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Farm Classifieds
Land, Property and Auctions
Has anyone ever heard of an agreement like this for small acreage in the UK?
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<blockquote data-quote="Ribble" data-source="post: 7071622" data-attributes="member: 148748"><p>I would caution you, that this arrangement you describe is probably a kind of futures contract, that is you're contracting now for land delivered/ promised to be purchased in the future.</p><p></p><p>There is of course the possibility that by the time you reach that point, the land price has significantly changed.</p><p></p><p>That might be good, if it goes up and you fixed a cheaper price, or could be terrible if you didn't fix it and must find a bigger lump sum than expected or otherwise lose out.</p><p></p><p>Equally, the land price might drop, and you could be contracted to buy it at a higher price than it's worth, which puts the bank in a position where they are being asked to lend on a property already in negative equity.</p><p></p><p>Generally speaking, futures contracts of any kind are a disaster waiting to happen for most people, because the economy is hard to predict.</p></blockquote><p></p>
[QUOTE="Ribble, post: 7071622, member: 148748"] I would caution you, that this arrangement you describe is probably a kind of futures contract, that is you're contracting now for land delivered/ promised to be purchased in the future. There is of course the possibility that by the time you reach that point, the land price has significantly changed. That might be good, if it goes up and you fixed a cheaper price, or could be terrible if you didn't fix it and must find a bigger lump sum than expected or otherwise lose out. Equally, the land price might drop, and you could be contracted to buy it at a higher price than it's worth, which puts the bank in a position where they are being asked to lend on a property already in negative equity. Generally speaking, futures contracts of any kind are a disaster waiting to happen for most people, because the economy is hard to predict. [/QUOTE]
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Has anyone ever heard of an agreement like this for small acreage in the UK?
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