Problem with buyer on final payment Any Ideas?

[k9mini2]

Hi everyone I am an infrequent visitor, I come for a while and then go for a while ...no good reason, just as time permits mostly.

I have been puzzling over just how to handle my problem and thought maybe some of you could give me some idea. I am not giving exact details, but general so as not to embarrass anyone as I don't know that the person I am having problems with might not be known to some of you.

To begin with I had a lovely foal born this last spring, I offered it for sale shortly after it was born. I had several interested people but this one person came up right away with a deposit and sent a sizable deposit.

No contract, but just balance when foal is weaned.

I sent some photos a couple of times during the summer and all seemed well, the person even once said that money could be sent any time on the balance.

Then comes August, foal is weaned, I e-mail buyer and let them know foal is now available to go to its new home. Buyer e-mails me back says finance issues can I hold foal until 1st week of September....ok no problem.

September goes by ....nothing...last week of Sept. comes and I send e-mail to buyer, no response.

I send another e-mail after AMHA nationals (thinking buyer might be there) no respones (have marked return receipt when opened) obviously never opened.

I find this persons website so I look up phone number and call. left message....no response 3 or 4 days later I call again, this time I reach buyer. Buyer says that they have been Ill over the last month with a viral problem and although better not feeling the best. Ask me to e-mail my snail mail address again.

OK sent e-mail again with address. buyer had said was waiting for an inheritance to be settled which was very sizable and check had not cleared yet. But would get something in the mail to me next week.

One week has now gone by and no word from buyer....

I do not know this person personally, but seems the person is involved with people who show and is part owner in a known show horse.... BUT I know that even though people appear to be reputable and run with the big dogs, and act like they have money does not really mean they do......

So what do you think? I could use the money and am feeding a foal that should have been gone a couple of months ago. On the other hand, I understand estate issues are settled as the courts and legal people do at their own pace. And it may be all that the buyer is telling me is true....but I am sure getting uncomfortable

 

[Jill]

I can see why you are concerned. If it were me, I think I'd tell the person if they don't pay for the horse w/in X amount of time (short period of time), that the foal will be relisted for sale and the deposit is not refunable.

From my point of view, it really puts you in a bad spot. What if something happens to the foal? You could have a big vet bill that the buyer may not pay, or the foal could die and then the buyer could act like you owe the money back on something that by all rights should have moved on to his or her new home and out of your care by now.

 

[luvmycritters]

I can see why you are concerned. If it were me, I think I'd tell the person if they don't pay for the horse w/in X amount of time (short period of time), that the foal will be relisted for sale and the deposit is not refunable.

[SIZE=10pt]I agree with Jill. I my self was in a payment situation - there was never a contract drawn up...But things seemed a-ok the whole time I was making payments. Still - there are so many "what ifs?"[/SIZE]

Lori

 

[Miniv]

It's time to put everything down in writing.

Sit down and type out the description of the foal (parentage, etc.) the deposit received and what has been agreed on verbally. State in the sales contract/agreement how and when the balance is to be paid and if the foal is not picked up by such and such date, how much the board will be. Try to be fair to her AND you.

Be sure to state that if balances are not paid by that such and such date, she forfeits ownership of the horse and it will be placed back on the market. You need dates included and follow through with it. If you don't, you just may find yourself turning away several potential owners and have that little one still standing in your pasture as a yearling or a two year old!

Oh, and if she does NOT agree to sign any agreement, send her a registered letter spelling everything out, including the fact that because she refuses to sign you are forced to STATE what your next actions will be......ie, placing the weanling back on the market and that she is forfeiting her previous payments.....etc.....

I hate to say this, but part of this was your fault for not puting anything in writing (many of us have done this), but you still have time to correct and clarify where you stand. The other part of your situation is HER fault and she seems to be taking full advantage.......for whatever reason. If her reasons are because of ill health or waiting on funds....etc..... that is not YOUR fault.

Lastly, please consider.....if she is have trouble paying off your foal, what will she do when it come time to pay a very needed vet bill, should her mini get sick or injured?

Sorry for lambasting so much at once......but there are different things to consider and I've been through much of these and had to learn lots of this on my own.

MA

 

[Bess Kelly]

Send a certified letter, return receipt, state verbal contract, amount received, amount due and when it was....mention follow ups & dates. Then state that you MUST HAVE either the balance (with shipping arrangements) or a signed agreement which meets your requirements, etc., etc., or the full deposit is forfeited, verbal agreement void and the horse will be re-sold.

Oddly this happened to me years ago. I advertised, got a call, verbal agreement, faxed a written contract, the contract was signed & returned with a large non-refundable deposit. When time came for balance in 60 days, nothing! Calls, etc., no response. I sent a certified letter, return receipt showed they got it, and allowed 30 days to pay or no sale. NO response.

To this day I own that stallion--he'll be 10 this Spring. :lol: Have never heard from buyer, appreciate the donation! Actually had other buyers at the time of sale and they bought elsewhere.

It baffles me still.

:

 

[k9mini2]

Hi all,

Yes Jill I am very uncomfortable. I keep thinking somthing seems all wrong. AND yes Miniv I agree with you I should have had this in writting. I do know better, but sometimes my good sense takes a leave...and it did this time. :no:

It sounds like good advise, I will e-mail her a contract/agreement and mark it return receipt. give her x number of days (not sure what is reasonable but will decide) Then if she doesn't respond I will send it certified.

My husband wanted me to e-mail her and tell her we expected payment within so many days or would relist her, but I was afraid, she would claim she didn't get the e-mail. so the certified letter is the best.

I would think that would hold up if it ever got down to legal stuff that I had made multipal attempts to contact her.

Thanks again, I guess I just needed some confimation that I was justified being concerned and your ideas are much appreciated. :aktion033: