Can I Sell My Farm With a First Right of Refusal?
Yes, you can sell your farm if there is a first right of refusal on the property. However, you may need to give the person holding that right an opportunity to purchase the farmland before completing a sale with another buyer. A first right of refusal can affect how you market, negotiate, and sell your […]
What Costs Surprise First-Time Farmland Buyers?
Buying farmland involves more than paying the purchase price. First-time farmland buyers can be surprised by costs such as loan interest, closing expenses, property taxes, insurance, drainage and tile repairs, surveys, legal fees, conservation work, and ongoing property improvements. Some of these costs occur at closing. Others may not appear until months or years after […]
Can I Buy Farmland With Someone Else?
Yes, you can buy farmland with another person. In fact, spouses, family members, business partners, farmers, and investors often purchase land together. Buying farmland with someone else can make a larger purchase possible. For example, buyers can combine their down payments, borrowing power, and other resources. However, buying the farm is only the first step. […]
Which Farmland Sale Method Creates More Buyer Competition?
If you are selling farmland, the sale method can have a major impact on how buyers compete for the property. Public auctions generally create the most visible, direct competition because qualified buyers compete against one another in real time. Sealed bids can also create strong competition, while traditional listings and private sales usually rely more […]
What Should I Know Before Selling My Farm in Iowa?
If you are thinking about selling a farm in Iowa, there are several things you should understand before putting the property on the market. The value of the farm, current lease, sale method, timing, taxes, marketing strategy, and closing process can all affect the final outcome. For many landowners, selling farmland is one of the […]
Can I Sell My Farm and Rent It Back?
Yes, you can sell your Iowa farmland and potentially rent it back from the new owner. This type of arrangement is commonly called a sale-leaseback. The landowner sells the farm but enters into a lease with the buyer that allows the seller to continue farming the property after closing. However, the leaseback is not automatic. […]
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 […]
Should I Auction or List My Iowa Farmland?
Should you auction or list your Iowa farmland? It depends on the farm, the number of potential buyers, your timeline, and your goals for the sale. An auction can create direct competition between buyers and establish a clear sale date. A traditional listing gives you an asking price and more time to negotiate individual offers. […]
Does Harvest Affect When I Should Sell Farmland in Iowa?
Yes, harvest can affect when you should sell farmland in Iowa, but it does not necessarily mean you should wait until harvest is over. In many cases, late summer and fall can be a good time to prepare or market an Iowa farm because buyers are actively evaluating land, harvest provides current information about the […]