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Creative leasing/buying farm land
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<blockquote data-quote="eric" data-source="post: 24261" data-attributes="member: 7"><p>how much $$ are we talking about here? That would determine what kind of earnest money / deposit you should offer. You stated that he would lease it to you until it sold outright, that tells me that he wants to sell it and not be committed to any long term financing arrangement. If you really want to buy it, you should make him a fair offer before a realtor gets ahold of it and tells him its worth some inflated price! See if you can sell some cows now and make a decent down payment, and maybe get him to tote a note of about 5 yrs max. Then you are on your own to come up with your own financing. With enough down, he might just float a note for you. But land around Springfield has got to be fairly expensive, isn't it? But then again, how many chances will you get to buy land right next door to you!</p></blockquote><p></p>
[QUOTE="eric, post: 24261, member: 7"] how much $$ are we talking about here? That would determine what kind of earnest money / deposit you should offer. You stated that he would lease it to you until it sold outright, that tells me that he wants to sell it and not be committed to any long term financing arrangement. If you really want to buy it, you should make him a fair offer before a realtor gets ahold of it and tells him its worth some inflated price! See if you can sell some cows now and make a decent down payment, and maybe get him to tote a note of about 5 yrs max. Then you are on your own to come up with your own financing. With enough down, he might just float a note for you. But land around Springfield has got to be fairly expensive, isn't it? But then again, how many chances will you get to buy land right next door to you! [/QUOTE]
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