fbpx

Essential Documents for Selling Your Land: A Checklist for Success

Essential Documents for Selling Your Land:

A Checklist for Success


Introduction

Selling your land can be a complex process, requiring thorough preparation and a detailed understanding of the necessary documentation. Ensuring you have all the essential paperwork in order will help ensure a smooth transaction and maximize the sale value of your property. Here’s a comprehensive checklist of the essential documents you’ll need to sell your land, along with tips on how to obtain them.

Seller Document Checklist (pdf)  <– Click Here to Download a copy of our Document Checklist.


1. Proof of Ownership

Deed

The deed is a critical document that proves your ownership of the property. Ensure it is current and free of any encumbrances.

  • Clean Title: Verify that you have a clean title and the legal authority to sell the property.
    • How to Obtain: Contact your county recorder or clerk’s office to get a copy of your title deed. If there are any encumbrances, you may need to work with a real estate attorney to resolve them.
  • Transferability: Determine if the deed is transferable as is or if you need a new survey to correct any discrepancies.
    • How to Check: Call or visit your county Tax Map or engineers office and they will be able to tell you whether the legal description of your property can transfer without A new survey

– Resources


2. Land Surveys

– Survey Report

A current land survey outlines the precise boundaries and size of your property, which is crucial for potential buyers to understand exactly what they are purchasing.

  • New Survey Needed?: If there have been any changes or disputes regarding property lines, or if your survey (legal description) is old, then a new survey may be required.
    • How to Obtain: Hire a licensed surveyor to conduct a new survey if needed. Your local county or state surveying board can provide a list of licensed surveyors.

– Resources


3. Farm Service Agency (FSA) Documentation

– FSA 156 EZ and Maps

These documents provide essential information about your farm’s acreage and usage, which can be used for promotional purposes to attract buyers.

  • FSA Forms: Ensure that your FSA 156 EZ form is up to date and accurate.
    • How to Obtain: Contact your local FSA office to request these forms and ensure they are current.
  • Maps: Provide clear, detailed maps that highlight the features and boundaries of your property.
    • How to Obtain: Your FSA office can also provide maps, or you can use online mapping services provided by your state’s agricultural department.
  • Government Programs: Remember to check the 156 EZ form to confirm if your property is in any government programs such as C.R.P. or C.R.E.P, and the timeliness and payments that the property owner receives for those programs.

– Resources


4. Tenant Agreements

– Written or Verbal Agreements

If you have tenant farmers, it’s crucial to have clear agreements in place.

  • Written Agreements: Ensure all tenant agreements are documented in writing.
    • How to Create: Work with a real estate attorney to draft formal lease agreements.
  • Verbal Agreements: If you have a verbal agreement, you must give notice to the tenant by September 1st of the year prior to selling. Failure to do so may grant the tenant the right to farm the land the following year.
    • How to Notify: Send a certified letter to your tenant to provide written notice, and keep a copy for your records.

– Notification Requirements

  • New Law Compliance: Notify tenant farmers without an expiration date in their agreement in writing by September 1st if you do not wish for them to farm the next year. This is critical even if your agreement is based on a handshake
    • How to Comply: Use certified mail to ensure the notification is documented and legally acknowledged.

– Resources


5. Yield Records

– True Yield Records

Accurate yield records are essential for showcasing the productivity of your farm.

  • Verification: Ensure that the yield records are correct. If your tenant has an interest in buying, verify the records independently if possible to avoid any potential conflicts of interest.
    • How to Obtain: Request these records from your tenant or check with your local agricultural extension office for historical yield data.

– Resources


6. Additional Documentation

 

– Easements and Rights

  • Easement of Record: Document any easements that exist on the property, as these may affect its value and usability.
    • How to Obtain: Contact your local county recorder’s office or a title company to obtain these documents.
  • Mineral Rights: Clarify whether the mineral rights are included in the sale.
    • How to Verify: Review your title deed or consult with a real estate attorney.
  • Solar Rights: Provide information on any solar rights associated with the property.
    • How to Verify: Check with local zoning and planning departments or consult your title documents.

– Financial and Legal Records

  • Tax Records: Ensure all property tax records are up to date and available for review.
    • How to Obtain: Contact your county auditor’s office for copies of your tax records. Most county auditor websites make it easy to find this info on your own.

Conclusion

Preparing these essential documents in advance can significantly streamline the process of selling your farm and ensure a successful transaction. By having a clear and comprehensive set of records, you build trust with potential buyers and can negotiate from a position of strength.

The team at Wilson National LLC can assist you in gathering and preparing all necessary documents, ensuring a smooth and successful farm sale. With their extensive experience in agricultural real estate, they provide personalized advice and support to help you achieve the best possible results. Learn more about the auction process here – Step-by-Step Auction Guide or check out our other resources here – Land & Gavel Report

Seller Document Checklist (pdf)  <– Click Here to Download a copy of our Document Checklist.

For more information and to explore our services, visit at Wilson National LLC or Contact Us

Disclaimer: This information is provided for informational purposes only and should not be construed as legal or tax advice. Always consult with a qualified tax professional or intermediary before proceeding with any real estate transactions or tax strategies.