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Month: March 2018

Kentucky Farm Real Estate

Posted on March 9, 2018 in Uncategorized

Kentucky farm real estate is not just for the commercial farmer. It is also for the hobby farmer. A hobby farmer is someone who operates a small farm on a part-time basis usually while working at another job. The farm may or may not be a significant source of income. But even thought the hobby farm is a smaller operation, it is still a major decision to make. Kentucky farm real estate is widely available throughout the state. It won’t be difficult to find the farm, but it is important to understand the basic rules of real estate.

Buying farm real estate is not much different than any other real estate in terms of financial procedures. Odds are you are one of the people who must obtain a loan. Selecting the property you want to buy and getting the loan are the two biggest steps. At closing, the Kentucky farm real estate becomes yours.

Closing is where the transfer of ownership papers are signed by the buyer and seller. If you borrowed money for the purchase of Kentucky farm real estate, the lender will have to set up a settlement meeting between the parties. This meeting is the “closing”. At the meeting there will be you, the seller, probably a real estate attorney, and the real estate agent. Everyone has an interest in the closing because this is the final money commitment step.

Closing on a purchase of Kentucky farm real estate will occur within 60 days after your loan has been approved. The cost of closing can be significant depending upon the value of the property being purchased. This is partly due to the cost of the real estate agent fees. If you purchase without using an agent, closing costs will be much less. But there are many risks involved in buying without professional advice so think carefully before deciding to buy and close without an agent.

At the closing on Kentucky farm real estate, you should have already researched the following information.

Title Insurance

Homeowners Insurance on farm house

Insurance on farm buildings on property

Fees charged including prorated property taxes

Legal issues related to the property such as easement rights

The Uniform Settlement Statement is a final accounting of the buyer and seller costs and the sale calculation. You will have to pay your closing costs with a certified check using your loan proceeds. Fees will include the cost of the credit report, any land inspections, escrow account fees and appraisals.

Buying Kentucky farm real estate is a great way to own a hobby farm or a large farming business. Either way it will be necessary to go through the closing meeting where all the money is accounted for in a legal statement. The closing is when you become the official owner of the new property. Owning Kentucky real estate is a great way to invest in a secure financial future. If you are planning on becoming a hobby farmer, just make sure you buy a farm that you can handle easily. Don’t try to buy something too large to handle while working another job. This will insure that when you walk out of the closing, there are no regrets – only great satisfaction.

How to Get Affordable Health Insurance in Kentucky

Posted on March 2, 2018 in Uncategorized

One common worry among parents, regardless of where they live, is that their children will become ill. This is one of the main reasons parents are always encouraging their children to eat properly, to exercise and to bundle up when it’s wet or cold outside. Ensuring that the child also has health care coverage is important and for parents who can’t afford it, this can be a heavy burden to carry. In the state of Kentucky, any parent who isn’t able to purchase health insurance for their child may qualify for coverage under the Kentucky Children’s Health Insurance Program.

For anyone who doesn’t qualify for this government sponsored program there are still ways to find affordable health insurance in Kentucky. One way that many people utilize is to take a higher deductible than the standard that is offered with the policy. A higher deductible will mean lower premiums but this is really only a viable option if the individual purchasing the policy can afford the deductible when they need to seek out care.

If you have your heart set on visiting a particular physician, you can expect to pay more for health insurance in Kentucky. Individuals who take out a plan that isn’t restrictive like this can expect to pay less for insurance. If money is an issue, it’s a good idea to choose a plan that picks your doctor for you.

Many medical services are optional and can be either included or declined when you are purchasing your health insurance policy. If you and your partner both have perfect vision, you may not need to invest the extra money in health insurance that also provides vision care for your family. If this does become an issue in the future, you can always adjust your coverage. In the meantime you’ll be able to save money.