DEPOSITS
A deposit is a sum of money, usually a percentage of the sale price of a puppy or a horse (miniature), to reserve that animal for future sale to the person making the deposit. A deposit makes sense because while the breeders are holding the animal for you, so they are not free to sell it to someone else. It's like guaranteeing a hotel room with a credit card, or putting an advance deposit on a car you want to buy. Deposits are a common practice in many different businesses.
Many breeders maintain verbal waiting lists and do not require deposits to hold & reserve the animal. This is a bit risky for the breeder, as they may be holding the animal for people who will buy another animal in the meantime or will change their minds without letting the breeder know. Most breeders who do this avoid problems simply by staying in close contact with those who wish to purchase their Puppy or horse.
Some breeders take advance deposits against unborn Puppies and foals. This will usually guarantee you a position on a waiting list. Some breeders only begin taking deposits on Puppies or foals once they know what they have when they are born.
However, depending on how picky you are about what you are looking for, a deposit cannot guarantee that you will get what you are looking for. The more specific your request, the more likely it is that you may need to exercise some patience to get it. A person looking for a puppy or foal of any color or gender will likely get their wishes filled faster than someone looking for a specific sex, & color.
Some breeders will refund their deposits on request. Others will only refund deposits under specific circumstances. Still others will not refund deposits at all.
Many people believe that non refundable deposits are illegal and unethical. In truth, non refundable deposits are legal and practiced by many different businesses for various reasons. It is perhaps more clear to refer to them as a "fee" that can be applied toward the purchase of an animal.
Whether non refundable deposits are ethical is a matter of personal opinion. Some breeders only do non refundable deposits because they have had a bad series of experiences with people changing their minds and ending up with older puppies or foals that might be harder to sell. Some breeders feel that if the deposit is non refundable, the people will take the sale more seriously. Please note: when you put down a non-refundable deposit it means you have comitted yourself in purchasing the said animal.
The most common type of deposit is a partially refundable deposit. This usually means that the deposit is not refundable if the potential owner changes his/her mind about wanting the Animal, but is refundable if the animal desired becomes unavailable for some reason (desired type was not born, Animal dies or becomes ill. Other breeders offer a fully refundable deposit, meaning that the deposit will be returned in full if seller changes his/her mind.
It is very important, BEFORE putting down a deposit on an animal, that you make sure you know the following information :
- if the deposit is refundable or non refundable
- if the deposit is refundable if you (they buyer) change your mind
- if the deposit is not refundable if you change your mind, what circumstances must occur to receive a refund
If this is not all available in writing, you may wish to write this information down yourself and get the breeder to sign it or agree to it in an e-mail. Keep all this information.
It goes without saying that you should always get a receipt for your deposit for the amount you actually put down. Never put down a deposit for an animal in cash. Always put down a deposit with some instrument that will create a record, such as a personal check, bank check, or credit card (ask if the breeder accepts credit cards or PayPal; more and more breeders are accepting PayPal now).
If you are mailing your deposit, send it certified mail/return receipt requested. That way you have a record of the deposit arriving safely. Make sure to include a nice note to the breeder and a polite request for a receipt.
In summary, here are the steps to a deposit without misunderstandings:
1. Clarify whether the deposit is refundable or non refundable. If it is refundable, clarify the circumstances under which the deposit can be refunded. Do not buy an animal if you are not willing to abide by the terms of the deposit agreement or think the terms are unfair.
2. If the breeder does not offer a deposit agreement in writing, create one of your own to clarify expectations and have the breeder view, agree to, and sign if possible.
3. When you pay the deposit, pay in a method that creates an outside record. If you are mailing the deposit, send it certified mail, return receipt requested to make sure it arrived at its destination safely.
Remember ... ethical, responsible breeders will not object to your desire to make things very clear between you. A breeder who gives you problems at this stage probably isn't someone you are going to want to work with. If they complain about wanting to keep the deposit agreement clear between you now, how likely are they going to be to want to help solve problems if they crop up later?
Windy Valley's Non-Refundable Deposits:
It is extremely important that you understand that all deposits are not refundable. When putting a deposit down you are accepting Windy Valley's terms and agreeing to purchase the animal. When putting down a deposit please make sure you put non-refundable deposit on your check/money order/cashiers check/paypal payment. The only reason I am addressing this..is previous customers have backed out of purchasing of the animals and are expecting the deposits to be refunded. You have to understand I am reserving this animal in your name therefore I am losing potential serious buyers..so when you back out I have lost clients that were interested. Especially for my in utero program and expecting female dogs. Because what happens is I only accept a few clients and when people put down a deposit have to turn down the others that are inquiring. So please be sure you make sure you can meet your payments and or terms of the signed agreement before putting down a deposit. Thanks!