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

simx · 06-10-2019 11:44AM #1

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 · 06-10-2019 11:49AM

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 · 06-10-2019 11:51AM

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 · 06-10-2019 11:54AM

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 · 06-10-2019 11:57AM

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

Who2 · 06-10-2019 12:04PM

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 · 06-10-2019 12:48PM

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 · 06-10-2019 12:59PM

Who2 wrote: »

It doesn’t have to make sense.ðŸ™ˆ
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 · 06-10-2019 01:10PM

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 · 06-10-2019 01:23PM

_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 · 06-10-2019 01:38PM

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 · 06-10-2019 03:15PM

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 · 06-10-2019 03:16PM

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 · 06-10-2019 04:00PM

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 · 06-10-2019 04:34PM

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 · 06-10-2019 04:40PM

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

kollegeknight · 06-10-2019 05:43PM

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 · 06-10-2019 06:24PM

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 · 06-10-2019 06:36PM

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 · 06-10-2019 07:01PM

I working towards buying land somewhere.

Mooooo · 06-10-2019 07:39PM

Who2 wrote: »

It doesn’t have to make sense.ðŸ™ˆ
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 · 06-10-2019 07:51PM

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 · 06-10-2019 07:55PM

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

hopeso · 06-10-2019 10:33PM

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 · 06-10-2019 10:48PM

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 · 06-10-2019 11:07PM

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. · 06-10-2019 11:37PM

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 · 08-10-2019 12:55AM

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 · 08-10-2019 01:13AM

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 · 08-10-2019 01:14AM

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 · 08-10-2019 01:17AM

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.

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

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