Friday, March 30, 2007

creative financing

we just found out that the parcel and house that abuts (well, is right in the middle of our parcel) is going up for sale. sometime, long ago, a brother built his sister a house on his land and then the two deeds were split in subsequent generations.

we are just dying---wouldn't it be wonderful to get the whole parcel back together? wouldn't it be great to have use of the two outbuildings? wouldn't it be wonderful to now own water and power out near the fruit trees and sheep? wouldn't it be cool to rent the little house to someone interested in farming?

but then the reality of not having the finances hits. i am scrambling. there must be a way!

has anyone out there ever investigated a loan from a farm credit agency or the Farm Service Agency? i'm about to try...

1 comment:

farmer, vet and feeder of all animals said...

No to your questions-- but did you know that the bank will loan you a bit more if you are planning on renting the house? They will consider that the house will make part of the payment for you. Just remember that it might sit empty once in a while---don't get in over your head! Eek!
Monica