Buying a farm or ranch should be a fun and exciting endeavor. Remember, the process is about you achieving your dreams, your desires, and your goals. Premier Texas Ranch Land will help you find just the right property for your requirements. Here are some points to consider when you search for land.
Decide what you want to use the land for. Will this be for your own use, a weekend getaway, or is your desire to create a business opportunity like a hunting lease? Your intended use, may determine specific requirements such as soil that is conducive to holding water necessary for a wildlife habitat and other considerations.
Establish a realistic and legitimate budget. Searching the current prices of similar properties around the area will be a guide to setting a clear guideline.
Choose an area in which you want to own property. Consider the distance and drive time if you do not intend to make it your full time residence or if you intend to create a business like a deer lease. Many people won’t drive much farther than two hours from home.
Do Your Homework
Do your homework by searching properties for sale and learn about the market in the area in which you want to own. Be very thorough. An experienced real estate agent like Jim Pendley and Premier Texas Ranch Land who specializes in farm & ranch real estate is a good source of the latest land market. Hiring an agent to represent you as a buyer can be a good idea considering the significance of such an investment.
Write down a list of questions that will provide the information you need to make an informed decision. Be sure to get answers to every question for any place you are seriously interested in. List them in order of importance to you. As you learn more during your search for a farm or ranch, your criteria may change as well as the things most important to you just by going through the process.
The more you are able to identify and articulate specific “must have” features and criteria, the better off you will be. Also, if you are working with a land-specialist, the better he will be able to serve you and present relevant options for your consideration. If you say to a land-specialist “I’ll know it when I see it,” you may be making it very difficult for him to help you find what you are looking for in order to achieve your goals.
Consider a Professional
Sometimes agents and brokers only present what they have listed or a buddy has listed. If you feel at any point in the process, that the people who are supposed to be there to help you are not fully focused on you and your needs, then it’s a good idea to re-evaluate your relationship with that person or persons. You need to find a trusted advisor who you can rely on to give you the best advice for you and your situation. Jim Pendley focuses on the needs of his clients first and keeps your interest ahead of his own. Jim will ask the question that are related to YOU, your family and your wants and needs as they relate to you buying farm or ranch land.
Narrow It Down
As you search through listings, try to eliminate as many as possible before you begin to visit the properties. If you try to see “everything” on the market it will be difficult, confusing, and overwhelm you with too much information. After visiting each property, compile and compare findings with the other properties you have seen. A couple of questions you might ask yourself, “If I had to choose between property 1 and 2, which would be right for me and why?” And, “If price was not a factor and it was specifically just about the property, its natural resources, the location, the terrain, land improvements, etc., which property would I choose and why?” Then, weed out the places that simply don’t fit your criteria list.
Let The Buying Begin
Once you’ve decided on the property you want to own, it’s time to plan a strategy for buying it. This is where a trusted advisor like Jim Pendley with years of experience in farm and ranch buying can provide a tremendous value to you. Your desire and motivation for owning the property will largely establish how you approach the purchasing process. You may want to make your best offer up front, by minimizing your contingencies, shortening your due diligence period and/or closing time line, thus make it as “clean” an offer as possible, or you may take a different approach. Don’t ignore your intuition or gut feeling. Have an open and honest dialogue with Jim, so that together you can figure out the best approach for your situation. Bottom-line is this… This is your opportunity, your deal, and ultimately your decision.
Contact Jim Pendley to help you buy your own farm or ranch land: (210) 386-5127