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| that state that that the renter pays $200 per acre if and only if he can get financing. I'm amazed at those that think the "greedy" landowner deserves such treatment. He probably had other offers nearly as good from folks that would have paid.
I guess that is the number one reason to pick people that are well established with ample assets. Thus the guy that owns a section of prime farm land is a better risk that the guy just starting out.
So what is the solution. Earnest money at the lease signing? Cash up front before field work begins. Or aletter of credit from the operators bank?
Yes, I am looking out for the landowners. I believe in the scantity of the contract and no matter who signs one ,it ought to be honored.
BTW. I don't think a landowner getting a better offer should be able to reneg on the existing contract either. | |
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BTO crash and burns
