Re: OT - Buying a farm

Posted by NDScott in CA on January 17, 2007 at 15:10:45 from (64.166.144.11):

In Reply to: OT - Buying a farm posted by Dave H (MI) on January 17, 2007 at 12:52:07:

Dave, one thing for sure is if you don't buy it you will never own it. In 2003 I bought a 800 acre farm in south west ND close to where I grew up. I have bought/fixedup/kept and sold several houses in the San Francisco area and am used to a thick stack on doccuments on each one. The farm was all different. The sales contract was one page. No title insurance was obtained, a local lawyer reviewed the deed and wrote a letter saying the sellers could sell it. I don't know what will happen if there is a problem after he is dead. I would not expect the disclosure stuff on the house one would expect on a in town deal. Around here, as far as getting the mineral rights, forget it. Make it to complicated the sellers will find a different buyer. Realitors can be very usefull but can also introduce all sorts of distrust proplems. Country lawyers can be wonderful. Perhaps John T could recomment one in your area. I question a survey, you will need that money for a 3pt tractor and bushhog. If you don't buy it you may be kicking yourself in a couple of years. good luck

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