Auctions make sense for farm land!
When it comes to buying land for farming, recreational use (hunting, fishing, camping, homesteading, horseback riding, ATV riding, etc.) the choice is clear – Think Auction!
What is the best way to sell a property of this type?
If the land can be split into multiple parcels, a multi-par auction is most often used. This allows for the property to be sold in different tracts, combinations, and as a whole. Professional auction clerking software is used to record the various bids. This method will generally produce the highest return for the seller.
Another auction method is to sell the assets or land parcels via high bidder’s choice. This pits the bidders against each other, with the ultimate high bidder allowed to pick their choice times their bid amount. This method can also be very successful provided there is interest in multiple properties. Competitive bidding will drive the sales price up.
Due to the recent increase in fracking, Ohio has become a major player in the oil and gas industry. It’s important to hire an auctioneer who has experience in selling mineral rights at auction and how to obtain the most dollars for them. We can certainly help! The Ohio Oil & Gas Association may also be able to provide assistance.
How can I buy farm land?
Hiring an experienced auctioneer like Michael Hoffman can help. With over a decade of experience, he can assist you with understanding the process and terms involved. Call Michael at (614) 314-0298 if you are in the market of wanting to buy farms, recreational land, or agricultural assets.