How To Buy A Farm 101

by Staff on July 26, 2013

Buying a Virginia FarmIt seems like an obvious process.  If you want to buy a farm, you just go find a farm that you like and buy it.  But without a few more details in that process, you’re cruising for a disaster.

Almost anyone can “sell” you a farm.  It’s possible to buy directly from the existing owner or contact the agent whose name is on the for-sale sign.  But in our area, those would certainly not be our first recommendations.  If you do either of those, you will have no one else in the entire transaction looking after YOUR OWN interests.  All of those people have already agreed to protect the seller’s interests.

So our first piece of advice is to find a Realtor who’s experienced in helping buyers with farm properties.  It may seem like buying or selling farms is no different than buying a house…. but that’s not the case for the buyer.  Having your own Virginia buyer agent connects you to their network of other professionals … the ones you’ll need right away, even before you make an offer.  Your agent will advise you about such things as locations which have appropriate soils for your intended uses, tests that you might want to conduct during a study period of the details of the farm, connections to legal advice to structure your purchase offer, and possible government regulations that could affect your intended use of the farm.

You don’t want to learn uncomfortable news about flood conditions ‘after’ you’ve bought your farm.  You don’t want to learn about the ancient underground gas tanks after you’ve bought your farm.  And you certainly don’t want to learn later that the fence line isn’t actually your own boundary line.

All of those topics need to be handled BEFORE you offer to buy a farm.  Do you need a loan and if so, who provides farm loans for your situation?  Do you want to test the soil to see if any toxins have been used previously?

Realtor.  Attorney.  Inspector.  Surveyor.  Well testing.  Soil testing.   The list goes on and on, and if it seems overwhelming to you… let us help!  We do this every day and our former clients are glad to let you know that we’ve guided them through some murky waters into a very happy transaction.

Here’s a fact that many buyers don’t know.  Our fees to perform as your Buyer Agent… are paid by the sellers and are included in the price of every property you see on our MLS site.

 

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