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NE Nebraska | Your landlord likely wants a stepped up basis at his death for the sake of his heirs so he's not going to want to sell now. You could possibly get a right of first refusal to buy the land. With this, if the landlord or his estate ever decide to sell they would have to offer it to you first at an agreed upon price at the time (I.e. the average of 2 appraisals one chosen by you and 1 by him or his estate) or you would match any 3rd party offer. If you don't like the price then you walk away and they sell it elsewhere. You would need to have an attorney draw up the document and probably want to record it at courthouse. You would also probably need to pay the landlord something to establish the deal ($1000 or $5000 or $10,000 depending on the size of the deal). | |
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Looking for ideas on buying lanlords farm
