|
NW Missouri | I have no idea what juice is - do you mean a buyer's premium? Far as I know, the seller pays all auction costs other than if the auctioneer has a buyer's premium. I have no problem with those as a buyer because I know how to do math. But as a seller of something as valuable as a farm, I'd damn sure try to avoid using an auctioneer that used those, unless they made up for it dollar for dollar with a lower commission.
If I was looking to avoid drama, the last thing I'd do is tell the cousins they can go bid on it at an auction like everyone else. An appraisal or two is how I'd do it. Then decide if the cousins get a family discount, or if you want full appraised price. Offer it to them at whatever price you decide, and if they want it, give them adequate time for them to line up financing, etc. If they don't want it or can't swing it, ask them if they have any investors that might want to purchase it at full appraised price to ensure they can continue to rent it. If not, then you can move forward with either listing it or having an auction, but you can feel confident that you did everything you could to give them a chance to own it or to at least keep farming it. | |
|
Selling Family Farm land DRAMA
