I have a situation that I haven’t had to deal with as a buyer or seller. I am sure it is a common situation with the crazy market right now and I have read past threads about such situations but wonder if there is a new normal right now?
My project pony is for sale. There has been a lot of interest and with it being a long weekend I have a nice booking for people to come see her over the next few days. How do you handle the fact that a buyer that wants a PPE may be almost a week out from getting one? No idea if many local vets will have office hours on NYE to even schedule one if buyer that comes out tomorrow or early on NYE for me to get a solid answer of PPE is scheduled for X day. How do you tell a buyer they have about 12 hours to make a decision even without a PPE so you can give ample heads up to the next buyer who is planning to come out the following day?
So far prospective buyers are not too far away and no one has explicitly said I am bringing a trailer with me. Usually I would say sure a deposit will hold but I would really like the deal done and don’t want to scare off other prospective buyers by telling them they are second, third and fourth in line. Usually it has been a week or two between serious inquiries on other horses I was selling so I didn’t feel this sort of pressure. Now with the listing going up pretty close to a time when many people have extended time off and the hot market I want to have a plan on how to handle it if the situation develops like I fear it may. I don’t want people to feel pressured into having to make a rash decision then having buyers remorse. Not that I think they would pony is lovely but horse buying can make you feel something in the moment that quickly fades if you don’t sleep on it and really look from all angles. I know this is a crap time to be shopping as a buyer but as a seller I also want to be sure I don’t get a raw deal by holding others back only to have it not pan out.
As a buyer I appreciate transparency from the seller. If you have another party coming within 12 hours, let the first party know. If you are being transparent, it’s not a pressure tactic, just the reality of the market.
The horse market for nice and sensibly priced horses right now is crazy.
You need to look at one and decide right then, no time to ask more questions, think about it, eventually get a PPE, no, money speaks and buyers for those horses are lined up behind you.
I bought a started young gelding in OK, 4 1/2 hours away, over the internet on pictures, video and what the seller promised.
I had previously trained siblings to that horse, they were nice to work with.
I had someone go pick him up next day with the money to pay for him.
Buyer called a couple hours after talking to me that, sorry, someone had driven up with cash on hand, horse was sold and gone.
The buyer was a MS horse trader of shady reputation.
Bet he talked seller out of the sold horse and paid less too.
Money under your nose always talks loud for some.
I expect the trader already had the horse sold before he got back with it.
On the other hand, we had a filly showing at a big show, she was really a wonderful one, had several people interested on her for a big price.
Some top trainer checked her over, rode her, liked her, but was not sure yet if she would fit their program and didn’t make any serious commitment.
Next trainer to look and try her bought her as he got off her.
Several days later first trainer called back about making an appointment to try her again, was told she was sold and she was very unhappy?
So were we that she was, but she had not at all committed to buying her, saying that she would think about it, little else, didn’t sound interested in buying.
We just don’t handle private sales any more if we can avoid it, buying or selling.
We send the horse to an established trainer to sell them for us, or use one to buy thru.
Is worth any commission we have to pay to handle today’s crazy horse market.
Horse markets seem to be anything goes right now, be prepared for strange things to happen.
You will have to decide how you want to sell, if giving time to first buyer to decide and PPE and come get horse, or keep showing horse and take first one to decide to just take horse as is.
Agreed that transparency is the way to go. I wouldn’t tell anyone their “place in line,” per se, but I would say that pony has X trials scheduled this weekend and might sell sans PPE. I will hold for a PPE with a deposit obligating them to buy the horse if it “passes,” but I understand why not everyone loves that—it’s certainly given me some ulcers in the past.
only bought one that others had interest in also. Paid 100% with right to reject purchase if horse failed the vet’s check. (also paid board while waiting for the vet’s check and result which was none refundable)
I missed out on two that would have been perfect for me when I was shopping. However, they were both in California and I’m in WA state so logistics were a little difficult. I should have just jumped in the truck with the trailer and hightailed it down there.
If you won’t hold the horse for a PPE, or will only do so with a nonrefundable deposit, please disclose that up front, before someone comes out to try him. “Horse has x trials this weekend. If you are interested in scheduling a PPE, that is fine with me, but I won’t be taking him off the market, and you should be aware that he may sell to someone who isn’t interested in a PPE in the mean time.” Or “Horse has x trials this weekend. If you’d like me to hold him for you while you schedule a PPE, I’ll require a non-refundable deposit of X. If you don’t put down a deposit, I’ll continue to show him and he may sell to someone who doesn’t want a PPE before yours occurs.”
To add to the above about transparency, if you define your requirements (will hold with a deposit, won’t, etc) please stick to your word.
Nothing quite like scrambling to get a vet, having been allowed 5 days to do it (seems luxurious now!) during which time seller is away for 3 days, and then the seller says she doesn’t like the vet you picked. Second vet arranges to come with a day in hand before the end of the week. Seller then tells you horse already sold. Well, I’ll never do business with you again, and I’ll be sure to let anyone who asks know how you didn’t keep your word!
You tell them that you have other prospective buyers scheduled to see the horse. That way they can put down a deposit ( credited towards purchase price or refunded if horse doesn’t pass PPE) and get a PPE scheduled if they are really interested.
If they choose to think about it then you keep the other appointments as scheduled until someone puts money down.
If you have someone put down a deposit and wanting to schedule a PPE then ( if it was me) I would contact the other potential buyers and let them know and ask if they want to be called if for some reason the potential buyer does not work out.
I would want a deposit because I feel that if money is on the line hopefully it will weed out the tire kickers or people just out to waste your time.
Make the non-refundable deposit substantial if you go that way. It should help you weed out tire kickers more easily. They have used up your open holiday selling time for other potential buyers if they back out. You should be compensated for that lost time. I hate tire kickers when I sell a horse.
This is VERY thin ice. Buyer and seller’s version of “passing PPE” could be different. I would say non-refundable deposit. It is essentially the potential buyer’s cost of keeping the horse off the market.
Well first viewing went great and we struck a deal pending her “passing” of PPE. One potential buyer had already flaked out on following up with their saying they wanted to come out and other scheduled potential buyer said to keep them posted. Now I am starting my own eye twitching search again and hope to find another decent deal so I don’t lose my behind if the market suddenly crashes. Which is only an issue if the next one doesn’t turn out to be the long term partner I am looking for.
I ALWAYS use a contract for any sale. That contract is set up so that I can drop in the terms of the deal. No signed contract then no sale.
I actually prefer a PPE as a seller. I try to represent any horse I sell as accurately as possible but that doesn’t mean I have x-ray vision. I also don’t use the term “passing” or quibble about what is and is not an acceptable PPE. If the buyer decides for ANY reason that the horse is unsuitable after the PPE, then I am fine. I do not want anyone taking a horse they do not want. This is bad for the horse. But I want the PPE because I want to know if there is anything of concern about the horse. I have had someone decline a horse because she wanted a fuller tail. You can have a non-refundable deposit, but I prefer just stating they are first in line to get the PPE done within X amount of time and if someone comes along offering the same price and NO PPE, they get to be first.
I also absolutely hate pitting buyers against each other. That is not fair. I am try to be totally transparent. And there are people I will not sell a horse to. Just recently I ended a sale because I knew the horsekeeping situation being offered was not going to work for that particular horse. There are other people who aren’t a good fit for the horse and can’t recognize. Like I said, I want the horse to fit the intended use and be successful in the new home. Putting the horse first works for me.
I admit I have never had a PPE done (as a buyer or seller) so I was under the impression that any issue the vet finds that makes a horse fail ( or raises a red flag on) a PPE is not debatable as a pass or fail depending on what the individual person thinks?
I agree it is a risk to the seller as a potential buyer may back out for any nit -picky thing but what is the answer then? Continue to show and market the horse even though a PPE is scheduled?
That doesn’t sound fair to others coming out to try the horse?
The idea of a PPE is, you call in a vet to check after you’ve decided the horse is sound to your eye, and is what you want. A PPE will say whether or not the horse has hidden issues that make him potentially unsuitable for the job you are asking him to do. So it’s not a clear pass/fail and different buyers may have different risk tolerance for small or early stage problems or long term maintenance.
So you call the other buyers and say that the buyer has put down a deposit and you will let them know if it doesn’t work out. Obviously you may not want to broadcast if the buyer backs out on PPE results!!
