To qualify for a guarantee, the purchase price of the farm to be acquired through the land contract sale cannot exceed the lesser of:
$500,000 or
The current market value of the property.
A guarantee will not be issued if the appraised value of the farm is greater than $500,000.
Existing land contracts are not eligible for the Land Contract Guarantee Program.
Guarantees may not be used to establish or support a non-eligible enterprise.
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