Almost all of the mid-west and many parts of the northeast and west coast comprise of beautiful farmland that is responsible for growing and feeding the economy with healthy crops. Owning farmland is very profitable, but finding desirable land can be hard to come by.
Farmland is expensive. Whether prepared for planting or not, you are purchasing a large quantity of land. The price for farmland acreage depends on where you are located. Considerations such as rich soil, favorable weather, price for ethanol gas and livestock production are factored into the price equation.
Acquiring new or unused farmland at an affordable price is possible and there’s one solution to ensure this: an auction. Farmland auctions are particularly popular and serve as a reliable source for purchasing affordable land.
A farmland auction begins with an affordable bid price followed by buyers being able to control the amount of money they’re willing to pay. Little is needed in order to attend the farmland auction, which may or may not be held at the actual property location.
Now onto another topic related to acquiring farmland, finding used farm machinery. Farm equipment can be quite expensive. Companies such as John Deere and Caterpillar are known for providing the highest quality of farm machinery on the market. For farmers who wish to purchase budget-friendly and functional farm equipment, seeking out used is ideal.
The task of locating used farm machinery can be a tricky. Two ways of guaranteeing success include knowing what you need and knowing where to begin your search. For example, if you need a hay baler, tractor or manure spreader, narrow down the makes and models that you’re willing to purchase used.
Next step is to attend a farm auction or farm dispersal sale. These kinds of sale avenues are great for spending on a budget. Many auction houses will list the items for sale on a website so you can preview before the auction.
The last step you can take to purchase used farmland is to place an ad in the local newspaper. List exactly what you’re looking for with the following information: make, model, year, condition and price.
If you want to increase your chances of acquiring affordable farmland or used farm equipment, contact Smith & Co. Auctions today.