Questions to Ask When Buying a Farm

Purchasing rural real estate is very palatable to some, but can be risky. Despite the intense need to do things on their own, you need to seek the advice and help of a real estate agent when it comes to these types of investments. However, you can also arm yourself with as much information as possible prior to consulting with realtors and looking over listings.

Things You'll Need

• Notebook
• Small file system
• Real estate agent

Instructions

1. 

   Ask many questions during all meetings with realtors. What is the property’s history? Was a landfill or dump ever located on the property? What pesticides have been used on the property? What types of wildlife need to be taken into account? When was the property last logged? What type and size was logged?

2. 

   Determine the condition of the land. How healthy is the property’s water and what is the source of the water? Does the property have access to irrigation, city water or a private well? Is flooding an issue?

3. 

   Inquire about all issues concerning land use and taxes. How is the property zoned? How does the zoning affect your goals for the property? What is the property currently used for? How much are the yearly taxes?

4. 

   Figure out exactly what you intend to do with the property. What do you plan to do with the land? Crops? Livestock? Does the dwelling meet family requirements both now and in the future? Are you going to live on the farm? Is the farmhouse located adjacent to the land? Is the farm commutable to necessities? Are the fields visible from the house?

5. 

   Inquire about all issues pertaining to labor occurring on the land, as well as the surrounding properties. Is the dwelling accessible for farm labor? What is the condition of all the buildings located on the property? Is the farm easy to locate? How close are you to neighbors? What is the quality of the access roads?

Tips & Warnings

• Write down all the answers you receive and, if possible, ask the person you're questioning to initial your notes to be sure you understand everything clearly.

• Research the property's history at the local town hall.

• If you feel uncomfortable about any of the information you're receiving, either research your questions further or move on to another property.

• Don't avoid your neighbors because they will prove to be one of your best assets during the research and buying process.