Do I Need a Bill of Sale?
Whether you are selling or buying a horse, it is a smart decision to execute a Bill of Sale. It stipulates where, when, and how the transaction will transpire. For the buyer, it confirms that they are now the new owner and purchased the animal for a specified price (it will also ease the process of registering the animal). For the seller, it releases any liability attached to the horse. Each party should keep a copy for their records.
How to Sell a Horse
The thought of selling a horse can seem intimidating if you don’t know where to start. Listed below are some steps that can be taken in order to help guide you through the process of selling your animal.
1. Determine Value
First things first, you are going to have to determine what the animal is worth. Pricing a horse can be complicated considering all the factors involved, there is no real definitive method. Such factors include:
- Height and Weight
- How old is the animal?
- Is it male or female?
- What is the color of its coat?
- What is the bloodline?
- Is it trained?
- Does it perform a specific skill?
- Is it in good health?
Once you have taken all these elements into consideration, you can make an educated estimation of price by comparing your horse to similar horses that have been sold or that are still currently for sale in the marketplace.
2. Marketing Your Horse
Now that you have decided to sell your horse and have a price in mind, it’s time to advertise your horse to the public. How can you make people aware that your horse is available for purchase? Well, there are several avenues that can be taken to promote your horse. One way to get the word across is to buy an ad in a local newspaper or magazine. Another way is to attend a horse show and network with fellow horse enthusiasts, by doing so, you may find someone looking to buy.
In today’s age, the internet is a great place to expose potential buyers to an item you would like to sell. Some popular websites that are specifically geared towards selling and buying horses are:
Some more popular websites that are not specific to the sale of horses would be:
- CraigsList.org – Find your way to the “for sale” area and post under the “farm+garden” section.
- FaceBook.com – Advertise your horse on facebook, especially if you are friends with other horse enthusiasts.
3. Creating a Post
If you decide to advertise on the internet, you are going to have to create what is called a “Post”. When creating your Post, there are some essential things you are going to want to include.
- Pictures & Videos – Buyers want to see accurate images and videos of the horse for sale. Be sure to groom the animal prior to the shoot and use a quality camera to capture photos of the animal. Take many pictures and select the best ones that you think will catch the viewer’s attention the most. A video is another way to display the horse’s abilities. Take a short video of the horse exhibiting any training or skills it may have.
- General Information – On most classified ad websites, you will be prompted to give the essential details to entice visitors to click on your ad. This typically includes:
- Posting Title – The title of the post, be sure to insert something that you think will catch a potential buyer’s attention.
- Price – Insert the number that you came up with when figuring the horse’s value.
- Location – Where is the animal located.
- Contact Information – Provide contact information that will allow interested parties to get in touch with you. You can list your name, phone number, and email address.
- Description – Provide a detailed description of the horse. Somethings you may want to include are:
- Medical History
4. Meeting with the Buyer
Once you find someone who is interested in buying the horse, you are going to want to schedule a showing. Consult with the interested party on where and when the meeting will take place. When you meet, the buyer will typically want to look over the horse and potentially give it a test run. If the buyer is satisfied with the animal, it will be time to negotiate the terms of the sale. They may try to offer a lower number than the original asking price, if so, you may accept or return with a counteroffer. Once you have agreed on a price, form of payment, and overall exchange, you are going to want to start the paperwork.
5. Executing the Bill of Sale
Be sure to collect all the paperwork concerning the horse (registration, vet records, DNA results, etc.) and deliver them to the new owner. Now each party should be supplied with a copy of the Bill of Sale to be completed and signed. Follow the instructions below:
Step 1 – Download in Adobe PDF.
Step 2 – Seller & Buyer Information – The first section requires that the participants involved provide:
- Seller’s Name
- Seller’s Address
- Buyer’s Name
- Buyer’s Address
- The date on which the transaction is taking place.
Step 3 – Horse Description – Enter the following specifics regarding the horse:
- Name of Horse
- Breed of Horse
- Sex of Horse
- Age or DOB (Date of Birth)
- Registration Number
- Purchase Price
Step 4 – Signatures – The final section demands the following:
- Buyer’s Signature
- Seller’s Signature
- Agent’s Signature (only if a horse broker took part in the transaction)
Once the Bill of Sale has been completed and a payment has occurred, the horse may be transferred to its new owner and the transaction is finalized.