Selling Your Virginia Horse Farm

You've finally decided to put your farm on the market.

Whether you are locating to a warmer climate, expanding your business, or even downswing, you deserve to get a fair price for your current property.

The following 12-Step Program will help you sell your property quickly and ensure you get the best possible deal.

Step One: Assign a value.

An experienced farm realtor will help you set a realistic asking price based on several key factors: the current market in your location, the condition of your home, and desirable facilities buyers look for, such as an indoor arena, access to trails, or heated wash stalls.

A real estate agent may perform what is called a CMA (Comparable Market Analysis) that will compare similar properties sold in your area over the last 12 months.

Step Two: Hold a yard sale! Now is the time to get rid of all that junk you've been storing over the years.

Horse owners tend to collect everything from rusty farm equip-ment to used tires.

Consider hiring a firm that specializes in junk removal and get rid of everything you won't be taking with you.

Step Three: Create curb appeal. Real estate agents know that a buyer's first impression can very well make or break a sale.

Your welcome sign should be bright and cheerful, fences should be painted and in good repair, and holes and dips in gravel driveways should be filled, eliminating unsightly puddles. Keep the grass mowed, shrubs trimmed, and repair those crooked gates.

Step Four: Spruce up the barn. Replace loose or missing shingles.

Repair sticking stall doors and check all locks and hinges.

Replace old dusty light bulbs and remove debris from electrical outlets.

If you can do so safely, use a wet/dry vacuum cleaner to remove dust and debris from the hayloft. aisles and stalls.

Remember to protect your horses' respiratory systems by turning the horses out before cleaning the barn.

Fill and level stalls if needed and throw away any broken rakes or cracked muck buckets.

Step Five: Manure happens!

Consider hiring a local farmer to remove the manure pile before putting your property on the market or hire a waste refuse company to remove it weekly.

Step Six: Prepare the inside of your home.

Give rooms a fresh coat of paint.

Neutral colors are best. Remove furniture cluttering the rooms.

It doesn't hurt to leave a little scented potpourri around the house, either, to cover up the odor of your muck boots!

Step Seven: Boast a bit.

Every property offers something special to potential buyers.

If your property boasts a sand dressage arena, a grassy cross-country course, or access to miles of forested trails, consider hiring a professional photographer to capture equestrians enjoying these amenities.

Leave a photo album, a collage of photos, or printed flyers out for interested buyers.

Step Eight: Discuss privacy.

This is a very important issue if you are currently running a boarding or training facility.

 Discussing your needs with a reputable real estate agent will help to keep your business running smoothly during the transition.

Step Nine: Show your house.

A good real estate agent knows to give buyers time alone to explore the property on their own.

Leave fact sheets where they will be readily available to buyers, perhaps on the dining room table or kitchen counter.

Make sure pets are removed from the house.

If your Jack Russell terrier has never welcomed visitors, now is no time to leave him in the house!

Step Ten: Know beforehand what offers you might consider.

Some buyers will offer full price if the seller agrees to pay some or all of the closing costs.

Remember, there are many different factors to consider when negotiating the sale of a property, including financing, buyer preapproval, and even occupancy date.

Your real estate agent will help to guide you through the process.

Step Eleven: Educate yourself on farm financing options.

Leave the information you have gathered on the table with your property's fact sheet.

Step Twelve: Once you are ready to sign a contract, make sure you read it very care-fully and discuss it with your lawyer.

Never sign a contract until all of your questions have been answered in full.

Remember, until the contract is signed, you can still negotiate.

By Karen F. Baril