What you need to know before you sell your ranch

Looking to sell your Texas ranch? Ranches are complicated sales transactions that greatly differ from the residential real estate process. In order to maximize your revenue and keep the process as stress free as possible, follow the tips below!

Learn the value of your ranch at our Ranch Valuation Tool. 

Hire an Experienced Land and Ranch Specialist

What you need to know before selling your ranch

The key to successfully selling your ranch is simple: find a qualified land broker who works with your long-term goals in mind. When it comes to large land sales, look for a broker who empowers you to make informed selling decisions, has insight in local market dynamics, and understands the value of farm and ranch living. Legacy Broker Group’s mission is to empower you to create a lasting land legacy, and this value drives each and every one of our team members. From rodeo queens to fourth generation ranchers, Legacy Broker Group is staffed with Texans who have firsthand experience with the farm and ranch lifestyle. Our land and ranch specialists are positioned in various regions throughout the state of Texas, so they can offer insight and expertise on market conditions, government regulations, and upcoming development in your area.

Organize Your Finances and Know Your Rights

What you need to know before selling your ranch

After hiring your ranch broker, get your finances in order. Selling a ranch involves several moving parts and serious financial implications, so ask your tax advisor how your sale could affect your taxes and income. If your ranch is a full agriculture or livestock operation, your tax rates may be distributed differently based on land, equipment, structures, and livestock. Another layer of taxation may be added if your ranch is owned as an LLC, partnership, S Corporation, or C Corporation. Aside from taxes, it’s also essential that you understand what compensation you could qualify for based on your property’s mineral rights, hunting rights, easements, water rights, etc. Researching your land’s rights is an intricate process that you can learn more about here. Part of researching your land rights is identifying who holds ownership of your property’s deed. If you’re selling the property and hoping to maximize your profit from the transaction, make sure that your name is on the deed rather than the previous owners. Whether you’re upgrading to a new piece of property or moving into a new season of your Texas land legacy, efficiency and organization are key components of any real estate sale.

Our mission at Legacy Broker Group is to provide you with tools and resources to understand the market factors affecting the value of your ranch property, arrive at a fair market price for your property, and determine the best marketing channels and tactics to get your land or ranch in front of willing and able buyers. Get started with our free property appraisal form here.

 

Posted by Richmond Frasier • Broker on

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