Get an independent estimate of the value of your land. It is almost impossible to be impartial about the value of your own farm, especially if you do not rely on actual sale data from the courthouse. Thus, retaining an appraiser or a real estate broker and get some facts to work with. You may start your search by contacting farmers, investors, real estate agents, state and federal agencies. The tips below will come in handy to prospective property buyers looking for rural land for sale southern Colorado.

Consider physical features of the place. Check the slopes on the ground, which will in turn affect your management options. The type of soil and sunlight exposure if you intend to grow crops, including grow fruits or vegetables. It is important to establish what the soil limitations are before buying the property. It is critical you view all information on the soil including type, classification, drainage and yield. The information can be obtained online.

Understand Property Rights. Typical easements include road, power and irrigation easements. Property rights issues encompass everything from identification and verification of ownership as well as ground use restrictions. Know who can come onto your property and to what extent. The fewer surprises you have after you close the better.

You need to establish what the investment will be once you buy the place, both physical characteristics and property rights will have a critical influence on the choice of property and price negotiations. Consider the assets on the farm such as fences barns Before buying in an area, find out if you have a marketable skill, one that is in demand in that particular region. Ask your agent to provide you with all the comparable sales data from the mufti-listing service if there is one.

Most of the folks who move to rural communities, without checking into how they will make money in the new location, have to sell their property at a loss within 5 years, due to lack of income. Where the previous property owner had stopped farming the property and the farm fell out of the taxable program. You can reapply for the special tax assessment as long as we prove that we are farming the property once again. It is tough to permanently lose the special farm tax status unless some drastic changes were to occur on your plot.

Consider the price at which the property is sold and mode of payment. You may consider the services of an estate lawyer to help finalize the transaction. This will prevent issues such as fraud. Be careful to set your payments so that you can afford the payments along with your current cost of housing. Make sure that there is no prepayment penalty on your seller-financing note.

Inquire with the relevant authority before buying the property on the mapping of the minerals in the area. Mineral ownership can be important to farm buyers, especially when less than half of the minerals transfer with the ownership. A mineral owner, or the lessee, can enter the property to extract the minerals, without obtaining permission from the owner.

Endangered species regulations or the presence of wetlands can limit land-use options. Federal law protects designated endangered species and requires the preservation of their habitat. It is helpful for the buyer to be aware of existing endangered species habitat and to know about threatened species that may acquire endangered status in the future.

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