eHow launches Android app: Get the best of eHow on the go.
Summary: When buying farm land, contact an experienced real estate agent who understands perk tests, flood zones and insurance. Consider that FEMA does not cover farm land when it floods before buying bulk acreage with tips from a real estate broker in this free video on house financing.
Penny Smith has been in real estate for more than 14 years. She has a degree in architectural design and has received buyer and seller associate training, as well as CMA Training. She...read more
"Hello, my name is Penny Smith. I'm in North Carolina, real estate broker. And today I'd like to talk to you about how to buy farm land. Typically when you're buying farm land you're buying more bulk acreage than you would just a residential lot inside of a city. That is quite obvious. But farm land has its own little special details that you need to pay particular attention to. My first recommendation is find a good real estate agent that has sold farm land and that knows the proper forms that you will need in order to purchase that farm land. For instance you will need to have a perk test. Perk test is where you find out if the soil will properly drain a septic tank and also properly allow water from a well to go up for the property. Farm land also means that you have to have a flood inspection done. Know where the flood zones are and also know that FEMA does not cover farm land then they; when a farm floods. You can buy insurance to cover your crops but some times that's very high depending on the flood zones that you do live in. I hope that you will contact a good real estate agent as well as a good real estate attorney that can help you to buy that farm land. And cover yourself and protect yourself when doing so. And that's my recommendations for buying farm land. Thank you and I hope you have a good day."
eHow Article: How to Buy Farm Land