Finding the right piece of land to purchase can be such a challenging feat in itself when you are starting out farming. When you find what feels like the perfect plot of land, it’s normal to want to rush right into buying it and getting started. But, this is not the end of the process. It is critical that new farmers spend time really digging into what’s happening on the land and finding out whether there are any obstacles between you and your farm dream first. This process is doing your “due diligence.” You may be familiar with this in the context of buying a house. Buyers usually have a 30-day window to investigate the home to determine whether there are any issues with it that are a deal-breaker. This due diligence process is no less critical when you are purchasing farmland.
To learn more about the due diligence process and all of the issues that are important to research when looking at land to purchase, watch our webinar Practicalities and Realities in Farmland Law Session 1 of 2. This webinar was originally created as part of a two-part series for agricultural service providers, but it is also just as helpful for farmers themselves. Part 1 of this series explores farmland selection, farming financing and farmland leasing in three hours. The farmland selection section is in the first hour (starting at around 9min.). Start there to hear from Kathy Ruff from Land for Good and Rachel Armstrong from Farm Commons, as they dig into the details of due diligence including zoning, boundary lines, soil testing, water rights/access and more.