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Nezzz, I wasn't quite sure where to ask—so I figured I’d just post it here. I recently bought some land, but the previous owner had an outstanding lien on it. Now that I’m the official owner, the title shows an active foreclosure—and the court is moving to sell the property. Can they actually sell my land like this? It isn't even my debt—it belongs to the former owner, not me.
Miky0, if I were you, I’d just go ahead and buy those one or two acres—whatever size you need for your orchard—right now. I think land goes for about 20-$10000 per acre out here, and then it's yours for good. As for financing, you should probably check in with the Farm Credit System or a major commercial bank like Chase. You might be able to snag a decent interest rate, though I'm not entirely sure what the current market looks like. It all depends on your credit score—unless, of course, Janis decides to start a small business or a farm LLC. If that happens, you'll have to deal with the whole tax system—paying monthly for Social Security, Medicare, and so on.
I mean—it's going to be quite an uphill battle to secure that land