When buying or leasing a horse, someone to the transaction (buyer, seller, agent) goes to www.HorseClosings.com and fills out a request form (or calls 1-434-826-9270) and provides the information over the phone). The request form asks for basic information about the transaction: the price, the identity of the horse, and the people involved, and then you choose a Level 1 or Level 2 Closing. The request form is transmitted to our offices from our secure website.
HorseClosings.com coordinates the necessary documentation and details for you. First, we coordinate the transfer of funds by the buyer to our escrow account. We prepare the necessary transfer of ownership documentation, obtaining notarized signatures from buyer and seller. We can collect relevant breed and performance registry documents, have them endorsed by the seller, and send them to the buyer or even complete the recordation process with the registry upon request. We can assist in obtaining any necessary insurance and appraisal certifications. Once all the necessary documentation has been assembled and endorsed, then we prepare our copyrighted “Horse Uniform Disclosure of Information” (or “Horse HUD-I”) that shows how the money sent to us by the buyer was disbursed and to whom.
Then we send the parties all relevant information in a neatly organized package, including a Certificate of Title and documentation necessary to establish the transfer of ownership, the terms and conditions of the transaction, and a full accounting of the financials.
The parties can agree to share the cost of the closing, or either party or any agent to the transaction can pay the cost of the closing directly.
Technology Brings Us Together
Technology allows us to “split” the closing between multiple locations to accommodate difficult schedules and diverse geography. We conduct closings by gathering the documents and information we need by mail, FedEx, Fax and e-mail. Funds transfers can be handled electronically or traditionally (by check). Settlement can be completed in one business day if all parties are accessible and cooperative.
Terms and Conditions of Sale
Parties using HorseClosings.com agree to Uniform Terms And Conditions of Sale that are based on industry custom and practice. Namely:
* All sales are “AS IS” and with no warranties (except warranty of title)
* Parties agree to use binding arbitration – disputes stay out of court!
* If there is a dispute, the winning party gets their attorneys’ fees paid.
* Disputes must be raised within one year of closing. |
