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SW Idaho | Well when I leased it, it was an approved platted subdivision but the owner wanted to keep it in the ag tax bracket and they had other land that was further in the development process that needed completed before they moved to this place At the time things were beginning to slow and a lot of these types of lands were put on the market just in case there was a sucker out there. I don't think any were selling. Same thing happened on another piece that I know about. The developer bought the land and turned right around and listed it. Then they moved forward with the process of approval knowing far well that the chance of it selling was nil.
So at first the price was way out of range for farm land, 10's of thousands per acre. Well some how the buyer got wind that the owners were in trouble and needed to unload this place. Was told the owner is taking a 1/4 million loss, on less then 40 acres, but the selling price is a bit steep for me right now.
I thank you all for the input so far. Sounds like a borderline thing. So far I have gotten the same results asking around here. I do have soil test from before manure but not after this year which would have been the first year. I also fertilized this spring without any consideration what would be released by the manure in the first year so probably used up hardly any of the value, but with that said I am not wanting the full cost of it either. It may come down to a test but I know that with manure it is the 2nd and 3rd year that it pays off.
The buyer and I had a 2 hour talk as we are somewhat friends. Even though there is another party involved we want to remain friends especially if they buy it as we will be farming next to each other. It just comes down to this manure thing, slow release fertilizer if you will. There is no problem paying for the commercial stuff that was applied this fall. | |
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Help with what is right/wrong as a tenant
