All these land deals with little down but agreement for sale!

[SASKFARMER3]

Just got me thinking about all the Chinese land
deals that come in offer big money with little down
except a promise!
Under Saskatchewan law are they not like the real
owners since the original agreed to sell. Are they
then not like a bank holding the land. Who pays
taxes etc.
Under sask law it would take three to five years to
get the land back from these guys. Then why not
throw in your equipment, that's their next step.
Finally the original land owner lost the big price,
lost three to five years of income, lost rent etc,
had to cover the taxes and the investor walks
away under a quick settlement.
This is a scenario that seems to be taking place
on some of these out if the world land deals in
Saskatchewan. Maybe it should be seller beware!

[mcfarms]

The fact is if these farmers are dumb enough to sign without a firm closing date which states in the contract they are to see full settlement on such and such date or the deposit is given up and fill title reverts to the seller . Either they have shitty lawyers or they are fools in either case they deserve what they get.

Every other industry has in mergers and aquisitions what is known as a break clause if the deal doesn't close by certain dates. Ag is no different unless you're a fool.

Get off it and let these landowners get f*&^d if they are that stupid.

[SASKFARMER3]

Remax! Realtors etc!
Dumb lawyers!
Suckers!
Dumb farmers!
All of te above, it's marketing if thir are shifters out
their seller beware!
It's a ponize scheme, land has a market clue not
blown to sky high BS!

[SASKFARMER3]

Mc a agreement forsale Nd little cash every six
months the land owner is screwed for three to five
if they walk!

[RD414]

The Chinese would never back out of a deal just because the price of the commodity dropped, would they???

[SASKFARMER3]

Family in Calgary said their was a group who
came in bought then resold over and over and
over the land then the last guy went to a bank and
borrowed the purchase price. Guess what he
declared bankrupsy! Simple way to screw
Canadian banks!

[ALLFARMER]

RD414. LOL

Welcome to Agriville

Ya never heard of anyone getting completely
shafted by the Chinese before. Well other than
the Timothy plant I once worked at. Nice new
plant all looked good on paper.

[ColevilleH2S]

Just out of curiosity, how close to being loaded
were these boats, of Mao's canceled beans? Days,
weeks, months?

[sumdumguy]

Yep, what kind of lawyers do these sellers have?

#1, keep title in your own name until full payment
is made. #2, Closing date means payment in full.
No pay, no seed, no harvest, no nothing!

[wd9]

Saskfarmer, what a bunch of bs. A simple
purchase agreement has a closing date and
if full funds not received, money held in
trust is returned and the deal is done. Mc
is right, a fool and his money...

[SASKFARMER3]

Wd then explain why all these Chinese deals end
bad for the farmer selling?

[charliep]

How many land deals are you talking about? Do you have intimate details on the transactions or are you relying on community gossip/hearsay?

Without going into details, have been involved with people with big ideas/prices and no money commitment/down payment in land deals. Every business person needs to be able to recognize them but a management decision on their part unless you government to take a more active role in farmers land deals. Lots of conversation elsewhere to say this is not the case.

[charliep]

For what its worth, the current situation seems to have a lot in common (also big differences) with the late 1970's with the end result not much different than the early 1980's. I suspect keeping a solid balance sheet and being prepared for opportunities is the way to go although I have no answers on where to store cash. Cottonpicken will have you long gold/metals but that would be beyond my risk tolerance. Not sure that land is a good place to store money these days with the consequences of your posting a good warning sign. Not highlighting foolish decisions some people are making but rather just an observation.

[SASKFARMER3]

Charlie I sort of do since we had a agreement for
sale with the one party, but I also get the FLSB
notices and no land has traded since early April,
no one has been paid yet, other than some small
amounts. 49 quarters in our area five separate
farms. Total other sales to real farmers in the area
0. One guy from South Africa and his son that's a
keeper, their moving here and will be part of our
community.

[SASKFARMER3]

The 80s were rough and we lost every single guy
except one who bought at the high prices. Every
single one!
I personally feel a house in the USA is a way
better place to buy than land in Saskatchewan at
this time. Also farmers are starting to wake up and
say these land rents are getting out of hand for
this area.