No matter what reasons you’ve decided to sell your farm for, there are some crucial aspects of the selling process you should be aware of. For instance, it can be immensely helpful to understand what is a farm real estate appraisal process like, what documents you need to prepare, and so on.
Below we detail the main actions you can take to prepare for the sale so that selling your farm goes smoothly.
Getting an Official Farm Real Estate Appraisal
While it might seem like just getting a real estate broker to evaluate your farm is the way to go, they don’t have the knowledge or certification to truly understand what your farm is worth. That’s why it’s so important to get your farm appraised by an accredited appraiser. Their valuations have to be held to a high standard in case the appraisal is used in court so all appraisals done by them are held to rigorous guidelines to be their most accurate.
By getting an appraisal done by an accredited appraiser you also get the most accurate picture of your farm. Without getting one done, you could be undervaluing what your farm is actually worth and miss out on thousands – or even hundreds of thousands – of dollars when you sell.
What You Can Get Ready Before Selling Your Farm
Getting Your Farming Real Estate Ready
Like the sale of most major items, it’s important to have your farm looking its best when it’s put up for sale. It’s a good idea to make sure your gates and fencing are in good condition as well as any trackways.
For farms with livestock, make sure that any sheds are regularly mucked out. Farms that grow crops should have weed-free fields and kept in good shape to better draw the interest of any buyers.
Farm Documents to Have Ready
Make sure all pertinent financial records are handy and are in good order. It’s also a good idea to show the fertility records or yields of your farm and soils for crop-producing farms and livestock records for farms that raise livestock.
Overall, by having your farm looking its best, gathering the right documents, and getting a farm real estate appraisal done, you’ll be ahead of the game when selling your farm.