Selling Farmland In Iowa
There are 2 main ways that farmland is sold in Iowa. The latest statistics show that 58% of farms sell at auction and 18% sell by private listing. For some farms there is a right and a wrong way to sell a farm.
Farmland Auctions are the most popular way to sell farmland for a seller because it offers so many advantages for a seller including the best and highest offers. This is absolutely the fairest way to sell a farm and ensure everybody gets a chance to participate.
Iowa Farmland Listings
- Seller will have more time to attract the right buyer fit for the property
- The buyer offers the seller an offer and set of terms and conditions
- Everything is negotiable
- Prices are set at the listing time, buyers often offer less
- Drip marketing exposes the farm to the market more slowly
- The date of sale will be unknown, but priced correctly should sell in 30-90 days
- Buyer and seller can negotiate what will bind the buyer to the contract
- Sales are not date specific until a contract is accepted
- Often requires multiple showings by the agent.
- Usually best for marginal and recreational type properties
Iowa Farmland Auctions
- The seller offers the farm to buyers under a set of terms and conditions
- The only thing negotiated at the auction is price
- The price has no artificial cap like a listing
- Marketing for a land auction is aggressive and saturated
- The date of sale is chosen by the seller
- All bids are cash bids with no contingencies
- Sellers may reserve farmland to ensure they do not experience a financial disaster
- Closing are secured with non refundable deposits taken at the auction
- Auctions require buyers to act by a specific date
- Auctions work on all properties but best on medium and high quality tillable farmland
- Auctions are incredibly flexible and can be conducted as a live auction, an online auction, a combination auction, a sealed bid auction among some of the most popular methods of selling a farm at auction.
Off Market Listings
- Some sellers do not want to expose their farmland to the market openly
- Divorce and Debt situations are most associated with off market listings
- No advertising is done, it is not placed on the website.
- We will quietly make contact with known buyers and investors of farmland
Considering selling a farm? Let Jason show you the options and how you can achieve the most amount of money in the shortest period of time.