CRP payments

Went along to look at some land with someone the other day. The owner was walking around pointing out 'about' where the prop lines were. It had been ~40 acres of woods on a cliff, now it was down to ~15 acres, he has sold off housing.... Anyhow, his pointing was not real exact. then my friend mentioned the really close house - and the seller said how that shed & swiming pool & maybe a corner of the house were actually on this property, so he 'gave' them a bit of a corner of the land to them.... Talked a while, & it came out there was some sort of an easement for a driveway a house owner was working out with him as we were speaking for a land-locked house out back. (When we looked out there, there were _two_ houses using that driveway....) Then my friend mentioned how there sure was a nice bit of flat land, but not part of this? & the seller says well that house over there ended up being built a bit on my property so I ended up selling him that whole flat acrage a few years ago..... And the seller mentioned that the property line went to withing 25 feet - maybe 20 feet.... Later 15 feet of one of the 'landlocked' houses.....

Oh boy. Obviously the seller had carved this plot up over the years, sold off the good bits, and now wanted to get good bucks for what crumbs & odd bits were left. But, um, I sure would run away from that property, there would be all sorts of property line issues on that thing! One mistake I can see, but I believe we heard about 3 mistakes & an unresolved easement issue and a second one not even mentioned.....

--->Paul

Biggest land buyers in my area (Eastern Kansas) are guys who have never lived or worked a farm in their life. Rich guys who have lost millions in the stock market and pulled it to buy land. Even with only a 2% or 3% return of equity through rent they figure its better then 1% CDs and 10% LOSSES in the stockmarket. They are also planning to gain 5% a year in increased land prices. Thats a nice solid 7%-8% return on your investment, and its not like the land is going to dry up and blow away like their ENRON stock did. Lately anything bigger then a half section has sold this way, and the smaller tracts go to guys who have been farming for 20-30 years. I was extremely lucky I got the 40 acres bought, if it had better access somebody else would have out bid me in a heart beat.

I don't know how your attorney managed to overlook it, but a good competent attorney is like having money in the bank.

FSA I don't believe handles that part.