Top Land Agents
BLOGS & SEEKING LAND
Buyer Seeking Land
I have several buyer requests from active buyers looking to purchase something right now. Do you have something you'd consider selling to one of them? 1. Urgent 1031 buyer looking to purchase Northern Missouri farm 80-120 acres. Ideal farm has some tillable and also some opportunity to hunt. 2. Buyer looking to purchase 40+ acres in NW Missouri that includes a home. Ideal property is a nice country home and the 40+ acres has the opportunity to hunt. 3. Buyer with budget up to 1 million looking to purchase top notch hunting farm in NW MO. Ideal property would have a home on it but open to purchasing hunting farm only. 4. Lots of buyers looking for row crop farms (to many to list). Please reach out if you have some tillable you'd consider letting go of. All shapes and sizes are in high demand. Thanks! Toby Prussman 816-385-7802
Leaves Are Falling-Hunting Farm Calls Are Rising
The leaves are falling, and as the temperatures drop, the hunting enthusiasts are getting ready for their favorite season. Hunters are eagerly searching for the perfect hunting farm, and they are reaching out for help in finding that dream property. Sellers should take note, because hunting farm calls are on the rise....tis the season! For sellers, this is the perfect time to showcase your property. As the cold weather approaches, deer season begins, and many hunters are eager to find a place to call their own. If you have a hunting farm to sell, now is the time to list it on the market. The demand for hunting properties is high, and you may find multiple interested buyers competing for your land. At the conclusion of deer season, there will be another wave of disappointed hunters that are looking to move on from their current spot, thus another opportunity for sellers. On the other hand, if you are a buyer, the time to act is also now. Don't miss out on the opportunity to hunt this year. There is still plenty of time to get one bought and be in the tree this Fall. With the increase in hunting farm calls, properties are being snatched up quickly. Whether you are an avid hunter or looking to invest in a property that offers hunting lease opportunity with some row crop income, it is essential to get to moving, November is right around the corner. I'm receiving lots of calls from eager buyers. The demand is high, and the supply is limited. If you have always dreamed of owning a hunting farm or if you are looking to sell and capitalize on the market demand, let's get to rolling! As an avid oudoorsman myself, I love this time of year. We all know the magic of November in the deer woods, and this time of year we can feel it warming up (technically cooling down!) and this get's us excited. As a land specialist & realtor I also love the buzz from buyers and sellers surrounding great hunting farms. I specialize in these type of properties and I'd love to assist you with finding your dream farm to buy. On the contrary, if you have a heck of deer farm and you're curious about what it could fetch on the market, give me a call, I love to view and market these properties. Toby PrussmanPresident | Missouri Land SpecialistPremier Land & Auction Group LLC816-385-7802
How To Finance A Farm Or Land Purchase
How to finance a land or farm purchase: Buying vacant land or a farm is a big investment, and it's important to have a plan in place for how you're going to finance the purchase. There are a number of different loan products available for farm purchases, so it's important to shop around and compare rates and terms to find the best option for your needs. Here are some things to consider: Down payment: Most lenders will require a down payment of at least 20% for a land or farm purchase. However, some banks may have special financing options for beginning farmers, borrowers with excellent credit, etc. Interest rate: The interest rate on your loan will have a big impact on your monthly payments and the overall cost of the loan. Be sure to compare interest rates from different lenders before you choose a loan. Repayment term: The repayment term is the amount of time you have to repay your loan. Longer repayment terms will result in lower monthly payments, but you'll pay more in interest over the life of the loan. Types of loans available for farm purchases There are a number of different types of loans available for farm purchases, including: Farm Service Agency (FSA) loans: FSA loans are government-backed loans that are available to farmers and ranchers who are unable or choose not to obtain financing from traditional lenders. FSA loans offer competitive interest rates and flexible repayment terms. Farm Credit System (FCS) loans: FCS loans are provided by a network of cooperative lenders that specialize in agricultural financing. FCS loans offer a variety of loan products for farm purchases, including operating loans, farm ownership loans, and land development loans. Local Community Banks: Community banks also offer loans for farm purchases. However, smaller community bank loans may have higher interest rates and shorter repayment terms than FSA or FCS loans. Community banks often do not have as many loan approval requirements and can work with borrowers with lower credit. Seller financing: In some cases, the seller of the land or farm may be willing to finance a portion of the purchase price. Seller financing can be a good option if you have difficulty qualifying for a traditional loan. How to apply for a farm loan To apply for a farm loan, you'll need to provide the lender with a variety of information, including your financial statements, business plan, and collateral information. The lender will also need to appraise the land or farm to determine its value. Once you've submitted all of the required information, the lender will review your application and make a decision. It is a good idea for most borrowers to go ahead and get pre-approved with their bank before they get to serious about trying to buy. Tips for financing a land or farm purchase Here are a few tips for financing a farm or land purchase: Shop around and compare rates and terms from different lenders. Not all lenders are equal, find one that provides you with the things that are important to you as a borrower. Be prepared to provide the lender with a variety of information, including your financial statements, business plan, and collateral information. Have these things somewhat lined out ahead of time to help streamline the process. Get pre-approved for a loan before you start shopping for land or a farm. This will give you an idea of how much you can afford to borrow and make the buying process go more smoothly. When the right farm hits the market, you will be ready to write up an offer. Consider working with a farm real estate agent who specializes in financing farm purchases. A farm real estate agent can help you find the right lender and get the best possible loan for your needs. Over the years I have had the pleasure of working with hundreds of lenders from every size of lending institution. Please reach out to me and we can discuss what type of loan product will fit you the best, and I can point you in the direction of several lenders that can help. Having a realtor, lender, and borrower all working together ensures a smooth process and helps you secure the property. Finding the right financial institution is just as important as finding the right farm. I can help you with both! Toby Prussman- President | Land Specialist Premier Land & Auction Group LLC816-385-7802 https://premierlandsales.com/tobyprussmanBrokered By: Real Broker LLC
Stepped Up Basis and Farm Inheritance: What Should You Do?
Stepped-up basis is a tax provision that allows heirs to reset the basis of assets they inherit to the fair market value of the assets on the date of death. This can be a valuable tool for heirs, as it can help them reduce their capital gains tax liability when they sell inherited land. Capital gains tax is a tax that is paid on the profit that is made when an asset is sold. The profit is calculated by subtracting the basis of the asset from the sale price. The basis of an asset is its original cost, plus any capital improvements that have been made to it. For example, if a farmer buys land for $100,000 and the land is worth $200,000 on the date of death, the heir's basis in the land will be stepped up to $200,000. If the heir then sells the land for $300,000, they will only have to pay capital gains tax on the $100,000 in profit that they made after inheriting the land. That's quite a difference than paying tax on the whole amount! How Can I Help? Provide price opinions: I can provide heirs with price opinions for the land they are inheriting. This information can be helpful in determining the fair market value of the land on the date of death. I come out and visit the farm, take some pictures, look at some soil maps, and look at comparable farms that have sold. All of this is done in conjunction with your CPA to ensure that the stepped up basis is acceptable. Help to find buyers: With a long list of buyers on hand, and the ability to reach buyers from across the nation, the majority of our clients decide to have us sell the farm when they are ready. We want the farm to be viewed by as many people as possible and we have implemented industry leading marketing techniques to ensure it. Negotiate on behalf of heirs We can negotiate on behalf of heirs to ensure that they get the best possible price for their inherited land. You only have one chance to sell a property and we want to make sure we sell it correctly, whether that be a traditional listing or a land auction. Conclusion Stepped-up basis can be a valuable tool for anyone who inherits real estate. It can help them reduce their capital gains tax liability when they sell. By working with a tax advisor, developing a good estate plan, and hiring the correct realtor, heirs can maximize the benefits of stepped-up basis. Pay less to Uncle Sam, and keep more of the proceeds for you and your family. Toby PrussmanPresident | Missouri Land Specialist816-385-7802
Seeking Land- Hunting With income
Buyer called and is seeking land up to 100 acres. Ideal property would consist of timber with some income from row crop. Buyer looking for exceptional hunting and if property can be flooded for waterfowl this is a huge bonus. Toby Prussman 816-385-7802
Seeking Land, West Center & North Central Missouri
Property Type:Farm, hunting, pasture Price Range & Acres:Depending on location Preferred Location:West central to north central missouri Comments:Young farmer wanting to grow my operation. Currently I am farming from Johnson county Mo to Harrison county Mo and a little in Iowa. Rental rates vary but always willing to look at any piece of property. Thank you in advance for any tips or information on properties Source: PremierLandSales.com
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