I must agree with Carol(Vertical Limit) and a couple of other posters, too, about the possible effects of neglect BEFORE you acquire a horse, as it indeed CAN have severe consequences...in my case, it was with a full sized buckskin QH gelding, given to my husband by my uncle-by-marriage--a lifelong and knowledgable cattle rancher, who had ALWAYS used horses, but apparently hadn't really learned CARE. This horse was always in excellent health, yet at about age 7-8, he coliced severely while we were at a little show up in Albuquerque(we lived 75 miles away in Socorro at the time)--despite calling a vet out for treatment, he again declined as the day progressed(and we'd actually been relieved that the colic occurred in ' the big city', as at the time, there was NO vet in Socorro, period!)-I called the vet back out, and he euthanized the horse as it was becoming dark(this was on a Sunday.) The vet made all the 'disposal' arrangements, but did do a necropsy, to learn...turned out, the horse had had a blood clot which travelled, and ended up blocking the main mesenteric artery, which supplies the intestines. Meant he was doomed from the first symptom; the vet also told us that the clot was almost CERTAINLY due to 'old' worm damage(I forget the type of worm; this was about 30 years ago!) WE had dewormed the horse regularly according to the best recommended practices of the time, and we ALWAYS practiced good husbandry in manure removal, etc.---turned out, the horse had apparently NEVER been dewormed before we got him, at age 3 or 4....to add to the irony--I had a buyer for the horse THAT DAY, as the Buckskin registry was just really gettting popular, people were looking for a nice kind of horse(as this horse was; my hubby just wasn't 'into' simply riding, and due to knee problems, couldn't rope anymore.)
I have placed SEVERAL horses by giving them away, in order to do the best/most I could to 'guarantee' them a safe and reliable future--to organizations, such as a Boys/Girls' Ranches in NM and CO, a local certified Therapeutic Riding program,and most recently, my 'big' Paint mare to a licensed equine rescue(because they screen carefully, and have a contract that does NOT allow resale, or breeding!- all after doing my homework about each group!), as well as to a dear friend who I KNEW provides a lifetime and wonderful home! In every case, these were USEFUL horses, worth decent and in some cases, pretty darn good, money--but because I care deeply about every one of them, the money was NOT the prime objective(and believe me, in my limited financial circumstances, it probably SHOULD be!)But, I sleep well at night...
I pretty much agree with Jill in my position about 'cheap' horses; my gut feeling is that many(no, not all, and of course there are NOTABLE exceptions--but many) who shop for and want to buy, 'cheap', often will also seem to feel that what they got 'cheap' doesn't really have much value, and therefore often, isn't treated as if it had any value--monetary or otherwise.
Early neglect, that isn't CURRENTLY happening, isn't always evident; I would want to know all I can about the REAL situation the horse is coming out of if horse shopping--it can't hurt to ask privately for personal experiences/references from others!
Margo