Timber sellers need to protect themselves from accident liability with contracts
By Jim Griffith

I never cease to be amazed at the problems that can arise during the sale or harvest of a timber tract. Some problems can be difficult to resolve even with detailed terms within a well-written contract. However, there is often little recourse when there is no contract at all.

Timber operations are too costly and dangerous to both you and the logger without having some written guideline for operation during a timber harvest. In my 23 years in the timber business, I have had only one fatality during the logging of one of my sales.  There is always a chance of something disastrous occurring.

Even if it is not a major catastrophe, you need to protect yourself with a timber deed.  A good timber deed will not only hold you, the seller, harmless from accidental or negligent acts of the logger or his subcontractors, but will also detail how most common problems will be handled and corrected during the normal operations of your timber harvest.

Without a contract, the seller is left open to problems being resolved out of the goodness of the buyer’s heart.  This may work with the logger you are using, but this is not a very dependable means of operating a business transaction the size of the average timber sale. If you are planning to sell your timber in the near future, you may want to take advantage of Farm Bureau’s years of developing contracts to meet the needs of timber sellers.  Contact one of our foresters at 1-800-342-1192 to assist with your next timber sale. Beware of hidden costs that sometimes accompany low mortgage rates By Jim Griffith Loan costs can be deceiving.  We have had borrowers tell us they traded for a great interest rate on their loan, only to find unexpected costs at closing. We have seen Internet lenders promote low closing costs, then add unexpected fees to the costs of the loan at the closing. At that point many borrowers are unwilling to walk away just because of the time already invested and the inconvenience of delay. On a $100,000 loan, one-eighth of one point only effects your monthly payment by  $7.  That is a small price to pay when you could be doing business with someone you know you can trust.

You will usually find Farm Bureau rates to be within an eighth of one point of any lender in the market, if not better. Our closing costs are equally as competitive as our rates. With rates and costs so similar, it is usually best to do business with someone you have learned you can depend on through the years.

For more than 60 years, it has been the goal of Georgia Farm Bureau to provide quality services and products to its members at a competitive price.  In a world of financial uncertainties, it is nice to know there is one place that remains consistent in its goals and service to its members.

If you have already applied for a loan and think it is too late to contact Farm Bureau, do not hesitate to seek our advise on your loan. We can compare your current mortgage with what you could have today and advise you of the costs and benefits in the change. If you are talking with someone else, we will be glad to review the Good Faith Estimate you have been provided detailing your closing expenses. We have seen some out-of-state lenders neglect to advise you of some charges required within our state. Some others have simply replaced closing costs with discount points, thereby hiding the real cost of the loan. Occasionally there are junk-fees added to closing costs that are simply another means of increasing fees.

Your Farm Bureau Mortgage Services is interested in what you want. We make it our goal to provide you with the best product available at a competitive price to meet your financial need. Jim Griffith is general manager of the GFB Real Estate Company and the GFB Mortgage Company.