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Central Illinois |
The purpose of the "limited time" offer is to not give the landowner time to entertain other bids. It relies on the landowner being gullible enough to think the offer won't be valid on a couple weeks. Although the way things went last year, a couple weeks might make a difference in whether a bid looks profitable for a tenant or too high.
At the elevator last fall, a farmer ( # 1 ) told me he had been offered $450 an acre and said another area farmer ( # 2 ) had been offered $500 (this offer was confirmed by fertilizer salesman but said it included grain bins and a machine shed). In July or August, I had a phone call from someone ( # 3 ) who said he been offered $400 an acre and was looking for advice (I told him it sounded pretty good, I won't go into specifics on the situation). # 2 and # 3 offers came from the same farmer , # 1 came from someone else. None of these offers came from ILFF. # 1 and 2 were declined, as far as I know #3 was accepted. I don't think those offers would be repeated today, but I could be wrong. | |
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Wait just a minute Mr. Illff
