That's a tough spot Caleb. Got a good back-up property?
Often, the seller would carry a second mortgage to make up the difference. Or you may have a seller who doesn't mind considerably more time on the market. You thought the price was good when you offered the contract, inspections came out OK, so the only real problem is financing.
Don't worry about that $1200. Is the property worth the agreed price to you?
When we purchased our acreage it had been listed for upwards of a year, when things were generally selling briskly. It was over-priced.
But it was exactly what we wanted and we didn't have any other property to look at that was attractive to us. We agreed to pay more than what I knew market value to be, as we weren't normal buyers with other offers to make.
That was 1988, and one of the better decisions we ever made. Now worth many times what we paid. That initial 15% extra we paid really isn't important, but we had seller financing.
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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