SAMPLE HORSE CONTRACT
**(This is our basic horse sales agreement. Your contract with us may differ slightly and/or have some different terms or conditions.)
Seller: Kathy O’ConnellReo Ranch
ANIMAL(S) PURCHASED: The Seller hereby agrees to sell and the Buyer hereby agrees to buy, upon the terms and conditions set forth, the following described horse, hereinafter referred to as "the horse".
PURCHASE PRICE: The total purchase price of the horse shall be $________ USD. A nonrefundable deposit of $_______ was paid on _______, 2015 . A payment schedule will be listed below. Horse must be paid in full by or before ________, 2016.
* Horse shall not be gelded, spayed, sold, re-homed, given away, leased out, moved out of state, and / or moved out of the country until paid in full.
____ Right of First Refusal: Seller retains right of first refusal if this horse is ever sold or re-homed. Seller will have first opportunity to adopt this horse or to buy this horse at a reasonable and non-inflated price. Price offered to Seller must be no higher in value than price offered to others.
_____ Check if Payments are being made. The balance to be made in payments according to the following schedule. Payments are due no later than the 5th of each month and must be mailed to the above address or deposited directly into a bank account or payment account unless other arrangements have been made and put in writing.
Monthly Payment TOTAL PAID YTD
(payment plan chart here.)
POSSESSION: Buyer to take possession of horse at time of initial deposit or payment. At that time buyer assumes all responsibility for the horse and buyer is to pay a monthly boarding fee of $350.00/month ( due by the 5th of each month) unless noted below.
BOARD: Board is $350.00/month and due by the 5th of each month. Foal care is free until weaning. Sale horses, unless otherwise noted, may stay here for up to 7 days with no additional charge for hay. Board includes hay only and does not include other supplements or care. Worming, trimming, turn out, blanketing, sand preventative care, vaccinations, etc. are NOT included in standard board fee and are available at additional costs.
_____ (check if reduced board). REDUCED BOARD is $150.00/month ($100.00/month for foals under 10 months) and will last until _________, 2015 - If a horse is to be boarded at a reduced rate, a late payment of either board fee, final payment, or an installment payment will nullify the reduced rate and board will immediately return to the standard fee of $350.00/month without notice.
(initial)_______* It is NOT the Seller's responsibility to notify Buyer of a late or missing payment, whether it be a for an installment payment or board payment. By signing this agreement, Buyer is stating that they are responsible enough to make payments on time every time. Fines and penalties include, but are not limited to, a 10% fine of the missed/late payment, nullifying the reduced board agreement, nullifying this contract, and the buyer loosing possession of the horse sold in this contract.
_____ ADDITIONAL TERMS:
FAILURE TO PAY: Failure to make one payment, or a late payment, or a payment that is over 30 days late, or failure to pay total purchase price by the date listed in this contract, or failure to pay 1 months board before that month is over will constitute default on the horse and the horse will be repossessed by the seller with any repossession expenses to be borne by buyer. All monies paid to seller towards horse and its care will be forfeit. Seller retains the right to repossess the horse after a single missed payment. A payment is considered 'missed' once it becomes 20 days late.
LATE PAYMENT: A payment is considered 'late' if it is NOT received by the due date listed in this contract. A late payment may result in penalties, fines, and/or loss of horse listed in this contract. A late payment is subject to a fine of 10% of the amount of payment or the maximum amount allowed in the state of California.
WARRANTY OF PEDIGREE AND REGISTRATION: Seller warrants the description stated above. Registration papers, if applicable, will be sent to the Buyer upon completion of this contract and upon full payment of the horse.
AS IS PURCHASE: Buyer accepts the horse AS IS-WITH ALL FAULTS and subject to any and all faults or defects that may now exist or subsequently appear. Buyer has the opportunity to have a veterinary examination prior to purchase at buyers expense. Seller warrants that said animal(s) are believed to be healthy, sound, and disease free to the best of their knowledge at the time of sale.
______ PRE- PURCHASE EXAM: Buyer has opted for a pre- purchase exam. Buyer has 5 days from the date listed on this contract to have this exam preformed by a vet of their
choosing. Exam must be done at Reo Ranch. If the vet finds a substantial defect that may effect the soundness or performance of the horse and the buyer wishes to opt out of purchase, seller will refund their initial deposit. If buyer fails to have exam done within the initial 5 days and/or the vet fails to find any substantial defect as mentioned above, the sale will continue and the deposit will either be put towards the total purchase price of the horse or, the deposit will be forfeit by buyer if buyer chooses to opt out of the sale.
*(initial)______ INSURANCE: We STRONGLY recommend that you purchase your own Horse insurance at your own cost to cover any loss incurred. REO Ranch is NOT responsible for any loss of use, accidents, or mortality while your horse is staying on our property. Death or injury to the horse DOES NOT nullify this contract and Buyer is still responsible for all fees and payments.
* By signing this form, I am stating that I have read this form, and understand what I have read, and agree to this purchase.
** CONTRACT MUST BE SIGNED AND RETURNED OR AGREED TO IN WRITING WITHIN THREE DAYS OF DATE BELOW. Failure or refusal to sign and/or agree to contract will cancel this sale and Buyer(s) will forfeit deposit.
Dated this day __________, 2015