Posted by Shaler on November 04, 2018 at 20:21:40 from (72.77.83.210):
A couple of pages back you will see a post labeled land auction question. I was stumped because an auctioneer in my area was offering for sale a farm that he chopped in to 6 parcels. This is very common in my area. what is also common is to offer the farm as parcels, and then tally the bids and offer it as a whole if the bid for the whole exceeds the cumulative parcel bids. In this specific case the auctioneer was offering it in parcels ONLY and was not going to try to sell as a whole. I got my answer. One of the sellers family members (that will directly benefit from the sale of the parcels) wants to buy one of the parcels, but has no interest in the entire farm. Therefore they wish to avoid someone buying the entire farm and buying the parcel away from the family member. You may ask why the family simply excludes the desired parcel from the sale. The family has decided this is the best way of determining the FMV of the parcel in question.
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