One thing to consider is a land contract carries a little more headache for the seller
BUT
A lot of starting young farmers have a heck of a time coming up with the full cash or loan to buy a farm early in life.
A lot of you older guys on this board b*tch about the younger guys and there need for 'instant gratification', from my eyes a lot of that is in the older generations as well.
If you just want a check and don't give a cr*p who owns it, auction it off.
If you think it would be nice to get a younger guy or family on it, contract sale it to someone who you would like to see own it.
Just an example, do 10% down to secure a little $$$. Do a 20 year payment schedule, if you don't want to wait 20 year to get all the money, do a ballon payment in 5-7 years (whenever it should have enough equity for the buyer to get bank financing)
Its a little more headache for the seller, but the money can be equal or a bit higher to an auction price.
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Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
... [Read Article]
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