Are you looking to sell farm land?
Selling farm land is different from selling a house. When you have farm land for sale, you need to approach it with a variety of different steps. If you do it in a poor manner, you might not sell your land as fast as you need to.
Yet, if you approach the selling process in the right way, more people will see your land. As such, you’ll get the opportunity to see better offers and find the best deal for your land.
Below, we’ll get into our top 10 tips on how to sell farm land in western New York. Keep reading to learn more!
1. Determine When to Sell Your Farm Land
First, you need to determine when you want to sell your farm land.
If you’ve ever sold a house before, you might be familiar with the adage that summer is the best time to sell. But this isn’t necessarily true for farm owners.
When you sell a farm, you’ll want to present your land in its most attractive condition. Your land may not look its best if you try to sell it in the middle of your harvest season. If your harvest season is during the summer, you won’t want to sell during that time.
2. Plan for How to Handle Your Harvest
If you’ve already planted your harvest, you might wonder how you’re going to get your money’s worth.
Yet, if you make proper plans, you’ll have the ability to harvest your crops even after you sell your farm. Many farm owners write a clause in their contracts stating that they have the legal right to take their crops once they’re ready to harvest. This is true even if the farm has already been sold.
3. Fix Up Your Farm
Once you decide you’re going to sell your farm, you need to determine what needs to get fixed. Walk around your farm land and take note of anything that has been damaged. You might want to have a professional come out and inspect your property to make sure there aren’t any deeper, unseen damages.
You should also take the chance to see if everything on your farm looks like it’s in top condition. If needed, give your buildings a coat of paint or replace older features.
4. Get Your Farm Appraised
A farm owner should have their land appraised if they want to sell it. This will tell you how much your farm is worth. The value listed on your appraisal will determine how much you’ll ask for your farm when you put it on the market.
If you want to increase your property’s financial worth, you should consider doing repairs and renovations. Having new features will make your farm more valuable. As such, you’ll get a better appraisal and more money when you sell it.
5. Consider Dividing the Property
If one part of your property is bringing your appraisal down, consider dividing the land. You can sell multiple pieces of your land to different owners.
That way, you’ll get more money for the nicer parts of your property.
6. Find a Real Estate Agent
One of the commonalities between selling a house and selling farm land includes finding a real estate agent. Yet, you shouldn’t hire a residential real estate agent when you sell a farm.
Instead, you’ll need a real estate agent who specializes in selling farms. They should know about farms in your area and be willing to familiarize themselves with the most positive aspects of your land. This is especially true if your farm is older or you anticipate having a difficult time selling it.
7. Take Pictures of Your Property
When you put your farm on the market, you should take pictures of it. Clean up your spaces and think about which angles make your farm look the most attractive.
Take several photos with a high-quality camera. You’ll want photos of every major area of your farm. These pictures will then go online.
Posting pictures of your farm on the internet increases the chances that someone will want to visit your farm and buy it. Pictures help people envision themselves living and working on your farm land. If the photos are nice-looking, they will capture the attention of prospective buyers.
8. Don’t Forget About Your Equipment and Livestock
Many farm owners sell their livestock and equipment when they sell their farms. Often, these will go to the new owner of the farm.
If you don’t want to sell your equipment or livestock, you don’t need to. Yet, you should plan ahead for this to make sure you have a place for them once the farm sells.
Should you want to sell the equipment and livestock, tell your appraisers so they can factor this into the value of the farm.
9. Get Notified When People Tour the Farm
Your real estate agent should tell you if people are coming to tour your farm. Ask them to give you at least a few hours of advance notice. That way, you can clean up your area and ensure no in-depth, messy work is going on while you have guests.
Many people leave their property when it’s being toured. If you can’t afford to do this, have a plan for when tours come through. Make sure each farmhand knows where the tour will be and when so that they can keep the area neat.
10. Prepare to Negotiate
Once your farm goes on the market, you can get offers at any time. Most people will offer you less money than your listing price. You should know the lowest amount you’re willing to accept for your farm and what you’re willing to compromise on.
If you receive an offer, review it carefully. Take some time to talk it over. If needed, you can talk to your real estate agent about it, too. Then, you can either accept the offer or reply with a counter-offer.
Ready to Sell Your Farm?
Now that you’ve read this article, you’re ready to get started with putting your farm land on the market.
When you look for a real estate agent, you need to search for someone with experience. That’s where our team comes in. We specialize in selling land in western New York.
Ready to highlight your land’s best features? Contact us today to learn more about what we can do for you!