Buying land

drive it

Around 20 acres just came up not far from me and was was wondering before going to the bank what I would need to bring with me ?
Was thinking set of accounts (not that they will empress)
What and how much stock intended to put on it
Any other info would be a big help thanks

Miname

just write down how long before yo think herslf becomes principal or head matron and all should be ok.

Genghis Cant

drive it wrote: »

Around 20 acres just came up not far from me and was was wondering before going to the bank what I would need to bring with me ?

A balaclava and a gun?:eek:

Reggie.

Genghis Cant wrote: »

A balaclava and a gun?:eek:

I can sort that out for ya

Genghis Cant

I suppose all joking aside, a business plan your accounts and bank statements.

drive it

Miname wrote: »

just write down how long before yo think herslf becomes principal or head matron and all should be ok.

Looks like I will have to stretch the truth about the laying hen lol

drive it

Genghis Cant wrote: »

A balaclava and a gun?:eek:

Tried this didn't work out to good:eek:

Reggie.

drive it wrote: »

Tried this didn't work out to good:eek:

Ah they got the wifi working in the cell did they

Timmaay

Accounts from the last 3 yrs, and if you can, likes of a 5yr business plan of how you'll meet repayments will really help also, this would want to be fairly realistic, don't put down zero drawings etc if say the farm is your only source of income! Another thing to be warned about, with the uncertainty in the SFP moving forward, the bank will base your repayment capacity on you only having 75% of your current SFP.

And no offence, but unless the block of land is used as part of a dairy milking platform, there is almost zero hope in hell of twisting the figures to be able to generate sufficient repayments off the land itself, so I hope you are coming with a decent wad of cash to the table also?

drive it

Ya someone smuggled it in, the only thing is it looks a bit sus when he has to keep putting his arse up to the window for reception

bob charles

Timmaay wrote: »

And no offence, but unless the block of land is used as part of a dairy milking platform, there is almost zero hope in hell of twisting the figures to be able to generate sufficient repayments off the land itself, so I hope you are coming with a decent wad of cash to the table also?

you dairy lads are getting awful cocky.

bob charles

drive it wrote: »

Ya someone smuggled it in, the only thing is it looks a bit sus when he has to keep putting his arse up to the window for reception

Timmaay

bob charles wrote: »

you dairy lads are getting awful cocky.

Ha, well only the top 5% (or maybe 1%) of them dairylads would be in a good enough position to borrow money for land, and I definately aint one of them, yet at least

drive it

No milk cheque here just sheep that's where I think I will fall down with them. I have a few bits put together tonight future lamb no. 150 lambs(a bit low) and a rough store lamb price of €50.will go to teagasc tomorrow to get them to work out what payments I might get

Panch18

drive it wrote: »

No milk cheque here just sheep that's where I think I will fall down with them. I have a few bits put together tonight future lamb no. 150 lambs(a bit low) and a rough store lamb price of €50.will go to teagasc tomorrow to get them to work out what payments I might get

Have you a significant off farm income to go with that?? You also need a fair deposit as well, 20% or more

kevthegaff

Im dairy lad and i had big trouble getting a loan. Repayment capacity seem to be the biggest hurdle, SFP reps help but youl prob need a guarantore and security(maps). Land prices are gona drop if banks get any worse at giving out loans

Farmer Pudsey

Land has more than likely reached its max value at present. dairy farmers and those with higher SFP are pushing price at present however dynamic will change over next 10 years. The age profile and status(a lot are bachleors) will cause a dynamic change in land ownership over the next 10-20 years.

Against that land prices internationally are increasing and agri outlook is good. However are we entering the throws of a agri boom ( similar to the dotcom boom pre 2000). The other issue is lots of farmers have no successor so I wonder is everything in play will my son be the next rancher

sawdoubters

tell them you have the contract for the 5 cent vegetables,in all the supermarkets

are you paying €10,000 an acre

gozunda

Farmer Pudsey wrote: »

Land has more than likely reached its max value at present. dairy farmers and those with higher SFP are pushing price at present however dynamic will change over next 10 years. The age profile and status(a lot are bachleors) will cause a dynamic change in land ownership over the next 10-20 years.

Against that land prices internationally are increasing and agri outlook is good. However are we entering the throws of a agri boom ( similar to the dotcom boom pre 2000). The other issue is lots of farmers have no successor so I wonder is everything in play will my son be the next rancher

Ranches is about right. Around me it's not dairy but a couple of large beef cattle producers who are fighting over every scrapeen piece of land that comes up. Even buying the old cottages with a small bit of acreage. Wouldn't say its bottomed out just yet ...

Cran

drive it wrote: »

Around 20 acres just came up not far from me and was was wondering before going to the bank what I would need to bring with me ?
Was thinking set of accounts (not that they will empress)
What and how much stock intended to put on it
Any other info would be a big help thanks

Bought some land recently so here's what I needed. Accounts for past few years, salary details (if any), changed banks so statements for past year, other debt if any, savings detail, stock numbers etc, and some sort of farm plan. Be ready for large solicitor fees, times have changed and good bit of work involved especially were other land is being used as security you will have to pick up all costs including the banks.

From what I could gather repayment capacity is top agenda at the moment, and level of security willing to give.

PANADOL

bob charles wrote: »

it would be completely astonishing if a bank would lend money to a beef farmer , given that it is a joke from a money making perpective , to the point where there is v little difference between recieving welfare from the state /eu or farm grants from the state eu its a joke but not many of the city folk know or care in short a joke. whats even more funny is the price thickos drive up the price of land !