# Need some ideas for selling or leasing my farm



## sidepasser (May 10, 2002)

I have had my farm listed for the past year and have had a few offers that were way too low to accept as I think people thought I "had to" sell. The farm is still listed on a month to month basis with no contract in place while I decide what to do to get it either sold or leased.

Thoughts and ideas are welcome. I don't "have to" sell, but am tired of paying utility bills, taxes and driving down every month to make sure the place is ok and doing maintenance. 

31.4 acre farm 5 miles from town, has an artisian well, two 1500 gal. septic systems, board fence (needs some repairs), mix of cattle panels/hog wire fence, and has a riding arena. House/barn has three stalls, is 3200 sq. feet, with approximately 2500 sq. feet of living space (3 bedrooms, one office, kitchen, bath, large hall, electric, plumbing, water heater, ceiling fans, and whole house fan. Needs finishing, I never got to finish it inside or outside. 

Stream behind barn, chicken yard fenced with a house, small outdoor shed, one large hay shed holds 800 bales of hay, one smaller one holds 125 bales, misting system in barn for hot weather, barn side is lighted, plumbed and has a tack room, feed room, two stalls and one room that is almost finished for storage or could be turned back into a stall. Have woodshed that holds enough wood for a couple of winters, an outdoor swing and am leaving a 53 foot trailer for storage. Trailer has wiring for lights and could be hooked up to the outdoor connections. Also has a well house that is small but keeps the well clean. Old garden spot but has not been maintained in three years, has raised beds.

Lots of oak, hickory, beech, some pine, and other assorted hardwoods, has not been cut since 1968 other than a few trees for firewood. Drive way is long, place is very private. Nice neighbors but you cannot see them or usually hear them at all from the house. Loads of deer and turkey, squirrel and just a few rabbits. Deer are practically tame as no one hunts them. 

I am open to offers, could possibly lease place out, might do owner financing with a down payment, so have thought of those things. I don't think realtor has promoted them in any way though. Also have though of raffling it off, or a land auction but not fond of the auction idea. So..any other suggestions?

I can lower the price some, but won't give it away.


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## Taylor R. (Apr 3, 2013)

I don't know about the market in your area, but your price point seems just fine to me. It would be a steal around here. Have you considered going with a different realtor? I worked in real estate for a few years, and some of the agents were much more adept at selling properties in general, some even more specifically excelled in rural hunting/farming properties. Someone who is willing to put a little time and money into promoting your property would probably serve you a little better.

It's a beautiful place, and I hope you're able to get it sold for a good price!

P.S., It just hit me that Lagrange was one of the places that my husband had considered transferring to. His old boss got a promotion within our company down there and calls every few months with a management position opens up to try to talk my husband into putting in his application.


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## mnn2501 (Apr 2, 2008)

I question how its listed. I sold real estate for a while so I do know listings, but what does this mean?



> Property/ Includes A Barn With An Unfinish 2 Bedroom 1 Bath 3 Stalls And Tack Room/


Is there a house? are there bedrooms in the barn that are not finished (if not then what are they)? You really need to have the lister spell things out better.


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## jesirose (Jun 20, 2013)

Without a finished house I don't see how you'll get that much. Someone has to invest their time and money to finish it.

Even if it is technically liveable, a mortgage company won't view it as such, and so you're looking at cash offers only, right?


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## sidepasser (May 10, 2002)

It is liveable, it has electric, wood heat, ceiling fans, plumbing, a kitchen completely wired with a brand new flat top range, and fridge. Also has a wood cookstove in case power goes out. Has a whole house fan.

It needs to be finished as in cosmetic work such as finishing the wall board/sheetrock and flooring. I have bought enough tile to do the bath and kitchen and that stays with the house. House has double hung new windows and a very cool kitchen skylight.

The house and barn are one unit. You go through a door into what is like a breezeway to the barn half. Barn is also completely wired, plumbed and has a water misting system and outlets for the fans for the horses. Every stall has lighting and the aisleway has lighting. It has a concrete floor and the stalls are concrete and matted with heavy duty matting.

It's really a horse lovers place or a person who wants to have a homestead. It's private, perfectly liveable as is although most folks these days want carpet and such. I never cared and I built the house from the ground up. I never had a problem getting financing for the land and the barn. Then I converted part of the barn into a house. I started insulating it and hanging sheet rock and had to move to keep employment. There are no liens against the property and taxes are approximately 536. a year. It is in a conservation farm program which gives excellent tax benefits and the only requirement is that to remain in the program, one has to keep it as it is - a homestead or farm of some type. If you want to make it a subdivision, you could revert it back to the original R-1 status which is what it was when I purchased it and plat out lots and so forth. The only thing you cannot do is open a gas station or commercial type business. You can have a farm stand or boarding barn, or sell fruit, veggies, etc. 

Also has a way cool 1800's cemetary that on one corner of the property. Very historic place although I believe that now all the family has died out as I met the last living descendant back in the early 2000's and she was quite old, said she was the last of the line. A person doesn't have to keep it up, but I kept it free of fallen limbs (there is no grass in the cemetary to cut, it is located in a clearing in a grove of woods.). 

I do not think with the proper amount down, that anyone would have any trouble getting a mortgage as long as requirements are met such as credit scores, etc.

Most bare land in this county goes for 5,000 up. We are very close to West Point Lake, I am about two miles from the lake and rode horses there, fished, swam and boated.


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## Ceilismom (Jul 16, 2011)

I would second the suggestion to try a different agent. The description of the barn is confusing, and overall, it isn't written in a way to pique a buyer's interest. What you wrote here to describe the place should drum up a whole lot more interest than what's written in the listing. 

It would also be helpful to show some photos of the kitchen and just how unfinished the living quarters are. Those things won't deter the right buyer, but their absence might make a prospective buyer assume a lot more work there than there really is.


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## sidepasser (May 10, 2002)

Thanks for the suggestions. I think I will look at the description and also taking some pics of the inside of the house/barn. It needs work, that is not in question, but one can live in it and do the work to complete the interior/exterior as you can afford it.

I would be willing to owner finance provided the person has a down payment. I am leaving a 15 ft. chest freezer, a nearly new side by side fridge that is very nice, and a brand new 1200.00 range. The coolest things I am leaving though are the wood stove and the wood cookstove (which needs no work, is hooked up to the piping and has cooked some really nice meals!). Here are a few more pics:


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## jesirose (Jun 20, 2013)

Sorry, I didn't meant to say its not livable - when my husband and I were looking for a fixer upper 2 years ago, everything we found that we wanted to fix up was missing so much that the mortgage company wouldn't give us a loan on it - I was told there was a rule about that. (We eventually settled on a suburban house as our plan b)

I'm sure the place is great I just thought the mortgage companies had rules about that stuff.


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## Alice In TX/MO (May 10, 2002)

Have you checked comparable property values?


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## Guest (Jul 6, 2013)

Property anywhere is worth what the market will bear . If its been adequately listed for a year & no serious offers your price is too high . If you don't think your realtor is doing an adequate job of listing it , list with someone else . JMO


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## wintrrwolf (Sep 29, 2009)

WV Hillbilly said:


> Property anywhere is worth what the market will bear . If its been adequately listed for a year & no serious offers your price is too high . If you don't think your realtor is doing an adequate job of listing it , list with someone else . JMO


Agreed.

Personally I wouldnt mind at all living that close to my critters, shoot my 2 horses smell better then some people!
BUT if I had tried to get my mother to get that she woulda pitched a royal prissy fit, that and she had to go through USDA financing and not sure if your place woulda qualified.

I think the place is very nice and had I the money I might consider moving to Georgia


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