Whether it is an investment or a long-seated desire to own agricultural land and embrace rural life, there are many different reasons why an increasing number of people are choosing to purchase farmland. However, purchasing farmland is different than your average property purchase. As such, you need to find a realtor with experience and understanding of the process, if you are to secure the right land for the right price.
A good realtor that specializes or has extensive knowledge of farming will understand the importance of checking out regulations and legislation relating to your purchase. This is important as failing to understand what the rules are surrounding the land you purchase could see you committing to buying land that you cannot use for your intended purpose.
There are some key differences between a regular property purchase and buying farmland, and your realtor will be essential for helping you navigate these and ensure that you choose the right farmland for your needs and circumstances. For example, it is essential that you check local zoning laws to ensure that – if there isn’t already a property on the land you wish to purchase, you can undertake new construction without breaking any laws.
Water rights are also something that you will need to spend time checking out, to ensure you have access to the water needed to successfully run your farm. If you do not have water rights as a direct result of your land ownership, your realtor will be able to find out if you have water rates based on previous use or prior appropriation – which refers to the rights to obtain water provided it is for specific beneficial uses, normally including agriculture.
Another major consideration that you will need to make is accessibility to utilities – for example, if you have access to your local town’s sewer, or if you will need to arrange for a septic tank. Boundaries, rights of way, and specialist tax rules are also things that require an experienced land realtor.
These are just a few examples of the type of specialized knowledge and experience needed by a realtor when it comes to buying farmland – something which a regular property realtor is unlikely to understand.
While there are countless property realtors with the knowledge and experience to successfully facilitate and manage the purchase of a regular property, there are far less who have the specialty experience to secure a great deal on farmland.
For this reason, when it comes to finding the right realtor for your farmland purchase, the most important thing you should inquire about is their experience with regards to buying land. For instance, you should ask your realtor how many land acquisitions he or she has made in the last 12 or 24 months.
You could also ask what type of land purchases they have been involved in – farmland, ranch land, timberland, and so forth. Ideally, try and find a realtor that deals predominantly in this type of purchase since they should have the greatest amount of understanding and experience. Ask them how smoothly their most recent land transactions have gone and if any problems arose what they did to overcome them.
If you happen to know family, friends, or colleagues who have bought farmland in the area, ask them which realtor they used and if they would recommend them to you. Even if they can’t make a recommendation, they may be able to tell you who to avoid and why they felt the way they did about them.
Finally, make sure you choose a realtor that you feel has your best interests at heart and who you feel that you can trust. Buying farmland will involve spending many hours in discussions with your chosen realtor, and if you are new to this type of purchase, you will be heavily reliant on your realtor passing on accurate and reliable information. Trust and good communication are essential for your acquisition to run smoothly.
If you are considering purchasing farmland and you would like to discuss your acquisition with a team of talented and experienced land realtors, we would be delighted to speak to you. Please do not hesitate to get in touch by calling our office today at 509-876-8646.