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Grasses, Pastures & Hay
Purchasing farmland
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<blockquote data-quote="Sd1030" data-source="post: 1620612" data-attributes="member: 23833"><p>Good evening, first off it's been awhile since I've been on here, with that being said I've got a question concerning a potential farmland purchase. I've come across a piece of property that is 175 acres with roughly 60 acres in pasture, the remaining land is a mixture of hardwood timber and 9 yr old planted pines. It does have a 1.5 acre pond and two creeks that run through the property. The property has a cell tower on it that the owners have sold the rights to the tower to a 3rd party company, this is where things get interesting. In the contract with the company that has the rights to the tower it states that they have the right to move there easement at any time and anywhere they chose on the property. After learning this I'm being informed that it isn't likely this land wouldn't be able to be built on. They owners have tried to resolve this issue but haven't had luck. At this point it looks like they are considering selling it at a reduced rate since it is only farmland. I have a interest in it because of the price point and I need more land for pasture. My question is would it be a drawback to buy it knowing it's only farmland from an investment standpoint? Have any of y'all ever ran into this before? It's looks like it's possible to get it for around 1500/acre. Thoughts and input would be much appreciated.</p></blockquote><p></p>
[QUOTE="Sd1030, post: 1620612, member: 23833"] Good evening, first off it’s been awhile since I’ve been on here, with that being said I’ve got a question concerning a potential farmland purchase. I’ve come across a piece of property that is 175 acres with roughly 60 acres in pasture, the remaining land is a mixture of hardwood timber and 9 yr old planted pines. It does have a 1.5 acre pond and two creeks that run through the property. The property has a cell tower on it that the owners have sold the rights to the tower to a 3rd party company, this is where things get interesting. In the contract with the company that has the rights to the tower it states that they have the right to move there easement at any time and anywhere they chose on the property. After learning this I’m being informed that it isn’t likely this land wouldn’t be able to be built on. They owners have tried to resolve this issue but haven’t had luck. At this point it looks like they are considering selling it at a reduced rate since it is only farmland. I have a interest in it because of the price point and I need more land for pasture. My question is would it be a drawback to buy it knowing it’s only farmland from an investment standpoint? Have any of y’all ever ran into this before? It’s looks like it’s possible to get it for around 1500/acre. Thoughts and input would be much appreciated. [/QUOTE]
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