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15-06-2012, 11:32   #106
Juniorhurler
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Originally Posted by Grecco View Post
How are farmers financing these land purchases?? I`d say they must have to stump up at least 30% of the purchase price and the banks lend the rest. Anyone get to borrow any money for land this year???
Last year. 30% deposit required and then a lot of begging and praying. Also had to pay the banks legal fees.
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15-06-2012, 11:46   #107
Tipp Man
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Originally Posted by Grecco View Post
How are farmers financing these land purchases?? I`d say they must have to stump up at least 30% of the purchase price and the banks lend the rest. Anyone get to borrow any money for land this year???
Yep had a large deposit - no problems - options from a few banks
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15-06-2012, 12:15   #108
Dont be daft
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Have handled applications to banks with only 10% deposits available. All failed. Those with 30% deposits were only allowed go to a certain price per acre. All very profitable and capable farmers.

Any land that was sold around me lately has made well above that price per acre. Only conclusion I can draw from that is that these farms are being bought with very little financing (boom time money/motorway money) or being financed through incomes outside farming.
Two biggest farms were bought by investors and immediately leased on long term agreements.
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15-06-2012, 12:21   #109
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[Quote=johnpawl

Any chance of a bit more info on the lads that went to Ukraine, curiousity's killing me[/Quote]
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