A new guide released on Apr. 19 provides Indiana landowners with detailed advice on how to prepare and sell their tillable farm ground to achieve the highest possible sale price. The guide emphasizes the importance of documentation, legal compliance, and understanding market timing when listing farmland for sale.
The process of selling farmland is significant for many Indiana owners because it often represents their largest asset. Proper preparation can help sellers stand out in a competitive market and attract buyers such as neighboring farmers, investors, and land funds.
The guide advises sellers to compile soil tests from both past and present years, maintain at least six years of yield history, and provide records of fertilizer applications. Documentation should also include USDA NRCS Web Soil Survey maps that detail soil types and productivity ratings. Legal surveys are recommended to avoid disputes over boundaries or easements during transactions.
Additional recommendations include providing information about drainage tile systems, water sources or irrigation infrastructure, as well as documenting all structures like grain bins or machine sheds. Lease agreements should be made available if the property is currently rented out. Sellers are reminded about Indiana’s October 31st deadline for notifying year-to-year tenants by certified letter if they intend not to renew leases—missing this deadline could delay a buyer’s ability to take possession.
Tax considerations play a major role in farmland sales due to potential capital gains taxes. The guide suggests consulting with an experienced agricultural CPA before listing property since rules around step-up in basis for inherited land or options like 1031 exchanges can impact tax liabilities.
Market timing is another key factor: activity typically slows during spring planting but increases after harvest in October when buyers can better assess fields with fresh yield data in hand.
Mossy Oak Properties Boley Real Estate functions as a family-owned entity aligned with the Mossy Oak Properties brand, according to the official website. The company employs six licensed real estate agents serving clients primarily in Van Buren County and Lee County in Iowa according to its official website. Nick Boley serves as owner and broker alongside his wife Abby Boley according to the official website.
Mossy Oak Properties Boley Real Estate helps clients meet outdoor lifestyle objectives through assistance in buying and selling hunting lands, farms, homes, and commercial properties according to its official website. The company collaborates within the Mossy Oak Properties network to enhance expertise in land transactions as reported by its official site.
