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OT - Buying a farm
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Posted by Dave H (MI) on January 17, 2007 at 12:52:07 from (205.188.117.14):
Looking for advice. After prolonged and very friendly negotiations, we have come to the decision to buy a local farm with between 70-80 acres and a small house and one tiny building.
This is an unusually large piece in this part of the state. The seller wants it to remain whole and I will honor his wishes. It is and will remain leased for the next two seasons after which we will be building a little nicer home and moving to it. I will gradually take over the farming end. The small house will remain on the property as a guest house. I have family who may need it one day in a pinch. We will formalize the agreement next week and I will have 60 days for final inspections, tests, etc. What sort of things would you recommend I look at? Well and septic inspections are required here. Survey is probably not going to happen due to cost. Any traps or pitfalls to watch out for? Been saving a lot of years for this and would like to keep the experience positive.
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