I would comment that if he can maintain some discipline that he should escrow some money for a tough stretch to make sure the payments get made. If it is like around here people are bidding based on maximum cashflow from all enterprises both farm and non-farm. Example. 7000 acre farm makes 100 dollar per acre profit. 700,000 dollar profit less taxes to bid on a small tract of land. The operator of the 7000 acre operation is not worried about the small tract paying for itself but rather what the whole operation will generate to keep other bidders away.
Then there are the bidders that have exotic forms of financing that give them an edge. These bidders have access to money at one percent for 50 years but are limited to a purchase of what is considered a home farm. They calculate based on expected cash flow the maximum that they can pay for the farm in another attempt to out bid their competitors.
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Today's Featured Article - Uncle Cecil's Super A Lives Again - by Mike Purcell. A week or so out of most of my childhood summers was often spent with my Uncle Cecil and Aunt Sissie in the small East Texas town of Maydelle on their 80 acre farm. Some of my fondest memories of these visits are those of learning to drive a tractor at the helm of Uncle Cecil’s 1948 Farmall Super A. Uncle Cecil was the second owner of this wonderful little tractor, but it was almost as though he had adopted an infant. The original owner was a man from Minnesota who bought her from a local dea
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