biz of any kind with relatives is tricky. As you were the one who "dug it out of the shed" he should be thankful you did. I have no idea what its worth but this is how transactions with "unknowns" with friends or relatives where i know more about the item then they do. agree what the price is if everything is in working order. List what we know isnt and what it will cost to fix. List anything we are worried about. Then come to a price we agree on. Agree to split the net profit after i get some labor IF i sell it afterwards. If i am keeping it then i expect some family goodwill. where the resentment comes from is when the seller feels the buyer who is more knowledgable took advantage. alot of effort but worth it if you want to keep on good terms with the selling relative. Full disclosure, i avoid most of my relatives! Pete
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Today's Featured Article - Good As New - by Bill Goodwin. In the summer of 1995, my father, Russ Goodwin, and I acquired the 1945 Farmall B that my grandfather used as an overseer on a farm in Waynesboro, Georgia. After my grandfather’s death in 1955, J.P. Rollins, son of the landowner, used the tractor. In the winter 1985, while in his possession the engine block cracked and was unrepairable. He had told my father
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