I've been writing about looking at farmland or buying farmland for the past couple of years and that I thought that dairy properties, or former dairy properties, represented a good value right now. I do believe that, and I'm in the process of purchasing one of those properties.
I wrote a blog entry a couple of weeks ago where I said that I thought that small dairy properties were undervalued; that they were available at what I considered to be bargain prices, often way less than replacement values. It represents a huge discount because of the state of the dairy market.
My offer for this former dairy farm, located about 20 minutes north of my main farm property, was accepted today.
|Click on the picture and look for the biggest barn . lots of space, lots of pasture|
|The farm office is located to the right of the bins. milking parlor far right|
|Pole barn, 15,000 sf, currently used for hay storage|
|back yard with orchard and fruit trees|
|circular driveway big enough for semi trucks|
|"small" steel framed barn, 12,000 sf|
|Hobby barn, set up for horses with stalls and paddocks and stuff. 1800sf|
I'd be all set if I wanted to own some horses.
|4br 2.5 bath house.|
|Big steel-framed barn, 25,000 sf. Sean posing for perspective|
My offer having been accepted, I'm having the property surveyed, house inspected, the water well tested and doing other due-diligence. I'm hoping that we can close this deal by sometime in march, but that depends on some things out of my control - appraisals and lenders criteria, as well as looking at the survey for encroachments and the inspection and the report on the well. At this point I'm not anticipating any issues, but there's always a chance.