Selling a farm can be an overwhelming process which takes patience and planning to complete.
John Robson, director of Robson and Liddle chartered surveyors offered his top five tips to help farm owners sell quickly at the highest value.
Timing is crucial to a successful farm sale.
Decide when your ideal selling time would be and plan backwards from there.
Even if it might be a few years away, knowing how much time you have enables you to formulate a plan of action before the sale can happen.
You need to make sure you are showing your farm at its best when potential buyers come to look around. While you can argue a working farm will not always look clean and tidy, it will need to be presentable. With this in mind, it is recommended to start marketing your farm in spring and summer when crops are flourishing and the farm will be looking its best.
Having all the necessary paperwork in place to give to the buyer’s team puts you in a strong position to move forward to contract stage at the earliest opportunity. This will reduce the risk of the buyer worrying about details and the sale consequentially falling through.
Understanding the tax implications of selling your farm needs to be considered at the start of the process.
Last minute realisations of tax liabilities will slow down the process or put the sale at risk.
A trusted professional team is invaluable for a successful farm sale. They will help you consider the sale from every angle, ensuring the process runs as smoothly as possible and any potential issues are addressed.