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Our rural experts can offer sound independent advice on all aspects of your farming business.

 

Farm acquisition and disposal

We were engaged by a retiring farmer to establish the market value for his dairy farm for private sale to a neighbour. Our client wanted to stay "in the area" or ideally in the house on the farm but understood this was at the new owner's discretion. During inspection for the valuation we discussed various options which got him thinking.

Recognising the long mutual respect between the two neighbours and the requirement for a tidy low stress transaction, it was decided that he would conduct a tender through either a real estate agency or his solicitor. The latter was chosen, with the majority of the property offered for tender. We presented various scenarios including the subdivision of two allotments, which was the preferred option as it allowed our client to retain the house as well as having another small property to sell in the future.

The net end result was that four strong tenders for the majority of the farm were received, with the neighbour securing it in conjunction with another neighbour - but at a premium price slightly above valuation due to the presence of competition. Our vendor client was able to retain the house and another small block, with the combined value of the three properties adding up to substantially more than if the house was sold with the farm. Our role was to add value to our client's property through researching and presenting different options, liaising with a surveyor to action the subdivision, working with his solicitor on the tender process and involvement as a consultant in the final decision making process.

Your rural property is a major asset which you can only buy or sell once. It is often prudent to investigate all options with an independent registered rural valuer before making any final decisions.