I recently heard about a horse that used to be an all-rounder, child-proof horse that has been sitting in a field for 4-5 years. She is about 12 yrs old and the owner is older and wants to get her off his hands. He said that he would free lease the horse out indefinitely but would eventually like to sell her.
He originally was asking in the $10-15k range when she was in work/showing and said he would take $2-3k now. I do not know the man at all, but I have friends that do. They say he is pretty straight forward, but I would hate to put a ton of work into her this summer, have my kids fall in love, and have him turn around and say just kidding! Now she looks great and is $10k again.
I would prefer not buying her right out of the field because I need to be sure she is as child proof as they say she is for my 6 yr old. Also, he does not want anyone on his farm, so I would have to bring her to my place before I can even really evaluate her.
Due to all these facts, I would like to suggest a lease with option to buy contract, with a predetermined, mutually agreed upon purchase price. I was wondering if anyone has a good contract that they have used? What have you included in it? Are there any negatives to going this route? Thanks!