Whether your farm has been handed down by family members for generations or you have put in your own hard work on the land throughout your life, you likely have a deep attachment to it. So deciding to sell your farmland can be a tough and emotional decision.
What can seem more confusing is that the sale of farmland is not always cut and dried. Whether you’ve inherited the land and have no interest in it, or you’ve worked the land your entire life and are ready to retire, you need to know how to get the best price for the real estate.
When we think about selling real estate, the first thing that usually comes to mind is a realtor and a "For Sale" sign. However, we don't as easily think of auctions (likely due to the false stigma that real estate auction sales are only for properties owned by the bank or for desperate sellers). The reality, however, is that over the past several years, auction platforms have seen a steady increase of homes being sold through auction and more buyer engagement from these sales.
When considering an auction to sell your home, you may be wondering what it looks like and what the benefits are in doing so. That’s why we’ve put together the following article to help you navigate selling your home through an auction company. Let’s get started!
The passing of a family member or other loved one can bring numerous stresses. It's never easy to lose someone you love, and the stress and grief that comes with the death of a parent, family member, or close friend can make an inherited property seem like more of a burden than a blessing. Not too mention that with the gift of an inherited home or real estate comes several issues to work through relating to paperwork, legal issues, and taxes.
But navigating through difficult decisions can be somewhat easier if you are informed about the financial benefits and challenges, including taxes, that accompany your inheritance of a family home.