Useful Documents for Selling Your Farmland
Each of the items below can be a helpful piece of information for Whitaker Marketing Group’s valuation team, and many of them are necessary to close the sale of a farm. However, collecting all the items below is not necessary to begin the process.
If you would like to speak with a farmland analyst from Whitaker Marketing Group who can help with the process, please call us at (515) 996-LAND or email us at firstname.lastname@example.org.
Descriptive Information – In order to get started, some basic information is necessary. This can include things like:
Number of total acres and number of tillable acres
Nearest town or city
Section, Township, Range (Address)
Access (is the farm on a highway, or is it difficult to access)
Ownership structure (is it in an LLC, do you own it alone, or are there multiple owners)
Rent information (how does the current farmer rent the farm and for how much)
Current and historical crops grown
Digital Farm Maps – These can be simple maps from Google Maps, County Assessors website, FarmlandFinder, or, and/or from any additional mapping software you have available.
Additional Maps – Maps that have notes printed or written on them are always useful. For printed copies, simply scan or take pictures with your phone and email them to us. Additional mapping information like parcel number (s), section, township and range or FSA field and tract information may also be helpful if available.
Comparable Sales – Whitaker Marketing Group does its own research on sales of similar properties in the area of your farm, but we always welcome additional data and commentary regarding recent farm sale values in the area.
FSA-156EZ – This document may be picked up at your local Farm Service Agency office; it shows historical information about cropland amounts, acres enrolled in government programs and yields for your farm.
FSA-578 – This document, also available at your local Farm Service agency office, shows planting records on your farm for an individual year; sharing the last several years’ planting records is useful for understanding what crops have been grown on the farm.
Crop Insurance Records – This document helps verify the Actual Production History (APH) for a farm and can be obtained from your crop insurance agent.
Crop Yield Records – Any further verification of yields possible on a given farm. This can come from delivery tickets at the grain elevator, yield maps, rent checks, or any other summary data.
Recent Soil Tests or Maps – Any soil sample maps or texture typing that has been done on a farm is helpful to understand what the fertility, water holding capacity, and drainage are on a given field.
Irrigation and Water Resources – How many wells are on the farm, what is the output and depth of each well, and how are they powered? In addition to wells, be sure to include whether the farm has surface water irrigation, what type(s) of irrigation systems are on the farm, and any water rights that are associated with the property.
Additional Water Management Information – If your farm has had land leveling work performed, has drainage tile or additional water management considerations, please provide any information available.
Government Programs – Are any acres signed up in the Conservation Reserve Program (CRP), Wetlands Reserve Program (WRP) or any other government program? If maintaining certain standards on a portion of the property are required by any government programs, please provide descriptions or documentation of each program as available.
Abstract Location – Many people don’t know where their abstract is kept. When selling farmland, we will need to have the abstract updated. The selling attorney will give a clear title by reviewing the abstract for any encumbrances or encroachments.