Check out the UVM Extension New Farmer Project’s latest blog post.
The post is on the in’s and out’s of Owner-Financed land sales. This type of real-estate transaction can benefit new farmers in multiple ways, including allowing for ownership of property (even if you aren’t eligible for a mortgage through traditional lending institutions) and potentially lower interest rates. These transactions can often work in favor of the original land owners too – spreading out the income made from the sale of the property over a longer period of time can lessen the tax implications of the sale. Read the post here to learn more about owner-financed purchases.