Most of the work that determines a launch’s success begins with the initial phone call between broker and seller. For landowners beginning to think about a future sale, considerations arise throughout conversations about goals, history, finances, and, of course, the market.
Operations and Documentation
Conversations centered around farm or ranch operations and the documentation of such is the launchpad for gathering information that a serious buyer and their advisers will want to access quickly, as soon as a property is under contract; any ambiguity will slow the transaction. The work to resolve any potential issues is best done as soon as possible when the selling process begins.
Water rights should be reviewed and documented. Leases, easements, and conservation frameworks should be collected and prepared for sharing. Survey and boundary or fence line information may need to be confirmed. Mineral and surface rights and any severances should be understood. Operational agreements, including grazing, hay, outfitting, or home leases and personnel, should be accurately represented. Personal property may be a consideration and the inventory described. Utilities, profit and loss statements, vendors and third-party contracts, oral or written, will need to be gathered and documented.
This is often where Hall and Hall’s advisory services including finance and farm and ranch management, may be of use to both sellers and buyers. Bringing specialist judgment to bear on the areas where buyer scrutiny will be highest is time well spent.
