Considering selling farmland in Iowa? It seems that 2015 has been the year of the exchange buyer. Lately it seems the majority of our buyers have been exchange participants and sometimes locating replacement farms takes a little extra digging on our part. We wanted to tell you about a couple buyers we are working for to locate suitable replacement farms for.
What makes a farm suitable? Thats up to the buyer, they each have their own criteria with a farm purchase but any farm can be a replacement in the 1031 process. Selling to an exchange party requires no extra work or expense on your part, just a little patience while the buyer gets all of the correct paperwork done on their end but the closing process will very typically be no different on your end as a seller.
DreamDirt has been working with several buyer clients that have sold properties and are looking for new investments in farmland across Iowa. These clients will be using a 1031 Exchange to purchase new farmland and our current buyers include one buyer with $7,000,000 to $10,000,000 in exchange funds for purchase of farmland. He would like to purchase farmland in one or two locations. Ideally the farmland would be located in one local are but he would consider splitting it into two different locations.
Another buyer has $3.2 million in 1031 funds for a farmland purchase. Ideally he would like to be north of Interstate 80 and 70+ average CSR. Locations can be varied.
Another buyer would like to trade up to a larger farm, with $1 million in trade funds and bank financing he is looking to purchase and 80+ CSR farm of all tillable acres, no waste acres.
If you are interested in selling similar farms or know of farms that might meet this criteria call Jason Smith (712)592-8965. We would gladly co-broke with other real estate brokers as well if you have a listing that fits any of the above buyers. If you would rather email us send an email to email@example.com and we'll get back to you.