|
Tractor Talk Discussion Board |
Re: OT - Buying a farm
[ Expand ] [ View Replies ] [ Add a Reply ] [ Return to Forum ]
Posted by DMont on January 17, 2007 at 15:59:40 from (72.24.77.157):
In Reply to: OT - Buying a farm posted by Dave H (MI) on January 17, 2007 at 12:52:07:
I"m sure you will enjoy when your purchase is complete, but until then, it can be no fun. Here are some things I learned:
1. Certainly draw up a contingency contract with the seller. Make sure to list everything you will need done to the property at the purchase.
2.Talk to the lending agency as they will know the value of land in the area. Bank presidents or officers may help here. I saved 50 thousand on 100 acres by this move.
3.Most lending agencies require surveys. Farm Credit in Ok required the survey. Adverse possesion was mentioned, Ok will not make an adjoining neighbor move fences, if they have been there for a long time. Their fences could be on your property 10 feet or more and your are buying that property. They also handled the closing. They will make sure everything is okay with deeds, and etc. as it protects them. An attorney can also perform this task, but he may be a friend of the seller and guess who he will represent behind your back.
4. If there are substantial things to be completed at the sale by the seller ask for 5 to 10 thousand to be held back to ensure that the task are performed. The seller will not object unless he intends to welch on something.
5. The lender should require a EPA inspection to protect you. Buried tanks that were used for fuel and propane are possible problems. Soil can be contaminated and be very expensive.
Hope that I have been of help. Good luck
Don
Replies:
Home
| Forums
| Order Support
Today's Featured Article -
Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
... [Read Article]
Latest Ad:
For sale Farmall super A tractor is complete and has just been setting for awhile,it was running when pulled out of the barn,shouldn’t take to much to get it going asking 1100.00
[More Ads]
Copyright © 1997-2026 Yesterday's Tractor Co.
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V. Yesterday's Tractors - Antique Tractor HeadquartersWebsite Accessibility Policy |
|
