What is a closing disclosure?
Top 50 Questions about Farmland A Closing Disclosure is a detailed document that itemizes all fees, costs, and financial details for a farmland transaction. It ensures transparency by breaking down expenses for both the buyer and the seller. What’s Included in a Closing Disclosure? Buyer and Seller Sections: Both sides start with the same total […]
What do I have to pay for taxes?
Top 50 Questions about Farmland When you sell farmland, you’ll navigate three primary types of taxes. Understanding how each tax works helps you plan ahead, meet your obligations, and protect the value of your sale. 1. Property Taxes Timing: In Iowa, property taxes run a year in arrears, so you pay this year for last […]
Do you cash the check right away?
Top 50 Questions about Farmland No, the earnest money check does not get cashed immediately. Instead, the transaction follows a clear process that complies with Iowa Real Estate Commission rules. These rules require the check to be deposited into a trust account within five days, ensuring transparency and security. How the Process Works Post-Auction Communication: […]
How soon can we close?
Top 50 Questions about Farmland The farmland closing timeline is one of the most common questions sellers and buyers ask. While the typical farmland closing timeline is around 45 days, it can vary based on the structure of the deal, financing, title work, and how quickly each party completes their requirements. Understanding this timeline up […]
What is a 156 form?
Top 50 Questions about Farmland The 156 Form is a vital document for farmland owners, often referred to as the “pedigree” of your farm. It provides detailed information about your farm’s characteristics, usage, and participation in government programs. What Information is on a 156 Form? Acreage Details: Total acres. Crop acres. Tillable acres as recognized […]
When do I get paid?
Top 50 Questions about Farmland Understanding farmland payment at closing is essential when you sell a farm in Iowa. Sellers often ask when they will receive their funds, how payments are handled, and what to expect during the closing process. Because farmland transactions involve multiple parties—buyers, lenders, attorneys, and title companies—clear expectations help ensure a […]
When does the buyer get possession?
Top 50 Questions about Farmland Understanding the farmland possession timeline is essential for both buyers and sellers during a farmland transaction. Most people assume possession transfers the moment ownership changes, but leases and purchase agreement terms can shift when full control is granted. Knowing how the farmland possession timeline works helps avoid confusion and ensures […]
How Land REALTORS® Can Use ChatGPT to Work Smarter
The real estate industry continues to evolve, and technology plays a growing role in how professionals market property and serve clients. One tool gaining attention is ChatGPT (Generative Pre-trained Transformer), a language model developed by OpenAI. Land REALTORS® can use ChatGPT to strengthen marketing, improve client communication, and save valuable time. So how can land […]
Using Digital Marketing to Sell Farmland Successfully
In today’s digital age, the internet plays a critical role in connecting buyers and sellers. This shift applies to farmland sales as well. As a result, online marketing has become essential for reaching serious buyers. Whitaker Marketing Group helps landowners maximize exposure and achieve successful farmland sales through proven digital strategies. With a strong online […]
What happens if we don’t meet the reserve?
Top 50 Questions about Farmland If your farm does not meet the reserve price at auction, you still have clear and effective options. These paths provide flexibility while keeping your goals front and center. Most importantly, they allow you to continue working toward a successful sale. Options After Not Meeting the Reserve List the Farm […]
