Latimer, Iowa (north central) | Is land selling privately any different then all leases not being taken to a public rent auction every year? Not everything is about maximizing value. The landowner, whether selling it or renting it out, has a relationship with the purchaser or tenant and a fair price to both parties was agreed upon. 15% of the land our operation has purchased in the past few years was at public auction, the balance was purchased privately. All of the land that we sold was privately.
We looked at what land had been selling at on auction in the area, offered a price, bought the farms. Same as land that we sold to settle an estate. Had a interested, good young family that wanted to live at the acreage and sold them the 100 acres with it for a fair price for everyone. Had both of ours main realtor give a number that she thought it was worth, and that number worked for both parties. Could of it brought more at auction who knows? Could what we bought been higher or lower? Nice to cut out the commissions and drama of an auction for everyone though. |
10 years from now
