The market for farm real estate remains active, and purchase prices remain high by historical standards.
Purchasers of farm real estate should be interested in making sure they get full value for their purchase price, and that they understand the matters that will affect title to the real estate being purchased. Sellers of farm real estate should be interested in being sure that there will be no problems they are asked to remedy after the sale.
There are several “due diligence” items to which attention should be given during the negotiation and pre-closing process in connection with the purchase and sale of farm real estate to be sure that the interests of both the seller and purchaser are protected. They include the following:
The bottom line is, if you are a purchaser of farm real estate, it pays to do your homework in advance. And if you are a seller, it pays to take steps to make sure that the purchaser is not disappointed and looking to remedy that disappointment after the transaction, instead of dealing with any issues that exist as a part of the transaction.