60ac the far side of the ditch for sale, are you on?

simx

Hi lads just said I’d start a thread for the Craic see the vibes

Typically land in the area makes 8-10k/ac next thing there’s a for sale sign next door for 60ac in one lot.... would ya be interested? Are you too tight on the belt already? Bank would look for 30% deposit typically... would you sell an outblock?.... if it happened me I may approach a neighbour see could it be bought between two maybe although to get half the money mightn’t n as clear cut as thought.... n.b there is no land bounding me for sale

dzer2

Land beside me.went for sale few yrs back. Had all finances in place the owner wouldn't sell to a local. Ended up taking a lot less than I was willing to offer. Still have wherewithal to buy some but nothing close by has come up since

simx

dzer2 wrote: »

Land beside me.went for sale few yrs back. Had all finances in place the owner wouldn't sell to a local. Ended up taking a lot less than I was willing to offer. Still have wherewithal to buy some but nothing close by has come up since

He was a begrudging hoor

Tileman

dzer2 wrote: »

Land beside me.went for sale few yrs back. Had all finances in place the owner wouldn't sell to a local. Ended up taking a lot less than I was willing to offer. Still have wherewithal to buy some but nothing close by has come up since

Why didn’t you get a friend relation to buy on your behalf

Mooooo

What will it bring to you and your business? That's what you have you look at initially anyway

Who2

Mooooo wrote: »

What will it bring to you and your business? That's what you have you look at initially anyway

It doesn’t have to make sense.🙈
It would be hard to let it pass if it did come up but as always it would be at a price. There’s no point putting yourself under pressure for years unless you get something out of it.

tractorporn

simx wrote: »

Hi lads just said I’d start a thread for the Craic see the vibes

Typically land in the area makes 8-10k/ac next thing there’s a for sale sign next door for 60ac in one lot.... would ya be interested? Are you too tight on the belt already? Bank would look for 30% deposit typically... would you sell an outblock?.... if it happened me I may approach a neighbour see could it be bought between two maybe although to get half the money mightn’t n as clear cut as thought.... n.b there is no land bounding me for sale

Have 3 outfarms here and will sell them in a heartbeat if something comes up next door to home, which is a good possibility in the next few years. Lads with all their land in a block dont know the comfort they have.

whelan2

Who2 wrote: »

It doesn’t have to make sense.🙈
It would be hard to let it pass if it did come up but as always it would be at a price. There’s no point putting yourself under pressure for years unless you get something out of it.

Was 33 acres for sale beside me in 2009. I was the highest bidder but the sale never went through. Delighted it didn't as I would have put myself under serious pressure to pay it back

_Brian

whelan2 wrote: »

Was 33 acres for sale beside me in 2009. I was the highest bidder but the sale never went through. Delighted it didn't as I would have put myself under serious pressure to pay it back

Would you go on it now if it was for sale again ?

whelan2

_Brian wrote: »

Would you go on it now if it was for sale again ?

It went for sale again and I didn't buy it.

visatorro

tractorporn wrote: »

Have 3 outfarms here and will sell them in a heartbeat if something comes up next door to home, which is a good possibility in the next few years. Lads with all their land in a block dont know the comfort they have.

I'd be the same way of thinking but whether land will ever come up is another thing

mahoney_j

dzer2 wrote: »

Land beside me.went for sale few yrs back. Had all finances in place the owner wouldn't sell to a local. Ended up taking a lot less than I was willing to offer. Still have wherewithal to buy some but nothing close by has come up since

I’d of kept stum and got a solicitor to act and bid on my behalf and if anyone asked was I interested naghh none too dear

mahoney_j

tractorporn wrote: »

Have 3 outfarms here and will sell them in a heartbeat if something comes up next door to home, which is a good possibility in the next few years. Lads with all their land in a block dont know the comfort they have.

100% agree and I’d do exactly the same having all or most of land in one block would be a dream

Markcheese

mahoney_j wrote: »

I’d of kept stum and got a solicitor to act and bid on my behalf and if anyone asked was I interested naghh none too dear

I've a picture in my head of having to bid against yourself just to keep up the illusion...

Nekarsulm

Fifteen acres beside me that is another lads "out farm"
If it ever came up I might try it.
Buying it would extinguish a "right of way" he has, and I could put a gate at the road.
Poorish land though.

Still waters

A yoke around my neck for years to come, no thanks

kollegeknight

20acres came up for sale beside me- tried buying it with a neighbour but we wouldn’t go to the 85k they wanted so a lad with loads of money from the turbines bought it.

It had no entitlements, couldn’t be planted and poor land. So it would never pay for itself in my lifetime and if brexit went wrong.

Also if I wanted to pay for it myself, my oh would prob not get to Oz again in her parents lifetime.

Grueller

40acre block of the outfarm gone to a neighbouring farmer who approached me to buy before and in like Flynn with me for it.

Lady Haywire

Went to 35k on a small block next to us, poorish land but it's looking well now. Kinda regret not going more but then I'd need more sheds and meadow :pac:

memorystick

I working towards buying land somewhere.

Mooooo

Who2 wrote: »

It doesn’t have to make sense.🙈
It would be hard to let it pass if it did come up but as always it would be at a price. There’s no point putting yourself under pressure for years unless you get something out of it.

Ah shir each to their own but it helps if it can improve the situation while contributing to it's own costs. Otherwise there may, or may not, be better places to drop a couple hundred k. If it's a case of offloading outfarms I would

tanko

Suppose for arguments sake a farmer sells an out farm, 20 acres for 100K and buys 20 acres beside the home place 20 acres for 100K. What are the tax implications, is there CAT to be paid on the land bought and CGT on the land sold and if so how much are both taxes?

Cran

Bought 15 acres 6 years ago made my place all one block, best investment I ever made.

hopeso

Nekarsulm wrote: »

Fifteen acres beside me that is another lads "out farm"
If it ever came up I might try it.
Buying it would extinguish a "right of way" he has, and I could put a gate at the road.
Poorish land though.

There is often a bigger picture than simply the value of the land, or the return you'll get from it... I expect to be in a similar position myself in the coming years....

Castlekeeper

You'd want to have access to a lot of half the price of the land if wasn't going to bury you, in my book, life is short without making it too hard as well.
I can't see the value holding up long term with reducing commodity prices and CAP so I'd tread warily.

older by the day

I would buy land no prob, but my wife would put the foot down. She would say to spare it to educate the kids and enjoy our retirement than to be paying back loans,

K.G.

If you are making plenty money buy it away but if you dont have a.nice slice of it forget about it cause you wont make it after

Timmaay

50ac that we had rented beside us for the previous 10yrs cropped up for sale for under 9k/ac, this was a Yr after I took over the farm here, and I absolutely was in no position to buy it, I still annoyed myself with 10yr business plans and tried to convince myself and the banks that I could make it work. Thank god someone else quickly came in and snapped it up and put me out of my misery ha. A year later I got a different 40ac for rent on a long term lease on the other side of the farm. If the 50ac was for sale right now for the same money I would be in alot better a position to be able to afford it, but I would have to think very long and hard would I bother 2bh.

Donald Trump

tanko wrote: »

Suppose for arguments sake a farmer sells an out farm, 20 acres for 100K and buys 20 acres beside the home place 20 acres for 100K. What are the tax implications, is there CAT to be paid on the land bought and CGT on the land sold and if so how much are both taxes?

You won't pay CAT on what you buy. CAT is for inheritance



You can get stamp duty relief for consolidation which is what your example would be

Donald Trump

dzer2 wrote: »

Land beside me.went for sale few yrs back. Had all finances in place the owner wouldn't sell to a local. Ended up taking a lot less than I was willing to offer. Still have wherewithal to buy some but nothing close by has come up since

Why not sell to a local?


Old rows going back generations?

You could buy it off the new owner for more than he paid, but less than you were willing to pay and make sure the previous owner hears!

Donald Trump

How do people think land prices will go in short term? I anticipate a slowdown compared to normal on land shifting now for this "busy season". I'd say a lot that's up won't be sold unless sellers need to sell. I think things will be quiet in advance of a possible fall in prices next year depending on CAP/Brexit etc.

gozunda

40 acre block gone sale agreed when the hoor on the opposite side remembered his great grand pappy used to drive the cattle through the ditch as a shortcut. Long story short he demanded a full right of way. The cost of fighting the fecker was over and above the value and bother fighting it - so purchaser walked away. Himself and the local auctioneer came to a very amicable deal a bit later by all accounts ....

Quantum Erasure

50 acres mearning us coming up for sale in the next few months, it'd be nice to have it, but itll probably go too much...

kk.man

Donald Trump wrote: »

You won't pay CAT on what you buy. CAT is for inheritance



You can get stamp duty relief for consolidation which is what your example would be

Is there not a 9% stamp duty on the agreed price?

cjpm

kk.man wrote: »

Is there not a 9% stamp duty on the agreed price?

6%

Farney Farmer

35 acres came up for sale beside me 3 years ago. Sold 20 acre out farm to help pay for it. Best decision ever. Don’t know if would have bought it without selling the out farm though.

GrasstoMilk

Donald Trump wrote: »

How do people think land prices will go in short term? I anticipate a slowdown compared to normal on land shifting now for this "busy season". I'd say a lot that's up won't be sold unless sellers need to sell. I think things will be quiet in advance of a possible fall in prices next year depending on CAP/Brexit etc.

Land market in wexford is quite busy atm. Anything that has gone ul locally has made substantial money. 20k an acre fir a 14.5 ac field and 15k an acre for a 5ac field belonging to the same farm.
A 216ac block of land made 3.05m, bought by locals and a hotelier

Donald Trump

kk.man wrote: »

Is there not a 9% stamp duty on the agreed price?

Not for consolidation. 0% on the portion up to the amount you get for selling and 1% on the balance


https://www.revenue.ie/en/property/stamp-duty/working-out-your-stamp-duty/farm-consolidation-relief.aspx

Panch18

GrasstoMilk wrote: »

Land market in wexford is quite busy atm. Anything that has gone ul locally has made substantial money. 20k an acre fir a 14.5 ac field and 15k an acre for a 5ac field belonging to the same farm.
A 216ac block of land made 3.05m, bought by locals and a hotelier

Similar in Tipp - good land is making good money. You'd have to be willing to pay up to 20k an acre to get it and still not guaranteed to get it, although it could fall for 15k. It seems that the big stud farm in Tipp is not as active in the market at the moment - although that could change quickly again as well

RightTurnClyde

Panch18 wrote: »

Similar in Tipp - good land is making good money. You'd have to be willing to pay up to 20k an acre to get it and still not guaranteed to get it, although it could fall for 15k. It seems that the big stud farm in Tipp is not as active in the market at the moment - although that could change quickly again as well

They're just after buying a 20,000 yes 20000 acre farm in the UK for 10K an acre.

Panch18

RightTurnClyde wrote: »

They're just after buying a 20,000 yes 20000 acre farm in the UK for 10K an acre.

I take it back!!

Is that on top of that other huge estate they bought in UK was it in 2018 or 2017?

Mortelaro

GrasstoMilk wrote: »

Land market in wexford is quite busy atm. Anything that has gone ul locally has made substantial money. 20k an acre fir a 14.5 ac field and 15k an acre for a 5ac field belonging to the same farm.
A 216ac block of land made 3.05m, bought by locals and a hotelier

If the owner was between 55 and 65,the first 750 k of that is tax free and a half rate ie 16.5% on the rest
So their net of tax proceeds are about €2.7 million
You'd be a long time getting it out of farming...

Donald Trump

Mortelaro wrote: »

If the owner was between 55 and 65,the first 750 k of that is tax free and a half rate ie 16.5% on the rest
So their net of tax proceeds are about €2.7 million
You'd be a long time getting it out of farming...

Other side of that is that if you are 65 and want to pass that on to someone, they'll get stung for tax on whatever is left from that 3m when they get it if it's in cash



Pass it on as land and it'll be valued at 300k for CAT purposes.

20silkcut

Panch18 wrote: »

I take it back!!

Is that on top of that other huge estate they bought in UK was it in 2018 or 2017?

Easy do it when you get tax breaks like they get.

Donald Trump

Panch18 wrote: »

Similar in Tipp - good land is making good money. You'd have to be willing to pay up to 20k an acre to get it and still not guaranteed to get it, although it could fall for 15k. It seems that the big stud farm in Tipp is not as active in the market at the moment - although that could change quickly again as well

https://www.agriland.ie/farming-news/45ac-highly-productive-tillage-holding-sees-price-decrease-by-e7000-ac/

The holding was originally guiding at €1.25 million (€25,000/ac); however, it has seen a price reduction to €830,000 (€18,000/ac). It is for sale by private treaty.

It was only originally advertised a few weeks ago. Not like it was sitting there for months or even years. But maybe they are just trying to stimulate interest!

davidk1394

Panch18 wrote: »

Similar in Tipp - good land is making good money. You'd have to be willing to pay up to 20k an acre to get it and still not guaranteed to get it, although it could fall for 15k. It seems that the big stud farm in Tipp is not as active in the market at the moment - although that could change quickly again as well

At nothing buying ground down here. If I had money I'd buy ground in leitrim and plant it

Lady Haywire

davidk1394 wrote: »

At nothing buying ground down here. If I had money I'd buy ground in leitrim and plant it

toleratethis

10 acres in the middle of my land, know the couple all my life. Without me ever asking about it the wife offered it to me, said they were serious, husband made no objection. The next week he meets me on the road "We're not selling that".

I'd rather not have been offered it at all! I wouldn't have minded if I had gone asking and caught them on the hop.

davidk1394

Lady Haywire wrote: »

I'll plant it with deciduous trees

duffysfarm

pascal adding another bit on to that today!

cjpm wrote: »

6%

duffysfarm

40 acres of good meath land last week at auction was only making €300k with one bidder. straight sale no disputes etc. Cant understand the price as it would be in a good location and good land.
for some reason you wont see that auction result in the journal....