Loan for land

I'm sitting on 80k in cash and the way inflation is going I'm thinking of buying some land. I enquired about a 15 acre plot a few miles from me, 100k is the asking price, and asked permission from auctioneer to walk the land. Its up for sale a good while and apparently has had no bids on it according to the lad in the office. Had a look at it today and while it's good land its very very overgrown, alot of whins etc growing. But has great potential. So thinking I'll bid on it, but realistically 60k is the max I'd give for it, so like 4k an acre. Have 80k in cash, and I like the idea of a plot of ground as a project. I'm not a farmer, mid 30s public sector worker and have the house paid off. Seems like a safe enough investment. Any bidding strategy tips? Might offer 50k, half the asking price but its a cash bid and the owner might be glad to be rid of it. Had a look at the Folio on land direct and there's no charge or other burdens on the Folio.

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You can get a fellas back up by trying to be too smart. Don’t insult the man offering by offering a price for bog.

And the house ( actually an apartment) would still be the better option. 15 acres is neither here nor there. Most farmers are trying to mo e away from small lots unless they directly ajoin them

However at the same time if he is interested offering 50k is not really realistic unless you tell the auctioneer there is a bit more but you want to know what he will sell it at.

Realistically the owner will not sell probably below 80 even if that. If I was interested I bit 75 or even 80 and in the case of 80 just refuse to move further

In this scenario what auctioneer (presumably having told the seller the land is worth €100k) is going now going to tell the seller they should accept a bid of half that.

Yeah that sort of ground takes alot to get right. Try and get it over the Summer as burning of bushes banned by end of this year. Cost alot to mulch all those whins. Also spray the new ones coming up which will take a couple of years to get on top of. Grazeon 90 best.

In my opinion you could be better off with shares as by the time you look at cost of buying, stamp duty at 7%, solicitors fees, Insurance for the land etc then clear land, plough, drain reseed and spray and for a return of 3k max if rented out and prob less as rough grazing land it sounds like not alot.

Also land with an Iron pan is a disaster. HAve some myself impossible to keep it drained, did plenty of drainage on my own land, stone pipe stone, open drains etc and no use.

Still if you like the land go for it price of a fancy car no more

If you want to buy land with your money then general inflation is irrelevant. The only inflation that matters is the price of land. Although there is the other factor of availability of land you want too.

i.e. an increase of 5% in CPI is irrelevant is land slows down 5%. And vice-versa

Is anyone familiar with consolidation relief? I was looking at it a while back and on a naive reading of it, it would appear to offer a loophole to people from paying 7.5% Stamp Duty down to 1% if you were going to purchase a large block. I'd imagine though that they wouldn't allow it in practice.

At the end of the time the auctioneer will get no fee if he fails to sell it. An offer of 50k is only a bit with 3k/ acre. In general the worst of bog makes that. Forestry is 4-5/ acre at present.

An auctioneer will generally double cross anybody. I cannot the way the present market is see it selling for less than 70-80k and I be guessing above 80k.

That's so costly. Here, in India, the rate is 1224.09 euro per acre

What's driving up to that in north Wexford apart from stupidity.