Winter is not always seen as the best time of year to buy and sell certain types of real estate.
Don’t be too quick to include farmland in that category, though. You may be surprised by what types of deals you can find when you are in the market to buy or sell farmland in the winter. There are plenty of benefits for sellers who are active this time of year, too.
We have plenty of resources for buying and selling land in general, but in this article, we will cover some of the factors that make winter a good time of year to either buy or sell land.
When traditional real estate markets peak in the Midwest
For some people, the idea of trying to buy or sell real estate during the winter seems a bit like backwards thinking.
This line of thought comes from the fact that traditional residential real estate in the Midwest peaks in May and goes a little cold from October through February, It’s also no secret that when it comes to houses, selling in the winter can be one of the hardest times of the year to get it done.
Don’t ignore agriculture real estate markets in winter
But for this article, we aren’t talking about the challenges of buying and selling a home in winter. No, we are focused on the agriculture and land markets.
And it’d be a bad decision to rule out trying to buy or sell this type of land in the winter. In recent years, winter has been a fairly steady time for some land markets.
Let’s get into why you might want to buy or sell land in the winter and what you should do if you are ready to put out the for sale sign or go looking for land to purchase.
More buyers may be actively searching in the winter
Homebuyers tend to relax a bit and put searches on hold in the winter. The same can’t be said for individuals looking to buy land.
That’s because these people are likely businessmen and businesswomen who are looking for the right opportunity to expand their farming or other agricultural operations at all times of the year. They likely do not want to miss a great deal or great land that comes up for sale.
This motivation is something you can take advantage of.
The search for land to buy has moved online
Another reason you should still list land for sale in the winter is that the search for land has, for most people, moved online. At least the early stages of the process have.
It used to be that people sort of settled in for the winter because they wouldn’t be able to go out and lay eyes on the land themselves. Thanks to the internet, though, this isn’t a problem anymore. More and more people are starting to check online websites and resources to see what land is available.
This means that buyers may always be looking for that great deal they have been hoping would pop up – no matter the time of year.
Winter may help your property sell
Believe it or not, some land actually may perform better if it’s put on the market in the winter.
There are a number of reasons for this, one being that certain flaws of the land in question may not be as noticeable during the winter.
This works the other way, too. Certain characteristics of the land that are desirable may be easier to recognize in the winter. Think of ease of access and whether roads to the property are cleared during the winter. If either of these are a plus for your property, the point can be emphasized in winter.
Work with an experienced realtor, especially when buying
Your first step for either purchasing or selling farmland in the winter is to work with a trusted realtor who is knowledgeable of the land in the area you are looking at.
There are a few reasons for this. First, if there is snow on the ground, you are not going to be able to get a very good look at the quality of the land unless you’re ready to do some extensive digging. That means you need a realtor who knows about the area and which land there is considered quality and what might be a parcel to pass on.
Second, by working with a realtor who knows the area, you might be able to find a better deal because they will not only steer you in the right direction on what might be a competitive offer, but also they are a familiar face to sellers.
Ready to buy or sell now? Here are your next steps
So, you are ready to dive in and either buy or sell farmland in the winter. What’s next?
Well, you first need to talk to your bank and make all those required arrangements. If you’re buying, get your banker involved in the process as soon as possible. They will be able to work through all the necessary paperwork and due diligence to let you know whether you truly are in a position to buy.
Also, while it might be tempting to make an offer on and snatch up what could genuinely be a good deal on land that’s for sale in the winter, a banker, financial advisor, farm management partner or other trusted individual can help you truly determine whether expanding operations is a good idea even if it is for a good price.
If you’re selling, then you still will want to involve those same individuals in several important discussions. They likely will be able to help you determine how a sale at certain price points might affect your future goals and business operations.
It’s time for you to Get The Advantage
Both buyers and sellers need to have the best real estate team possible on their side. Partner with Advantage Realty and Land Management to get the best representation – and best results possible – no matter what side of the transaction you’re on.
Contact Advantage Realty and Land Management today to get the conversation started.