Posted by glennster on January 14, 2015 at 16:42:27 from (99.90.9.201):
In Reply to: buying farmland posted by howard parker on January 14, 2015 at 16:14:55:
your at 3200 / acre, if its productive ground, thats cheap. ground round me is 11-15k / acre. go to your county extension or fsa office and see how much is tillable, also what the average yields are on the property. for financing, farm credit or a local bank near the property may carry the note. figure on about 30% down. check and see if you can build on the property and any zoning restrictions. be sure it has ag zoning to keep the taxes down. you may need to rent the ground out if you cannot farm it. where abouts is the ground located? also check if it is in a flood plain. do your due dilligence before committing. and have an attorney familiar with farm purchases handle it.
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