I bought a farm today (attempt 2)!

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That's right - I'm buying a farm.  Again.

What I wrote in the last two posts about being firm on my price turned out to be all lies.  The current owners counter-offered my "best and final" offer (why does that keep happening to me?) with the price of $250,000.  It's high - higher than I want to go - but in the end I decided to just go for it. (After several hours of waffling and family consultation).

It's an awesome location, a really good piece of land, and I can afford it.  I didn't want to look back on my decision and worry that I made the wrong choice over $14,000.  Over 30 years of repayment - that'll feel like nothing (even though it's still a lot of money).  I was worried along that I would pay more for the property than it's worth because I felt like this was my last opportunity in the near future, and I'll admit that was a factor.  But the reality is that I'm desperate to give my dream of owning my own farm a shot and this property gives me that chance.

As far as the finances go, I need to talk with the loan officer tomorrow morning before I officially sign the contract (and sign the release contract of the Lebanon farm, losing out on being repaid the home inspection fee).  I think that I have the opportunity to borrow the full $300,000 loan I was approved for, and use the remaining amount to repair the outbuildings and purchase a tractor.  We'll see what makes sense.

Hoping there are no problems, we'll close on April 30 and I'll move in on May 1 - just as I was originally planning for the Lebanon farm.  The process will go much faster this time (the loan officer said 30 days) because I already have approved funding.  It just needs an appraisal and an inspection and we're good to go.  I hope that's not easier said than done.

I wish I could say that I'm excited.  That I somehow miraculously managed to find a comparable property and negotiate a contract in 2 weeks and I'm overjoyed and feeling extremely lucky.  But I'm not.  I'm afraid to be excited, knowing how quickly it can all fall apart.  I'm worried this farm won't work out either and the thought of all that disappointment makes me queasy.

Hopefully I'll feel more excited tomorrow after I speak with the loan agency and sign the contract.  Right now I'm stressed about all of the work that needs to be done on the loan application and all the things that could go wrong in the home inspection.  Really stressed.

I guess that finding another farm seems too good to be true.  But it's not.  I bought a farm today.

I bought a farm today.