow trusting too much. The first mistake she made was sending the original registration papers with the horses before they were paid for. The buyer transferred the horses into his own name and then stopped paying. The folks who leased the horses and took over payments only got copies of the registration papers. When the widow went to get the horses, there were no original reigstration papers with the herd.
Sellers need to consider the welfare of the horse in the long term. Foals from these particular mares were not registerable because of the whole unbusinesslike transaction, as a lot of paperwork fell through the cracks in this case.
Always a bad situation. I've only had one I had to threaten...years ago, a colt sold to a friend. It dragged on for probably a year, until I finally had to threaten to come get him. I think what got the final CASH payment was when they decided to sell him and needed the papers lol. It was especially aggravating since it was a friend...and I learned to do my paperwork no matter who I was selling to. With very few exceptions, my horses don't leave the farm until they are paid in full.
Jan
Jan
Nathan Luszcz
Well-Known Member
ugh ugh ugh... why do people continue to accept payments?
Because there are plenty of buyers out there who are trust worthy and make their payments. I'm very thankful for the sellers that have let me purchase with payments. I'm sorry that there are those that have not followed through on their agreements.
chandab
Well-Known Member
I don't know that accepting payments is as big of a problem as letting the horse go before the last payment is made. If the horse is still on the seller's property, and the buyer quits making payments, not such a big deal, as you are still in possession of said horse.
rabbitsfizz
Well-Known Member
I am always happy to accept instalments, and will even keep the horse for free while they are being made, but NO horse ever leaves my place again without payment.
Fool me once........
Friends are the worst at this, and you lose not only the horse but a friendship as well, so it is doubly not worth the risk.
Fool me once........
Friends are the worst at this, and you lose not only the horse but a friendship as well, so it is doubly not worth the risk.
Havent read all the posts here, but do you have a contract and what does it say? Due to problems I had with a person years ago and was going to make a run clear to Kansas to pick up the horse (which I found out later she had already sold to someone else!) I now write in my sales contracts on payments to cover myself in case I need to do that.
I have accepted payments on plenty of horses and MOST of them have paid on time, if not EARLY.
I have accepted payments on plenty of horses and MOST of them have paid on time, if not EARLY.
Last edited by a moderator:
txminipinto
Well-Known Member
- Joined
- Dec 11, 2002
- Messages
- 2,749
- Reaction score
- 1
Everyone eventually gets burned by this because 1) you are too trusting or 2) you really need to move a mouth. From experience, horses and papers do not leave my property until paid in full. No exceptions. Burned once, won't be burned again!
I was very lucky once when I bought my stallion on payments. The seller even trusted me to come get him 1/2 way through my payments from a different state as well BUT did'nt give me his reg papers. Totally fine with me cause my honesty is what matters more. She took small monthly payments for over a yr till I had him just about paid off. Then to my surprise, the seller sent his paperwork to me, waved the retained stud fees and what was still owed and said "enjoy him!"
To this day I still cant believe she trusted me since I was just a buyer BUT am so very greatful she did.
I always look at it this way, I would'nt want to be screwed over by anyone so I would never do the same. However, I did reciently run into a legal matter over the ownership of one of my horses a few months back that almost went to court. I cant discuss it here But it did however blow over for now and hopefully put behind me. I can say because of that situation, I have learned a huge lesson and to make sure you fill out any paperwork needed!!! And never trust no one NO MATTER what the aggreement is. Put it on paper to save your butt and lots of stress.
Good Luck Pamala and hopefully theres a bright light for you at the end of the tunnel!
To this day I still cant believe she trusted me since I was just a buyer BUT am so very greatful she did.
I always look at it this way, I would'nt want to be screwed over by anyone so I would never do the same. However, I did reciently run into a legal matter over the ownership of one of my horses a few months back that almost went to court. I cant discuss it here But it did however blow over for now and hopefully put behind me. I can say because of that situation, I have learned a huge lesson and to make sure you fill out any paperwork needed!!! And never trust no one NO MATTER what the aggreement is. Put it on paper to save your butt and lots of stress.
Good Luck Pamala and hopefully theres a bright light for you at the end of the tunnel!
Last edited by a moderator:
Equuisize
Well-Known Member
We sold a very fit and athletic Polish Arab reining horse and
upon repossession picked up a rack of bones, in a few months time.
Tough lesson for us and especially for the horse.
Whistled him up, put a halter on him and he ran to the trailer
to come back home.
I was horribly allergic to this particular horse but we waited
2 years before we sold him, to a friend of a friend.
To this day he is happy, healthy and training a lot of little
kids in endurance riding and 4H, in his older age.
Much better outcome.
It's hard not to want to trust when people look you in the eye
and tell you what a wonderful life a horse will live with them.
Hope this works out well for you and the gal comes thru on her
new payment plan.
upon repossession picked up a rack of bones, in a few months time.
Tough lesson for us and especially for the horse.
Whistled him up, put a halter on him and he ran to the trailer
to come back home.
I was horribly allergic to this particular horse but we waited
2 years before we sold him, to a friend of a friend.
To this day he is happy, healthy and training a lot of little
kids in endurance riding and 4H, in his older age.
Much better outcome.
It's hard not to want to trust when people look you in the eye
and tell you what a wonderful life a horse will live with them.
Hope this works out well for you and the gal comes thru on her
new payment plan.
Last edited by a moderator:
Shari
Well-Known Member
If they have not paid for the horse in full and refusing to make payments, and you have the paper trail. Like any other seller,, say of Cars or what ever, they/you have a right to repo your animals for refusing to pay for the products/horses.
Have I gone through something like this, yes Twice. Both times in Canada.
Only one got resolved because of someone of considerable influence helped me out.
Other.. I lost out of $5,000.
I will no longer take payments because of these two horrible experiences.
Have I gone through something like this, yes Twice. Both times in Canada.
Only one got resolved because of someone of considerable influence helped me out.
Other.. I lost out of $5,000.
I will no longer take payments because of these two horrible experiences.
Last edited by a moderator:
Im another mug in the same situation, its been almost three years and ive had less than a quarter of his price , she doesnt answer phone calls or emails and ignores all letters ...and Ive lost a "friend"
Field-of-Dreams
Well-Known Member
Ww did repo one horse who was on a free lease. We had gone over her house to pick some paperwork up, and went to the back to see the horses. They were skin and bone. We immediately went home and got the trailer. Took the guy right off the property and left.
iowa
Well-Known Member
I got stuck once with someone owing a fairly small amount on the horse which did not make it worthwhile to pursue. But I will never let a horse leave the place without full payment again. I think if the people can't get a loan at the bank for the horse, why should I become their banker? Why don't people go get a loan at a bank? I know this doesn't apply to everyone, but a small minority ruin it for everyone else.
Last edited by a moderator:
iowa
Well-Known Member
Is Lizard Lick a real town? What a unique name!I heard of a big guy in Lizard Lick that does repossessions, what his contact info LOL.
Michelle@wescofarms
Well-Known Member
I have and do sell horses on payment plans, my one caveat with buyers, please don't make me play collection agent. I hate that.
I've been considering the payments, but horse doesn't leave policy as I'm sick of the no paying/singing the blues/no paying, etc., and then having to get the horse back, not in the best of care. Too many rescues last year.
I have bought on payments (years ago), but now if I can't afford it I don't buy.
I do like what Jean did, if they're going to mess around out of state, then give them back some of the same. Good for you Jean!
I've been considering the payments, but horse doesn't leave policy as I'm sick of the no paying/singing the blues/no paying, etc., and then having to get the horse back, not in the best of care. Too many rescues last year.
I have bought on payments (years ago), but now if I can't afford it I don't buy.
I do like what Jean did, if they're going to mess around out of state, then give them back some of the same. Good for you Jean!
chandab
Well-Known Member
Don't know if its a town, but it is the name of the towing company; they have a TV show on TruTV channel (it happens to be on right now).
Similar threads
