How Does a Sealed Bid Farmland Sale Work in Iowa?
A sealed bid farmland sale in Iowa allows interested buyers to privately submit their best offer for a farm by a specific deadline. After the deadline, the seller reviews the bids and determines how to proceed based on the terms of the sale. Unlike a live farmland auction, buyers typically do not know what other […]
Can I Choose the Attorney Who Handles My Farm Closing?
Yes, in many Iowa farmland transactions, you can choose the attorney you want to represent you during the sale and closing process. However, choosing your attorney and choosing who performs every part of the closing are not always the same thing. The purchase agreement, financing arrangements, title requirements, and responsibilities assigned to each party can […]
What Makes a Great Farmland Auctioneer in Iowa?
A great farmland auctioneer in Iowa needs more than the ability to call bids. The best farmland auctioneers understand land values, agriculture, local buyers, marketing, auction strategy, and how to create competition for a farm. They should also be able to explain the process clearly to the seller from beginning to end. Selling farmland can […]
Does My Farm Need to Be Surveyed Before an Auction?
No, an Iowa farm does not always need to be surveyed before it is sold at auction. Whether a survey is needed depends on the property’s existing legal description, boundaries, how the farm will be offered, whether new tracts are being created, and any title or closing requirements. For some farmland auctions, existing records and […]
How Do We Preserve Our Family’s Legacy When Selling the Farm?
You can sell an Iowa family farm without losing your family’s legacy. Although the land may change owners, your family’s history can still live on. For example, you can save photos, record family stories, preserve old records, and keep meaningful items. You may also be able to keep the farmhouse or a small piece of […]
Can a Farmland Closing Be Done Remotely?
Yes, many Iowa farmland closings can be completed remotely. Sellers and buyers often do not need to be physically present at the same closing table. Documents may be reviewed and signed from another location, while originals, notarized documents, funds, and recording requirements can be coordinated by the attorneys, closing company, lender, real estate professionals, and […]
Can I Sell Only My Interest in a Farm?
Yes, in many situations you may be able to sell your ownership interest in an Iowa farm without selling the entire farm. However, what you can sell depends on how the property is owned, the deed, any ownership agreements, estate or trust restrictions, and other legal considerations. For example, if three siblings each own an […]
Is Farmland a Good Investment to Keep?
Farmland can be a good investment to keep, but the answer depends on the individual property, its income, expenses, location, land quality, and your financial goals. Iowa farmland can provide rental income while giving the owner a tangible long-term asset. However, farmland also has risks, expenses, management responsibilities, and capital tied up in the property. […]
Who Maintains an Access Easement on Iowa Farmland?
Who maintains an access easement on Iowa farmland depends first on what the easement agreement says. If the document does not clearly assign maintenance responsibility, Iowa law may place responsibility on the party benefiting from and using the easement, depending on the circumstances. That is why landowners should review the recorded easement rather than assume […]
How Much Is My Farmland Worth in Iowa? 10 Factors That Determine Land Value
The value of your Iowa farmland depends on much more than the number of acres you own. Location, soil productivity, CSR2, tillable acres, drainage, field configuration, access, improvements, lease terms, recent comparable sales, and local buyer demand can all influence what a buyer may be willing to pay. If you are wondering, “How much is […]