I have a gal coming next weekend to try my gelding, driving 5-6hrs and really seems pretty keen on him - the plan is if she gets along with him he’ll go home with her.  She’s been fabulous so far so I don’t have any trust issues - but it’s not a couple grand either.

ive never sold one for this much let alone on a weekend with banks closed.  How do you handle the $?  Personal check and hold papers until it clears?   Cashiers check?  It would be an uncomfortable amount of cash IMO to ask for, 5 figures.

my husbands sold several and never been burned - but we’re all familiar with the horror stories and I just want everyone protected.

 Cash only.  If not then cashiers check or money order.  But horse does not leave your place till they clear. 

If not cash then Cashier's checks are drawn against a bank and guaranteed by the bank. 

cash

I would accept cashiers check and hold papers until it clears your bank. Plus have a written sales agreement.

I would say cash or cashiers check. However, I have written a check before and the owners held the papers until the personal check cleared. I would just be sure to have a sale agreement wrote up incase the horse were to get hurt on the way home then they cannot come back on you.

Thanks guys, she’s discussing cash with her bank.  She’s been a model buyer so far, I couldn’t be more pleased.

feels strange to be selling the good one though!  

There’s no way I would allow someone to buy a 5 figure horse with out, at the very minimum, an insurance exam or some type  of PPE. You haul the horse to the PPE and do the transaction at the vet’s place. Cashier’s check is fine as long as you call the bank the check is written on to verify it’s not counterfeit.

Cash only.... anyone can take a horse and disappear to the wind. and cashiers checks can be fraudulent.

OR if she's willing do a wire transfer ahead of time and if the horse doesnt sell refund her money.

OR use paypal. only down side is the fees. but it MAY offer protection. just some ideas. 

but i deal in cash only in person. so thats my thoughts.

We’ve sold several, no problems with the buyer wanting to vet check, but buyers choice.

i certainly would, but I’m not the buyer.  Sale contract states as is.

Cash only.

She can bring the cash with her, and if she decides to pass on the horse, she takes her cash back to her bank.

If the buyer doesn’t want a PPE, in

your contract I’d add “buyer waives option to have a PPE done”, along with “as is”.

It does ;-) 

Cash or cashiers check.

Have a bill of sale ready to go. 

I would do a cash only sale.  In the event she takes the horse and a cashiers cheque or money order bounced having the papers doesn't do much. You can't go on their property and retrieve the horse, it's a civil matter and you'd still have to go to court to get the horse back.

If she's a serious buyer there are a couple of options:

• She can send you e-transfers. There may be daily maximum sending amount so it's best done over the next few days.  If she takes the horse she provides you with the password to deposit them before she leaves.
• The buyer can bring cash - if it doesn't work it can be redeposited
• The buyer can send PayPal transfer using family/friend money.  I also believe there is a daily limit on this so something that would need to be checked.

I would suggest chatting with her beforehand about what her plans are if she likes the horse.  This way you are both on the same page before she gets there.  

I think I'd want to speak with her bank, if possible and if they can verify the funds/check# is legit, I'd take a check. She should be able to have that done easily on a Friday. And I'd write up a contract saying they opted not to have a PPE. You cant force someone to do one. But youd think theyd want one if spending that kind of money. I remember when we purchased my hubby's rope horse it was quite a bit of money and our banker spoke to the seller saying we did have the funds and the check# was covered for xx amount. Since we were picking up the horse on a Sunday. 

This... have her get a cashier's check and then call then bank (with you looking up the phone number) and verifying the check number and amount.  Cashier's checks are guarenteed funds as long as you can verify it is legit.

Don't trust a cashiers check. Had someone from here on BHW buy a colt from me, she canceled the BANK ACCOUNT that the cashiers check was drawn from. I was SOL.

^^^^This---cash or wire transfer.   Even cashier's check can have stop payment put on them now. Not to mention counterfeit for them or MO.   

Congratulations on the possible sale---I'm sure it's bittersweet. . . .

I have been in banking for 10 years... cashier's checks cannot have stop payments placed nor can it be voided just because an account is closed.... those checks were fraud from the very beginning if that was the situation.  Call the bank the check is issued on and verify it after she has it made with the check and account # (the account # will be an account within the bank itself set aside for checks that are issued)  if those two items check out and you can read the signature on the check then verify with who it was issued that they signed it and you will be fine.

Cash

I had someone make me a cash offer (like that was a big deal) then tried to pick the horse up on a Sunday and give me a personal check. They were offended when I laughed and sent them home without the horse.

lol you did the right thing.........if they really want the horse they will come back with cash..........sounds like a scam to me................good greif.....................................

I had a lady buy a horse from me in cash.. She traveled a long way with a large sum of cash.  I would never have asked her to do that.  It is not a safe thing to do. 

Cash is always best, but a large sum is not good to keep on you at once.  If it were me I  would ask for part of the money in cash then take a cashiers check or a wire transfer (pending on Monday) after that. 

I know that a lot of people cant be trusted, but I just can't see carrying over 10K on me at one time. 

Not to steal the thread, but check regs on the cashier check and stop payment---law changed 2 or 3 years ago.  

Cash in hand

personal check .. clears in 10 days 

cashiers check or money order ... never use this ... 30 days to clear and banks are leery of counterfeits .. 

debit card ... if you have a business and accept credit cards ... buyer can get the max amount set on her debit card for a certain date for the amount and you can transfer it to your acct with no problems.. I have done this as a buyer many times and as a seller with buyers.. never a problem. 

Temporary horse insurance may be a good idea for your own peace of mind ... 

We found a nice horse for my daughter to learn to rope on and I just left our bank, I asked about how we can do this because I dont feel like carrying that much cash around. We cant get out there till Saturday to look at him and possibly purchase. My banker told me to write a check and have the sellers call her directly and she will confirm funds and check# ... simple as that. Everyone is happy. Or I can get a cashier's check from my bank and they can still call her to verify before Saturday. 

Is this a hometown bank?  Cause it sounds like good ole timey service--which most banks don't offer anymore. . . 

And I wanted to say about the stop payment on cashier's check--Momma called today and was told that some banks will stop payment, but most will not.  She wanted me to clarify!!  (She was going by an incident that happened when she was still VP a few years back.)   

Yes ma'am! Our local small town bank. I absolutely love banking there. We are on a first name basis with both branches. We've been with them forever. We typically use them for everything we've ever needed a loan on.. horses, vehicles, trailers, tractors... they give us a great rate and I have them take payments directly from our account on a weekly basis. I dont have to think about paying more bills every month lol! We are well taken care of there and dont ever plan on banking elsewhere. It's just crazy how careful you have to be nowadays with handing anything over.. use to be as simple as a handshake or writing out a check. I got a little worried today, my hubby,  who is not paypal or anything like it, savvy... he informed me he purchased a saddle from a guy on Facebook... granted we've both spoken to this guy in the past and know he is with a certain saddlery and sells on fb all the time AND we are sending my husbands roping saddle to them to repair the tree... he just paid him over the phone. I told him to please let me handle it next time! I'd have used paypal to protect us "just in case" his response,  I'll just drive down there and whoop his a$$ if I dont get that saddle lol!!! ok ok... I rarely pay "friends and family" on paypal, if someone requests it, I'll find out the fee amount and just add it in the amount I'm sending so I'm still protected no matter what. 

 I love our local bank; they've always worked with my family however we need them to.  A lot of my clients bank there also, and I  much prefer dealing with them over the other BIG bank in town.  Unfortunately, that personal/appreciate you service is fast becoming a thing of the past around here.