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NE Missouri | I believe you can with FSA, but it has to be purchased at their appraised value, not the value you all decide upon. That would be on a 50/45/5 loan (50% commercial lender, 45% FSA, 5% down payment). Obviously, you will have to check with your local office to make sure.
If by "FCS", you meant Farm Credit, you should be able to set whatever price you want and sell it to him. They will want to appraise it and as long as it fits in their credit criteria, you should be fine selling it to him at a discounted rate.
As someone else said, if a divorce or similar issue could take place, I would be skeptical of using this as an estate planning tool; just my two cents. | |
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Transitioning farm ground
