Land can come in many different types, depending on their use set forth by zoning laws. Some parcels of land are categorized as residential lots to be used only for housing. Others are commercial land that should be utilized for commercial purposes. Another category is agricultural land, where farmland falls under.
Depending on the type of land you are selling, there may be unique items that will be involved in any sale transaction. It’s important to be aware of these so that you can market your land properly and increase your chances of making a quick sale for a good price.
Below are the things that demand your attention if you are thinking about or are in the process of selling farmland.
1. Farmland is high in demand.
Here’s some good news for you: There is currently a very strong demand for agricultural land. More and more people are looking for farmland to invest in but there are rather a few listings available in the market. This is a big advantage for you as a seller as long as you know how to maximize it.
2. You can get a good value for your land.
The real estate market of today shows that prices for farmland are currently at their peak. Your farmland can get great offers and fetch a good price, thanks to the high demand and low availability of agricultural land, the increase in food production demand, and the nature of land as a long-term investment.
3. Estimate your price based on local market values.
While the prices for farmland are more than satisfactory, it’s still important to determine the market value of your land to come up with a good idea of how much you can expect. Compare the prices of agricultural land near your area or engage a real estate agent to help you determine the current value of your land.
4. Do your research.
Selling your land does not happen in the blink of an eye. It’s a lengthy and often tedious process that requires formalities. To navigate it properly and successfully, you need to do your research. Some things you should know include:
- The market value of your land
- The steps you need to take to legally sell your land
- Information and documents needed for transactions
- Possible tax implications
Having this information can help you proceed with your land selling process more effectively and prevent future headaches!
5. Conduct the necessary farmland maintenance.
Even if your farmland is practically empty, there are still things you can do to make it look more appealing to your potential buyers. Don’t skimp on basic maintenance efforts such as conducting repairs, mowing the grass, and getting rid of branches, fallen leaves, and debris.
6. Pay attention to boundary surveys and easements.
Some of the biggest complications that land sellers face have something to do with boundary surveys and easements. You should take care of these beforehand to avoid issues and so that you can promptly provide the requests of your potential buyers.
Some buyers request boundary easements to determine if there are any possession claims against the property. Having these documents to show can make your buyer more confident in their ownership of the land if they do decide to buy it.
You should also clarify if there are any necessary easements you need to procure for the buyer’s unbridled and convenient access to their land.
7. Consider offering your farmland for lease.
40% of farmland in the United States is offered to tenant farmers for lease. Renting out your land instead of selling it can give you a steady flow of income for years. This may be an investment strategy you are willing to make, but make sure to consult with professionals first before jumping right into it.
Sell to Slate Land Buyers
Selling farmland can become a very complex process. Luckily, there is an easy way to liquidate your land for a good price! Slate Land Buyers is a company that purchases land directly from sellers without all the bells and whistles of the traditional sale transaction. We are interested in all types of land, whether farmland or otherwise.
Tell us about your property today and we can give you a fair all-cash offer within 72 hours!