Selling share in guest farm

[Hendrik]

Hi. I bought a run down guest farm two years ago. Had to apply for a bond. We have been renovating since, but have now run out of capital before everything is finished. (We are 90% done.). Our biggest expense has been the running cost of the farm.

Can I sell a percentage of the business/farm?

If someone buy say 10%, do I have to use this money for the farm? Or can I use some of the capital for running costs?

YOur input would be highly appreciated.

 

[Protocol]

What is a guest farm?

I have farmer friends, and I have never heard of this term.

Having to apply for a bond? What does this mean? I have never heard of this in Ireland.


You are free to sell a share of the farm, but are farmers in Ireland willing to buy a share of a farm?

 

[ClubMan]

Original poster seems to be based in South Africa.

@Hendrik, Askaboutmoney is primarily an Irish consumer finance site so if your query relates to a South African farm/transaction then you probably won't get useful feedback/advice here.