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A Farm of My Own:  Farm Auction?  |
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Lacy
True Blue Farmgirl
114 Posts
Lacy
Dallas
Texas
114 Posts |
 Posted - Jan 24 2006 : 11:35:22 AM
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| Has anyone ever participated in a FSA farm auction? We found this great farm that's being auctioned off next month, and we were REALLY excited, but being young and both city-dwellers our whole lives, we really have no idea what we're getting into!! We're planning on going down and seeing the farm this weekend, but all I really know to do is show up on the auction day! Any tips from some well-seasoned farmgirls? |
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westernhorse51
True Blue Farmgirl
1681 Posts
michele
farmingdale
n.j.
USA
1681 Posts |
Posted - Jan 24 2006 : 4:14:43 PM
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Hi Lacy, I wish I had some tips, know nothing about it but this site is loaded w/ farmgirls & I'm sure you'll get an answer. I just wanted to wish you luck. A farm staying a farm is the best and you'll learn. Good luck, I hope you get it. Michele
she selects wool and flax and works with eager hands Prov.31:13 |
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cajungal
True Blue Farmgirl
2349 Posts
Catherine Farmgirl Sister #76
Houston Area
Texas
2349 Posts |
Posted - Jan 24 2006 : 4:15:21 PM
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Lacy,
That does sound exciting.....oh, I hope you get it! I don't know much about auctions of that size. I've dabbled in some small auctions. The county or city office might be able to tell you what kind of paperwork you need handy. They usually expect the cash / cashiers check right then or by the end of the day. Sometimes it's a bit different if it is a sealed bid....that's rough because you don't know what someone else is bidding. Just bid to the highest you can and if it doesn't happen for ya' there's sure to be another great deal around the corner. Good Luck!!!
Oh another thought, check the tax records for an approximate value. This will also be good information for you to know how much future taxes might be. It may do good to find out if it is a tax auction, foreclosure auction, estate auction, etc..... If it's a tax auction, the tax office usually just wants to get whats owed....the tax record can help you there.
If the county is up to date on the internet, just go to their site and type in the address of the farm and the public record will pop up. You may also be able to find out if there is an agricultural exemption on the property or if it qualifies for one.
Find out who is handling the auction and call them up and say what you said here...you're new to the auction and want to know what to expect and what to bring.
Blessings
Catherine
One of the best compliments from one of my daughters: "Moma, you smell good...like dirt." |
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Lacy
True Blue Farmgirl
114 Posts
Lacy
Dallas
Texas
114 Posts |
Posted - Jan 25 2006 : 06:09:12 AM
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Well I called the county agency and they sent me some information... it's an old dairy farm that was subject to a forclosure lien, and has been vacant for a year and a half. We found it on the USDA farms for sale site, which has an appraisal of the value, but since it's a forclosure sale, they don't guarantee anything and that's a little scary! I'm not sure if we can even afford it, but we're going down to Comanche this Saturday to tromp around a little with our dogs and see if it's worth the work it's going to take!!!
http://farmaspirations.blogspot.com |
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MBurns
True Blue Farmgirl
1796 Posts
Marlene
Swisher
IA
USA
1796 Posts |
Posted - Jan 25 2006 : 09:16:29 AM
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We just went through an estate auction and one suggestion is to talk to a local banker. They can give you an idea of what farmland is going for an acre in your area also you should have some type of financing information as to how you plan to mortgage it and do you qualify for a mortgage. You might also contact whomever the auctioneer is going to be to see what you might need as far as paperwork. Also have an idea of how high you can bid and be able to finance it through a mortgage. Checking into what property taxes might run is good to know. Also are the taxes up to date. In my case the farmland and the farmstead were sold seperately. There was a description available to read about the details at the auction. You need to know if the leech field and sewer is up to code, are there any wells on the property and what is the water quality. There should be a disclosure statement that tells about these things. Land here in midwest Iowa is going for 3000 to 4000 an acre. We had over a dozen people bidding on the land and the farmstead. The farmstead needs a lot of cleaning up and the house is not liveable with a bad roof, plaster falling and the foundation needs repairing. That was 8 acres and went for 100,000 plus. One concern is not just the initial
value you pay for it but how much will need to make it liveable.
I grew up on a farm so have a good idea of what it is like. It may seem like a romantic idea but there are many realities you may not count on. How large is the farm? Do you plan to farm the land, rent it out? How far is it from the nearest town and your jobs? Just some things to think about. |
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cajungal
True Blue Farmgirl
2349 Posts
Catherine Farmgirl Sister #76
Houston Area
Texas
2349 Posts |
Posted - Jan 31 2006 : 1:50:42 PM
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Lacy
Just checking back in to see if there's been any progress with y'all. Any news about the auction? How was the place when you went to see it?
Blessings
Catherine
One of the best compliments from one of my daughters: "Moma, you smell good...like dirt." |
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Lacy
True Blue Farmgirl
114 Posts
Lacy
Dallas
Texas
114 Posts |
Posted - Jan 31 2006 : 2:03:09 PM
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The place was pretty great. The house on the property was in terrible shape, but we were planning on building a new house anyway. There was little water (we'd have to drill deeper wells), but there was a creek that passed through the property that was actually STILL running (which I'm sure you know is rare around Texas this season!) We're looking into financing options, to see if we can buy it now and perhaps pay it off while we're still in the city working, then move there in a few years and be debt free... or mostly so, at least! What was really the best thing to learn is that we LOVE the part of Texas it's in... it's sort of North Central (about 1/2 way between Waco and Abilene) and it's actually a thriving REAL agricultural community. And we got to chat up some of the other prospective buyers about what the land really needs in order to make it a working farm. They seemed to all think that it would take some "young folks like us" to get it running!
In any case, the grass was good (it was dead, but about 2 feet deep!) and most of the fences were still in tact. And in the words of one of the old cattlemen there "you could put about 40 head of cattle on it 'till summer with all this growth".
I'm sort of excited, but really apprehensive. I guess we'll really know more after we talk to the bank! I'll post pics of it tomorrow on my blog...
http://farmaspirations.blogspot.com |
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connio
True Blue Farmgirl
535 Posts
connie
springtown
texas
USA
535 Posts |
Posted - Jan 31 2006 : 2:06:43 PM
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Hey Farm Girls!!!!!
Lacy As another Texas Farm Girl (I have a tiny farm in Parker County which is NW of Fort Worth), I will be interested to hear what your experience is. I just moved from Dallas in 2003 after living in the awful city for 23 years---best move I ever made. Clean air, beautiful stars, peace and quiet. I believe that I can say that every farmer and rancher lives in fear of foreclosure and auction, especially at a time like this when we are experiencing drought and stock feed has tripled in price. You might check out Parker and Wise counties also because land prices and taxes are still low, but are about to boom.
I have 6.5 acres with a little rundown farm house, a very small barn and a partially completed polebarn (still needs to be sided). I mow hay on 4 acres and have an agricultural exemption. My annual property taxes are $513.00!!!!!
When you look at the farm, be certain to ask about taxes and the possibility of getting an ag exemption which will save you $$$$$$$$. If this property was used as a dairy farm in the last 5 years, there might be an existing ag exemption. Also ask about utilities, septic tanks and trash pickup. These items can cost you a bundle if you do not investigate carefully. Might also ask about mineral rights and gas wells since this is becoming a huge issue in North Texas.
If you have any other questions, please email me privately, and I will give you my phone number. I have learned a great deal in my move from City girl to Country girl and would be glad to share my experiences.
Connie
cozycottage |
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connio
True Blue Farmgirl
535 Posts
connie
springtown
texas
USA
535 Posts |
Posted - Jan 31 2006 : 2:24:05 PM
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Hey Farm Girls!!!
Lacy I think that we must have been typing at the same time--you in Dallas and me in Fort Worth where I work.
Sounds like a wonderful place. Here are more facts/questions for you. Ask if the well water has been tested. I have been told that well water in North Texas needs to be tested every 3 months to be certain that it is safe due to the fact that so much chemical fertilizer has been used in the fields. I do not use my well for this reason but rather use a tri-county coop water plan. I could tap into my well for non-potable water for an irrigation system, but I have not been able to afford this yet. Also, ask about the cost of drilling a new well; this can be extremely expensive.
When you think about buying stock like cattle, remember that there will also be vet costs, and there is a new federal reg that will require owners to register each animal. Have to also think about the fact that the creek could go dry and the grass could dry up and then you would have to purchase feed. Large round bales of coastal hay are now selling for $100 each; 2 years ago they were about $60 each. The cost of field wire or fencing has also risen by about 30% in the last 2 years. Many ranchers/farmers are having to sell of their herds that they have had for years because they can't afford to feed them.
I am not trying to discourage you; I try to convince everyone I know to move to the country because it is so wonderful, but I also want to give you some of the basic facts that I had to learn the hard way.
Connie
cozycottage |
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Lacy
True Blue Farmgirl
114 Posts
Lacy
Dallas
Texas
114 Posts |
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FarrarFarmgirl
True Blue Farmgirl
330 Posts
Lynda
Frohna
Missouri
USA
330 Posts |
Posted - Feb 01 2006 : 08:10:43 AM
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Happy Belated Birthday, Lacy. I looked at your blog and noticed that you had a "birthday warning" :o) You'll find no mention of age here. (LOL)
The farm you are considering certainly looks all that you say it is and I think the biggest discovery is, like you said, knowing without a shadow of a doubt that you love country living. The rest will follow in due time and there may even be something better just waiting for you if this one doesn't pan out. Timing is everything and God's timing is always perfect. Trust in Him to lead you to the right place and there you will find your heart and home. It's amazingly wonderful.
Please keep us posted as to what you decide. BTW, I personally think your artistic attempts at photography are wonderful. I just took a couple of pictures like that this weekend of beautiful tall trees against the sky. Isn't is awesome to try and capture the beauty of nature? And then there are some things that are meant only for the mind's eye. Many times I will see something that I think would make the most awesome picture, and I want to freeze that image so I can look at it over and over again, but then in my next thought I know there is no way I can completely capture all there is to see except just to soak it in and remember Who is the Perfect Artist. Living in Texas country will provide you with a daily photo album of beautiful skies and rolling patures and subjects to capture no matter where you choose to live. It will be so nice.
Take care and God bless you in whatever decision you make.
In His hands,
Lynda
Pray in faith and you will not live in doubt. |
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cajungal
True Blue Farmgirl
2349 Posts
Catherine Farmgirl Sister #76
Houston Area
Texas
2349 Posts |
Posted - Feb 02 2006 : 04:07:45 AM
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Lacy, thanks for updating us. Seems like you had a good time out there seeing the place and meeting people. I pray that God speaks to you with neon lights so you'll know just what to do!
Blessings
Catherine
One of the best compliments from one of my daughters: "Moma, you smell good...like dirt." |
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junebug
True Blue Farmgirl
2421 Posts
Sue
West Plains,
Mo.
USA
2421 Posts |
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A Farm of My Own: Farm Auction? |
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Farm Auction?
