- Location
- Welshpool Powys
Farm Vendor Finance
- Thread starter unlacedgecko
- Start date
- Location
- Montgomeryshire
You would have to have a detailed, legally binding contract, just the same as for any other financial arrangement, unless the landowner is a complete numpty.
If mainstream lenders won’t touch you to buy land, then why would a landowner, who often has that as the principal capital asset, take the risk either? Maybe for a close family member who you wanted to slowly hand the farm over to, but for anyone else would be foolhardy I would think.
- Location
- Wormingford, Essex
Well, yes. This was my thinking on it. And from a buyers point of view, would you want the seller hanging around telling you want you should do and where you are going wrong the whole time? A clean break would be better. I get the impression from the original post on Facebook that it's hoped for a less buyer seller relationship and more of a giver/receiver relationship, although I might have that wrong.
Well, if you don't ask, you definitely don't get.
Not unheard-of for there to be people who know they can't take it with them, but got no succession, or relatives they cannot abide.
If they were my circumstances, I'd consider a working couple who will not get opportunity otherwise, surely better for the industry to assist fresh blood, than the time honoured method of just adding it on to your local itinerant dealer/grazier's portfolio of semi- neglect and dilapidation.
Not unheard-of for there to be people who know they can't take it with them, but got no succession, or relatives they cannot abide.
If they were my circumstances, I'd consider a working couple who will not get opportunity otherwise, surely better for the industry to assist fresh blood, than the time honoured method of just adding it on to your local itinerant dealer/grazier's portfolio of semi- neglect and dilapidation.
Pieces_of_Eight
Member
If you can come to an agreement to buy 10 acres from someone over ten years, at £10k an acre with 20% deposit,
£20,000 up front, then £667 a month for ten years (which obviously doesn't factor in any interest/inflation over the period).
£20,000 up front, then £667 a month for ten years (which obviously doesn't factor in any interest/inflation over the period).
Wellytrack
Member
That kind of stuff reeks of the ‘long con’ to me.
- Location
- Welshpool Powys
Anyone looked up the National Farmland trust I think there was a thread about it some time ago
toquark
Member
I understand it might appear forward to some, but in today's world how else do new entrants get a chance at their own place? There are plenty sitting on places with no succession strategy beyond speaking to the estate agent. I'd rather see a young couple get a chance at somewhere than Dyson or some carbon credit shark.
Maybe I'm more sympathetic as I was in their position 10 years ago (minus the media presence).
Maybe I'm more sympathetic as I was in their position 10 years ago (minus the media presence).
I've been lucky, but many haven't and never will be.
Our industry stinks in the respect that many modern farmer's "success" still hinges on the start in life that his or her Grandfather was able to carve out and keep hold of, in the 1930s.
There is also the "I'm okay, pull the ladder up" mentality.
Our industry stinks in the respect that many modern farmer's "success" still hinges on the start in life that his or her Grandfather was able to carve out and keep hold of, in the 1930s.
There is also the "I'm okay, pull the ladder up" mentality.
- Location
- South Pennines ol14
On the same hand there’s many who wanted to farm but couldn’t so later in life managed to buy a small place then expand.
Personally I’ve worked my balls off to get from 30 acres to 160 , ( yes I know what on earth do I do after breakfast )
If my son doesn’t want it in future, I’ve told my wife I am happy to let a new starter rent the place
- Location
- Fife
To make such agreement attractive to the vendor the purchaser would have to offer better terms than a bank.If you can come to an agreement to buy 10 acres from someone over ten years, at £10k an acre with 20% deposit,
£20,000 up front, then £667 a month for ten years (which obviously doesn't factor in any interest/inflation over the period).
Iv no idea why but that post really revved me up when I seen it the other day… maybe it’s because my daddy has 300 acre in Cumbria that he won’t let me farm or because I’m in the same situation and making it work without having to go begging on Facebook which Iv seen them do a few times actually, this isn’t the first time they’ve put a post up like this….
- Location
- Fife
- Location
- Wormingford, Essex
We had a talk at ag college from a large scale farmer (who is very local to me and an absolute gent) and I shall always remember him saying 'There's no such thing as luck, you just have to make the most of any opportunities that present themselves to you'.
- Location
- South Pennines ol14
That applies to all walks of life .. no good saying what if? Many years after not taking a chance
Isnt this how share milking worked in NZ ? , but I cant see how one could do it here with lack of an economic relationship between farm income and land/property values as the general picture ?
Sorry but I find that offensive ,we rent /graze loads different types of land off lots of different types of people (we do our best within the circumstances we are confronted with ) and TBH landowners have got neglect and delapidation down to a fine art and are consistantly good at it IMO . This I find rather illogical as most( but not all) seem to spend their whole lives aiming and pay loads of fees for advice on avoiding or reducing their tax liabilty etc but dont seem to be able to understand the need for fences,gates and drainage etc even when there is a 40% grant towards the cost sometimes availiable to them .
toquark
Member
I am both landowner's agent and a tenant grazier so can see it from both points of view. From many land investors point of view, improvements such as drainage and fencing etc., hasn't really paid off in recent years, because the land value rises anyway, so they don't see the point. Equally, graziers on a seasonal lease have no incentive to invest in the land they graze which they may well lose next year. So it sometimes turns into a rape and pillage exercise from both parties. The best solution from both perspectives was for the land to be let on a 5 year FBT, that way both parties had a bit of security to invest under a very simple and transparent tenancy agreement.
I rent ground from my employer under this arrangement, new fencing & water infrastructure is covered by the landowner and I cover the maintenance, lime & fertiliser. No one makes a fortune, but the land is kept in good heart.