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OT cheap way to get a little farm if you can wri

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PhilcaseinWPa

05-02-2007 08:14:21




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I often see posts by people who would like to buy a farm but can't afford it. Well this one is small, only 43.5 acres but you might be able to get it for $100. A couple in Ohio are going to give their farm to the winner of an essy contest. It costs $100 to enter the contest. They will determine the winner when they have 3000 entries. This was a cover story in 4/26/07 'Farm and Dairy' a publication out of Salem Ohio.

>Link

For details goto

Link

Don't bother to apply Allan,, you wouldn't be able to turn those big Internationals around on just 43.5 acres.

Interesting concept.

Phil

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Davis In SC

05-02-2007 20:16:01




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 Re: OT cheap way to get a little farm if you can in reply to PhilcaseinWPa, 05-02-2007 08:14:21  
I bet the IRS is going to have their hand out, to the winner... Just like the winners on game shows...



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cj3b_jeep

05-02-2007 13:15:49




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 Re: OT cheap way to get a little farm if you can in reply to PhilcaseinWPa, 05-02-2007 08:14:21  
I read that article too and I think $300,000 for that piece of land is fair for where it is. The article said they have a third party reading the essays. My wife was thinking about applying, although I don't think I'd want to live that far north in Ohio, the winters are pretty snowy on that side of the lake.



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Mike (WA)

05-02-2007 09:35:42




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 Re: OT cheap way to get a little farm if you can in reply to PhilcaseinWPa, 05-02-2007 08:14:21  
This has been done before, with 2 basic problems: Not enough entries, and possibility of the money disappearing and not available for refunds when they don't get enough entries. Make sure the money is being held by an escrow company or bank, just to be on the safe side.



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mjbrown

05-02-2007 09:52:16




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 Re: OT cheap way to get a little farm if you can in reply to Mike (WA), 05-02-2007 09:35:42  
Are they really going to read three thousand essays? I doubt it. If they get their 300k they don't care who gets the farm they'll just pick one. I'd rather just sell it to a young Amish man and know it'll be well cared for.



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Allan In NE

05-02-2007 10:03:58




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 Re: OT cheap way to get a little farm if you can in reply to mjbrown, 05-02-2007 09:52:16  
Just like skimming the cream off the top. :>)

Allan



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PhilcaseinWPa

05-02-2007 10:02:47




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 Re: OT cheap way to get a little farm if you can in reply to mjbrown, 05-02-2007 09:52:16  
Yeah I wondered that myself. And I also wondered what criteria they would use to judge the essay. Doesn't say much on the webpage. They were city folks who just moved to a 'place in the country' lived there for several years and now want to sell it but didn't think they could get their fair value just trying to sell it.
Phil



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Allan In NE

05-02-2007 09:34:53




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 Re: OT cheap way to get a little farm if you can in reply to PhilcaseinWPa, 05-02-2007 08:14:21  
Let's see,

$300K for 43 and a half acres. Oh yeah, big hearted folks. :>)

Allan



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Mike (WA)

05-02-2007 09:38:20




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 Re: OT cheap way to get a little farm if you can in reply to Allan In NE, 05-02-2007 09:34:53  
If western PA is like western WA, which I suspect it might be, you'd have the place sold by noon if the house is livable and the buildings were anything at all. Prices just went crazy around here about 3 years ago.



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PhilcaseinWPa

05-02-2007 09:52:53




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 Re: OT cheap way to get a little farm if you can in reply to Mike (WA), 05-02-2007 09:38:20  
This land is somewhere in Ohio. The owners wanted to sell but thought that the market was soft in their area. They had seen this idea used somewhere else so decided to try. Thought that $300,000 was a fair market value, thus 3000 entries at $100 each. They have only recieved about 150 entries as of the writing of the article.
Land in W. Pa is not priced nearly as crazy as land in E. PA. 100 acres down there selling for millions. Saw one post on here the other day of land in Lancaster County ~ 83 acres+/- $8,000,000.
I don't think I'll be buying that. I own 190 acres of hillside, cliff, and shale and that's enough. Maybe it will make my kids rich someday but my roots are planted here along with the Black Locust trees. This farm has been in the family about 200 years depending on how you count family.

Phil

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