My old hunting club !

[Throwback]

How much were the taxes on it a year?

 

[rstallings1979]

How much were the taxes on it a year?

On 3k acres? Probably 20k yearly...just based on what I pay...I live in the same county.

 

[rstallings1979]

There must not be much income productivity on those properties to justify it going fir that cheap

It is rural tree growing property. No ag unless you spend a good bit cleaning it up. Trees were harvested in the last 5 years on most tracts. They were replanted. It went a little less than I thought but keep in mind the buyer has to add another 10 percent to the purchase price. I was estimating 6 to 6.5 million total.

 

[antharper]

It is rural tree growing property. No ag unless you spend a good bit cleaning it up. Trees were harvested in the last 5 years on most tracts. They were replanted. It went a little less than I thought but keep in mind the buyer has to add another 10 percent to the purchase price. I was estimating 6 to 6.5 million total.

Probably 500ac of it is waste land ,10 year old clear cut river swamp , natural re growth , good for nothing but hunting

 

[jav]

We are in a similar situation on our family farm. There are four original siblings and twenty plus children now. Leaving the property to future generations becomes quite a problem. With the four of us, we split tax cost and i do the upkeep with no cost incurred. When we look at leaving the property to our kids, it becomes so diluted with that many children involved. Placing the responsibility of taxes and upkeep on someone we are selling and dividing proceeds. I believe this is a common problem families find.

 

[twoheartedale]

That's odd, Most auctions will auction the parcels then if you want to buy the whole thing or combinations of tracts you have to raise the bid by at least 10%.

Yep. I was at the auction, of course I had no intentions on buying. The current landowners (they own Zaxbys Chicken) bought it all before anybody could even bid.

 

[Son]

Recently watched an auction. Auctioned parcels. When through with that all bids were in. Auctioned the lots as a whole. Parcel buyers lost. Last word was, the auction was a NO SALE for some reason. Maybe the estate wanted more money, or there was some legal problem, outstanding loans or whatever.

 

[rstallings1979]

We are in a similar situation on our family farm. There are four original siblings and twenty plus children now. Leaving the property to future generations becomes quite a problem. With the four of us, we split tax cost and i do the upkeep with no cost incurred. When we look at leaving the property to our kids, it becomes so diluted with that many children involved. Placing the responsibility of taxes and upkeep on someone we are selling and dividing proceeds. I believe this is a common problem families find.

The family has to be close and communicating on a regular basis with that many involved. It is not easy. My wife's family farm has been in the family since the 1820s. Some of the land was purchased between 1824 and the mid 1850s. It stood at around 5K acres initially as a result of purchases and land grants as well. We have managed to keep 90% of it in the family through those generations. It took a few brothers/sisters/cousins buying other cousins out but we have agreed to give family first option. The years ahead will be even more challenging to keep it all together. 3/4 of the property is used by family members who visit the land and seem to have an attachment thank goodness. Some even have established a second residency there...including ourselves. The cousins live in various parts of the country. Most still reside around the Southeast but some live as far away as the west coast.

We currently have a cousin who owns a 300 acre tract who is very sick and she has no heirs or husband. That may be challenge considering its probably a big chunk of $$$ and it has two residences on it that we personally do not need. We have even bought out a cousin and 183 Acres back in 2016 to keep it in the family. Luckily they sold it at a fair price instead of trying to take advantage of our emotions of losing it. For the most part we communicate with each other at least once or twice a year or we see each other when we are there. It takes communication and it takes support of the idea of "keeping the land in the family". My two boys will end up with ours one day and I have constantly drilled them (even at their young age) about never selling unless its the last possible option for survival.

The common denominator in helping to keep this going is the love of the land and the outdoors. If the cousins etc do not have that in their heart then there is a good chance they will be looking to sell.

 

[Triple C]

Often times, there's hardly an option for family other than sale when situations like this occur. More often than not, too many heirs involved to try and keep it "in the family". I've still not come to terms with what will happen with my place upon my death. In many cases, it turns into a messy burden when multiple heirs are involved.

 

[furtaker]

Often times, there's hardly an option for family other than sale when situations like this occur. More often than not, too many heirs involved to try and keep it "in the family". I've still not come to terms with what will happen with my place upon my death. In many cases, it turns into a messy burden when multiple heirs are involved.

Yep, I've heard of lots of family fights regarding property and home places. It's a shame. When my grandparents passed, everything was divided equally and everybody got along. I'm grateful for that.

 

[ucfireman]

Recently watched an auction. Auctioned parcels. When through with that all bids were in. Auctioned the lots as a whole. Parcel buyers lost. Last word was, the auction was a NO SALE for some reason. Maybe the estate wanted more money, or there was some legal problem, outstanding loans or whatever.

Not all auctions are either absolute or sell. The owners usually retain the right to refuse if the auction doesn't bring enough or what they want.
I lost a winning bid on 20 ac and a nice pond because the total wasn't high enough. ****es you off when it happens to you but if I was the one selling I would not sell if it didn't bring enough.
Everyone wants the best deal.

 

[Son]

Yes, the auction wasn't an absolute sell, it was left up to the estate.

 

[davidhelmly]

Dang I hate that ant, any chance the new owner may be willing to lease back to you?

 

[antharper]

Dang I hate that ant, any chance the new owner may be willing to lease back to you?

Looks like it , it was divided up pretty good . But I think a few of the oldest members may have a chance to lease some of it . And my dads been a member a while , this next hunting season 40years

 

[Throwback]

We are in a similar situation on our family farm. There are four original siblings and twenty plus children now. Leaving the property to future generations becomes quite a problem. With the four of us, we split tax cost and i do the upkeep with no cost incurred. When we look at leaving the property to our kids, it becomes so diluted with that many children involved. Placing the responsibility of taxes and upkeep on someone we are selling and dividing proceeds. I believe this is a common problem families find.

Yep. parents mean well but they don’t think it out to its logical conclusion over a period of years.