Tuesday, 12 July 2011
Buying a place in the bush - the finer details!
The bush sells itself, but is nice to know I may have influence.
So, How much do you need to raise? For properties zoned as Agricultural farms (like this one) and over 25ha it becomes quite difficult to raise cash and unfortunately takes longer than a normal home loan.
So yes 90 days may be needed. But to be fair houses and stands can take that long at times as well. It all depends on how quickly we can information to the bank regarding your financials, tax, banks account statements etc.
I utilise the services of Global Fundi for financing advise and while they do not raise finance for larger farms can offer excellent advise and recommendations. They can also assist to bring finance into the country at very favourable rates. I will ask Chris to contact you, as he can explain the best options for doing so.
Kevin the seller was thrown a curve ball this morning!
He has been on a waiting list for buffalo calves because he would like them to get stuck into the long grass to reduce fire hazard. 6 became available and will cost him R16,000 each totalling R96,000. Obviously if he sells the farm he does not want to add more game to the offering and the value of this game cannot be included in the asking price. He wants to know if this will be a deal breaker. I would be a pity for him to loose such an opportunity stock is not easily available. The average auction price in 2010 for 56 auctions was R35,000 for a fully grown buffalo. They want to BOMA them on Friday and have Vets and staff lined up to do so. Let me know your thoughts?
Wish all deals were this cool!!