When a client hires me to sell their farm or hunting property, I believe it’s important to learn as much as possible about that farm. We live in a world of information sharing and educated buyers are diligent when sizing-up a potential investment.
This is a list of common questions that buyers ask me when they inquire about farmland or a hunting property. In order for me to professionally represent my seller client, it’s important that I know the answers or know where to locate them. I hope you find the list helpful as a memory jogger.
- How many acres is the farm?
- How many acres are tillable or actually farmed?
- What’s the topography? Is it steep, rolling, flat?
- What kind of soil does it have? NCCPI Rating?
- Does the seller have a yield history to share?
- If no, then what do you think average yields are, corn and soybeans?
- Has the farm been grid sampled?
- Does it flood? How often?
- Is the owner farming it or is it leased to a farming?
- Is the farmer local?
- How long has the farmer farmed it?
- How long has the current owner owned it?
- Is it terraced and/or tiled?
- Is there much erosion?
- How many years are remaining on the existing row crop lease?
- What are the terms of the cash rent lease?
- How much do you think it should rent for (cash rent for row crop)?
- When is the cash rent paid? All up front or split payment?
- Is the lease written or verbal?
- Does it have a hunting lease? Terms?
- Can the lease be terminated early?
- Does it have any harvestable timber?
- Do you have deer pictures? Turkey?
- Does it have established food plots?
- Has timber ever been harvested?
- Are any acres enrolled in CRP?
- How much does the CRP pay annually?
- What type of CRP is it?
- Is the CRP in compliance?
- Can the CRP be renewed?
- How many years are left on the CRP contract?
- What is the owner responsibility regarding CRP maintenance?
- Can I talk to the FSA office about the CRP contract?
- Does it have a pond and/or creek?
- Are the ponds stocked?
- How deep are the ponds?
- What’s the condition of fence?
- What’s the grazing ratio per animal unit?
- Are there timber or pasture acres that can be converted to row crop?
- Are there improvements: buildings, feed lot, corral, etc.?
- How much are the annual property taxes?
- Are there any additional levee or ditch district taxes?
- Is the property levee protected?
- Is the levee privately maintained or part of a levee district?
- Is there public water and electric?
- Does it have a well?
- What are the closest grain outlets?
- Is there any grain storage on site?
- What’s the crop rotation history?
- What stays with the farm, e.g., gates, corral, deer stands?
- Has the property been surveyed? Will it be?
- Will the seller consider owner financing?
- Is there any chance the seller would rent it for hunting while it’s listed?
- What are the building restrictions?
- Is the price negotiable?
Author: Dennis Prussman
Dennis is considered one of the nation’s top land agents. In 2021, he ranked number 3 nationwide in total land sales, with $46 Million sold. His experience includes thirty years of Internet advertising with a focus on real estate. view listings: http://www.PremierLandSales.com, social media: https://www.facebook.com/LandByDennis