Suppose a neighbor approaches you and says he has a grain bin he needs to sell because it's in the way of future expansion of his facility. He's going to revamp his entire system. You need extra storage. What kind of questions should you ask, and how can you decide if it's a deal worth taking?
This scenario already answers the first question many people would ask: Can I leave the bin there and just rent it from you? In this case, the answer is no. If you could leave it there, how many miles away is it? Is there a dryer there or will you have to dry corn at home and transport it there? What will transportation cost amount to at today's high diesel fuel prices?
Who will pay the electric bill? If you have to pay it, does it run year round, or do you only pay in the months when you actually use the bin. What does the owner expect in terms of rent charge per bushel to let you use the bin? Is it conveniently located and easily accessible, or could it get muddy and be hard to get to at certain times of the year? Does it have adequate fans- if so, are they small storage bin fans or large, aeration-ype fans?
Now assume you must remove the bin instead because the owner needs to rebuild there. How old is the bin? Will you be able to reuse the bolts? Do you have access to jacks to help take it down and put it back up a ring at a time? Do you k now of someone who could do this for you at a reasonable price? Is it too far away to try to attempt to move whole to your farm?
What does the owner want for the bin? With today's elevated prices for steel and new bins, he way still want $1.25 to $1.50 per bushel to sell it to you standing, and you have to move it. If you still think it's a good deal, how much time do you have to move it? Does the landowner need possession of the bare property for his reconstruction by a certain date?Be sure to compare total costs of removal and putting the bin back up vs. buying a new bin before you agree to the deal and buy a bin that must be moved.