Future crp payments affect on land price


5 year old buck +
I regrettably may be selling my land in order to buy a new lake home with some acreage so I have a few questions. How will 13 yrs of future crp payments affect the listing price of my land? It is approximately 15 thousand dollars worth left on contract so I would think that would increase the value of the land but I know a farmer might not agree with that adding any value. Any thoughts?
Or just not let a farmer buy it ;)
Thanks. This is pretty tentative at this point but it's also a bit tough to think I would have to sell with the amount of work I've done. 10,000 trees, 8 acres nwsg, foodplots, campsite with beach, etc.. Makes me want to :(
CRP payments will affect the price. Good CRP payments will help, lower CRP payments will hurt. It depends on location and how long the contract is. Tillable will often be better for the sale, but it depends on buyer (farmer or rec land owner).
Keep it and buy the lake place!
Sounds good to me. I will pm you my address so you know where to send the check for the $90,000 down payment:)
I think the crp payments range from 65-90$ per acre. $1600 per year which easily pays for taxes on the land.
I am not sure it will have a huge impact either way - the biggest issue is will it scare off those that are not willing to screw with the CRP conditions for the money offered. Farmers essentially want evry inch of useful ground they can get their hands on (the gound could potentially yeild much more income than the CRP payment will generate from their perspective and having to possibly buy out that contract could be a negative). Depending on the CRP farmers may also have an expense in returning the ground to tillable acres. While wildlife nuts like us welcome the additionl income and resulting wildlife value but as soon as you mention "contract" and the "government" it tends to scare folks if they have not been around CRP before.