It’s imperative that you know the soil composition before purchasing farmland. Ask the seller for a recent soil test, and if they haven’t had one done, arrange for a laboratory to analyze the soil content. Loam is an ideal soil type for farmers as it holds water well. Clay holds too much water, and sand doesn’t hold enough water, so these soil types would need to be amended. Consider the forage type when buying farmland—western wheatgrass, blue maidencane, giant cane, switch cane, green silkyscale, and many varieties of bluestem are suitable forage for cattle, horses, sheep, and goats. Find out how much of the land is grazeable, and how much is not. Look for less than 30% rock cover to ensure your livestock will have enough forage available. Ask the seller or realtor what kind of irrigation and drainage systems are in place. Look for access to a high-quality water source, such as a well or river for crop irrigation or watering livestock within 1 mile (1.6 km). You should also find out how much erosion damage the land has. Inspect the ditches to see if they are clean and find out if they are able to handle the average amount of precipitation. Field history refers to what kinds of crops have been grown as well as what kinds of herbicides have been applied to the land. If you plan to raise livestock on the farm, ensure that the herbicides used in the past won’t affect the animals. Though most herbicides are safe to use on forage, you should still do an Internet search to find out if there are any grazing restrictions for the particular kind of herbicide used.  If you plan to grow a certain crop, make sure it will work well together with what has previously been grown based on which nutrients the plants use the most. For instance, if beans were last planted on a plot, tomatoes would do well in the area but lentils would not. Take a close look at the fencing, buildings, pastures, lakes, ponds, wells, and roadways of the property. Determine if they are in good repair or if they will need fixed or upgraded. You should also evaluate whether the existing facilities, plumbing, and electricity will meet your needs or if you’ll need to add new infrastructure. Find out if the rights to gas, minerals, and wind have been severed from the surface rights of the property. The seller and/or realtor should be able to answer any questions you have about property rights. Ideally, gas, mineral, and wind rights should transfer to you as the buyer, but this isn’t always the case. If the rights are already leased out, go over the terms of the contract with a lawyer to ensure you are happy with the agreement. The most important factor when evaluating farmland is the amount of revenue the farm is making. Chances are, if the farm isn’t making money now, it won’t make money for you in the future. Visit the nearest farm service agency (FSA) office to learn more about the farm’s revenue. You’ll be able to view past records for the property. Though you’ll have to pay to have this done, it’s an essential step to protecting yourself as the buyer. The property, facilities, and infrastructure should be inspected and appraised by professionals so you can make an educated decision about the value of the property. They’ll let you know if there are any issues with both the land and the facilities. Appraisals generally cost between $300 to $400, while inspections usually cost between $200 to $400, depending on the location and amount of land.
Purchase a farm with loam soil if you plan to grow crops. Look for high-quality pasture grass if you plan to raise livestock. Evaluate the irrigation and drainage capabilities of the land. Ask about the field history. Inspect the facilities and infrastructure for damage. Determine ownership of the gas, mineral, and wind rights. Find out how much revenue the farm is making. Get the property professionally inspected and appraised.