Posted by noncompos on December 29, 2010 at 11:48:31 from (70.58.204.6):
In Reply to: Land contract terms posted by andy r on December 28, 2010 at 20:54:28:
Despite farm land generally being up nicely these days (unless you're buying) we're in what could be called uncertain economic conditions. While it may not be necessary with a family purchase, try to make it a "stand-alone" deal: one that succeeds or fails without pulling in/down your existing assets...I don't know if that's possible in your state, but it'd be nice if the new place fails to pay for itself, craters in value, you become debilitated, or for any reason the new place has to be given up/given back....Good luck.
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