This is a question we has been sent to us anonymously - your assistance would be appreciated.
Hi , we’re in the process of farm succession, and as part of the deal, we have to take a $400k loan ...... what are the options ? Also, this needs to be done soon as things are tight and my father is ready for the pension. Asset value is approximately $2.4m and they breed for the weaner market in NNSW/SQld.
The succession plan results have mostly been nutted out , was looking at getting a idea of rates and options , will check Agribusiness Brokers tho .
Any my experience with farm succession would help . Some tricky situations
Another response from a Farm Table Instagram follower @boothagri:
Legal advice from a solicitor is important - each situation here is different.
The solicitors advice was basically , sell up and move to the coast .
We have faith in the industry .
We’ve lived on a shoestring budget for the past few years as we’re trying to build numbers , only selling weaner steers at the local weaner sale. Last years sale was below average so had to do it tough . Hopefully prices will be better when it does rain .... we’re dependant on reasonable showers to keep water in paddocks , and not evaporate in the following days