If you've ever wondered how challenging it is to buy a farm, buckle up and join us on a journey filled with highs, lows, and unforgettable moments.
Finding our dream farm...
Imagine discovering that the farm you've always dreamed of is finally for sale, and the life you've envisioned for years is within reach. It’s a mix of emotions that’s hard to describe—terrifying on one hand, pure joy on the other. A once-in-a-lifetime opportunity, but with a mountain of obstacles in the way.
When Prospect House Farm, a Grade II listed Georgian farmhouse, hit the market during the aftermath of the COVID pandemic, the timing couldn’t have been more daunting. Priced at a staggering figure, it seemed out of reach, especially with so many city dwellers eager to trade their urban lives for the best camping spot in Scarborough. We feared we wouldn’t make it past the first hurdle. No amount of hindsight could have prepared us for the colossal challenge of securing the finances. Raising funds felt like selling our souls, borrowing more than we ever had, with paperwork that seemed never-ending.
Prospect House Farm was a dream. Nestled in a serene valley, it offered sweeping views of Scarborough and the sea, surrounded by nothing but fields and trees—the perfect location for family outdoor camping and romantic couples’ glamping.
Our first viewing day couldn’t have been more perfect. The sun was shining, and the rose-tinted glasses weren’t necessary. We ignored the cracks, the sagging floors, the collapsing roofs—all the things surveyors would have a field day with. The house was far from perfect, but in our minds, it was everything we wanted. I could already picture myself settled on the sofa with a cup of tea, gazing out at that stunning view, imagining the possibilities for luxury glamping pods and eco-friendly camping.
Was buying a farm a hopeless dream?
Despite the glaring issues, we were completely smitten. But it soon became clear that the asking price wasn’t the only hurdle; a bidding war was inevitable. We were in love with the property but also in over our heads—giddy, overwhelmed, and underestimating the challenges ahead. What could go wrong?
Well, everything. Promises of loans fell through one after another. We were out of options and out of our league, especially when we realised who else was bidding. We felt like a lost cause, and our dreams of offering unique glamping experiences and family outdoor camping holidays seemed to be slipping away.
They say it’s not what you know but who you know. In our case, we knew the seller well, which sometimes worked in our favour, but mostly, it just added to the tension. We were constantly updated on other viewings, and everyone seemed to have deeper pockets than us. The property was being sold through an estate agent after the owner's death, so we couldn’t make a direct offer.
Finally, it was within reach...
In the midst of our despair, I stumbled upon a financial specialist online whose promises seemed too good to be true. The initial phone call felt much the same—fast-talking, filled with financial jargon, and a hefty fee to match. But something told me to take a chance. After all, in a bidding war, you need a strong leader. So, we hired him.
When I mentioned paperwork earlier, I wasn’t exaggerating. This guy pulled more numbers, figures, and ideas out of me than I thought possible. After weeks of back-and-forth, he was confident we could secure the funds. Encouraged, we made an offer at the asking price—a sum we never thought would be accepted.
Days turned into weeks with no news. A second round of viewings was scheduled, and by then, our optimism had dwindled to a faint hope. We tried every trick we could think of—appealing to the vendor, the estate agent, and even God himself. The process dragged on, filled with highs and lows, until finally, the phone call came for best and final offers.
Now what?
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