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You can still sell them back from their control panel, yes. You can also put them up for 24 hours in the auction, also from their control panel.

So if I sell them back to the game for 1000 hbs, those create points they have won't count towards the limits I have?

"So if I sell them back to the game for 1000 hbs, those create points they have won't count towards the limits I have?"

Correct.

Read the text when you create a horse. It tells you all about the points with that horse. and how many you have created total. I think you get 60k points total before the game shuts you off from points. That includes everything you sold to other players. So selling back to the game and taking the income hit instead of selling to other players can be a good strat.