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Pre-buys
Are you considering a pre-buy on a new horse? Here are some things to think about before making your decision.
A pre-buy is a term used in the horse industry to describe the process of buying a horse before it is born. The buyer enters into an agreement with the seller to purchase the horse at some point in the future, often before the horse is even conceived.
A pre-buy can be a good option for buyers who are looking for a specific horse, but aren't able to find what they are looking for in the current market. It can also be a good way to get a better price on a horse, since the buyer is paying for the horse before it is born.
There are a few things to keep in mind when considering a pre-buy. First, it is important to make sure that both the buyer and the seller are clear on what is included in the sale. The agreement should specify the breed, sex, and age of the horse, as well as any specific markings or colorings that the buyer is looking for.
It is also important to agree on a price for the horse. The price should be based on the current market value of the horse, as well as the projected costs of raising and training the horse. The buyer should also be aware of any potential medical costs that may be incurred in the future.
It is important to have a clear understanding of the seller's terms and conditions, as well. The seller may require the buyer to pick up the horse at a specific location, or may require the buyer to pay for transportation. The seller may also require the buyer to pay for the horse's registration and/or breeding fees.
Before entering into a pre-buy agreement, it is important to consult with an attorney to make sure that the agreement is fair and legal. It is also important to have a clear understanding of the risks and responsibilities involved in the sale.
If you are thinking about purchasing a horse through a pre-buy agreement, be sure to do your research and understand the risks and responsibilities involved. Talk to your attorney and make sure that you have a clear understanding of the agreement before you sign.
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