Though there is only a limited amount of farmland available in the United States, the time is right for purchasing some acreage. The depressed economy has driven down real estate values and created a huge amount of short sale and foreclosure properties. Individuals do not need to look far to find and buy cheap farmland in this country.
There are Web sites established to showcase inexpensive farmland property to would-be buyers. When looking at these properties, buyers should be aware that it might be very expensive to get electricity, sewer, and a source of water installed on a very remote land tract. It may behoove them to pay a bit more for an established plot of land rather than worrying about these issues.
If they are looking for inexpensive land, buyers should steer clear of areas with a mountain view or small farmettes that are located within driving distances to major cities. They should focus on areas that have an inadequate amount of rainfall and unpleasant climates. These conditions will make the land cheap, but they may also limit the farming activities that can take place on the land. In dry areas, buyers should make sure that the seller owns the water rights and that these will be transferred to the buyer with the land.
Short sales, online land auctions, and foreclosures are sometimes the best ways to find the most inexpensive farmland. However, buyers should first research the steps involved in each of these processes. They can often be complex and finalizing transactions can take a long time, making them unappealing to some farmland buyers.
If the Internet does not provide the desired type and quantity of properties, buyers should consult with a real estate agent. This professional will find land for sale that matches the specifications of the buyer. It is recommended that buyers retain an agent who specializes in farm properties and is familiar with the area in which the land is located.
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