Question:

Payment plan for a horse??

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Somebody wants to do a payment plan for my horse who i am selling for now $800

do i write up something that she can sign?

what do i say in it?

she said she could pay $200 a week

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8 ANSWERS


  1. i would be concerned if someone can't pay $800 upfront for a horse.  What about vet/farrier/and boarding fees.


  2. I'd give that one a wide berth.  If someone can't dig up a very low purchase price, I have great concerns over their ability to meet the day to day costs of horse ownership.  Besides - are you a licensed credit broker?!  If not, you're leaving yourself open to being stung badly, and losing the horse as well as the money.

  3. I did the same when I just sold my horse. You should write up or can even find them on the internet already made where you fill in the blanks. Things you need in it. HOw much you are selling the horse for, Purchase Date, How much the down payment is, HOw much they are going to pay you each payment and when each payment is due. YOu also should include when the horse has to be paid off. I know some people do not allow them to remove the horse from your place until they are paid off. YOu both need to sign it and date it when it is signed. It is a real good idea to have someone witness you both signing it. Have the witness sign it to. Good Luck

  4. I recently bought a horse in this fashion because he had a very large price tag and there was no way known i could have afforded him all at once.  Your best bet is to write some sort of contract, with amount payable per week, and a date as to when full payment must be recieved by.  The same lady i bought my horse from had, had a bad experience with a previous horse she had let someone pay off, she only had $300 on him and it took the lady six months to pay only half, in the end she went and got her horse and kept the money she had already been paid, which i think is fair.  Because of this, the horse i was buying stayed at her house till i had finished paying for him.  I didn't object to this as he was only newly saddle trained and she had top class facilities at her place that i got to use when i came to ride him.  So i advise you to prehaps give her the option of paying him off by a certain date and keeping him at your place until she has payed for him in full.  

  5. I would be very cautious about this. Who keeps the horse until the horse is paid off? You should keep it until you get your 800.00.  What if something happens to it.  If you go ahead with this, get everything in writing, in triplicate. I agree that this person should be able to pay 800.00 up front for this horse if they are looking ahead.  Maybe this is impulse shopping and you and the horse could get hurt by it.

  6. Spell out the terms in writing, take it to a notary and both of you sign it in the notary's presence.

    If you are unsure of the language to use in the agreement, try doing an internet search, there may be some generic contract type of agreements that you can personalize.

    Definitely use the notary, though.  If there was a problem later a notarized agreement will win it in court.

    edited to add:  I did not realize that you two are long distance - she can sign with a local notary, send it to you for you to sign with a local notary, and then you provide her with a copy of the final contract signed by both of you.

  7. me and my momma had issues with this before. we bought a horse for $2,500. we paid $400 a week. the guy we were buying it from had no problems with this. he agreed and everything. but one day he decided that he wasnt getting enough money in at one time. he decides to call the cops and try and press charges!! we couldnt believe it. getting to the point, we had previously had him sign a document saying that we had to have them paid off in a certain amount of time and we had to give $400 a week no matter what. go to google or something and search for a simple contract that you both can sign. make sure it states that she will pay $200 a week no matter what. and agree on a date to where she will have the horse paid off. use a registered name on the horse and the horses ID number. (if its even registered). Have someone there to witness the signing of the contract and make them sign too. as she makes payments, give her receipts and make copies for your own records. when she completely pays off the horse, make a final receipt and KEEP A COPY FOR YOURSELF!! no matter how much you think you can trust someone, they will turn on your like the wind. just be smart about it and good luck! hope this helped you! =]

  8. I think the fact that someone can't pay $800 up front on a horse can be something of a red flag right there.  I'd understand if we were talking several thousand dollars because not everyone has that kind of money to burn, but $800 is really not that much overall.

    If I were you, I'd avoid this woman altogether, if there's someone else interested in the horse -- it's first person to pony up the cash right away.  If this is an unavoidable situation (which it shouldn't be) I'd have a notarized contract, and not allow the horse to leave the property until fully paid for.

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