There are to many good weanlings out there to deal with this pricing thing. If you are buying and these are your choices, walk away now and look elsewhere. If a person is breeding, and you don't have your stallion and mares DNA'd before they produce a foal and you didn't file a stallion report by Jan 15, you don't need to be breeding horses, period. If you can't take the time and money to do what a breeder should do and sell with everything in order, then don't bred at all. Its just crazy the number of people that call themselves breeders, yet sell with nothing in order, sometimes with the sire and dam not even transferred into their name. They are breeding for the money only, not to improve the breed. Then people that are new have no idea what to look for, buy these crappy horses with little or no chance of gettings papers and when it all goes to heck, they think every breeder is that way. Education is the only way to stop people from buying from these types of breeders. So before I get off my soapbox. If the price of the horse doesn't include all of the paperwork in order, don't buy the horse.
Sorry had to edit, you left out one important answer, None of the above, thats how I would vote.