Carter Jonas
Carter Jonas

For the best results – pick the right team

The major decision to sell a farm takes months of professional preparatory team work, with late spring to early summer often the best time to market a farm or rural property.

Selection of an experienced team of agent, solicitor, and accountant is essential to ensure that the asset is completely appraised and that the sale process can complete as smoothly as possible.

Priority initially has to be given to the rural agent advising on how to create best value for the vendor before the sales process commences. This will be accomplished by drawing on the expertise of our minerals specialists, renewables experts, and planners to see potential that other advisers miss.

Developing the holding still further is possibly not at the forefront of the vendor’s mind but purchasers will have an eye to what extra value may be unlocked from the property. Understanding the full potential of a property is essential to ensuring that the sale price is maximised. In order to achieve this, the team needs not only a full understanding of local and national planning and energy policy but also of local, regional, and national markets.

With the changes to Stamp Duty Land Tax (SDLT) on residential property in the Chancellor’s Autumn Statement, the proper lotting of the property to ensure residential units can benefit wherever possible from the lower four per cent rates applicable to commercial and mixed use transactions may do much to enhance purchaser appeal through SDLT reduction. Richard Liddiard explains this more fully in an accompanying article.

While this detailed financial and commercial planning is being co-ordinated by the rural agent, background activity will include discussions with accountants and lawyers on sale timing and tax planning as well as preparing a sales pack which will contain all relevant legal documents and any correspondence with any statutory body that is relevant to the property.

With the full potential evaluated, the agent will advise on the appropriate method of sale. Many investors will pay a premium in order to secure a property before it reaches the open market and this is explained in more detail in Richard Liddiard’s second accompanying article.

Andrew FallowsFRICS, FAAV

Partner - Head of Rural Agency

Andrew is the Senior Managing Agent for The Crown Estate having responsibility for management across East Anglia, East Midlands, Lincolnshire and Yorkshire. He heads the National Rural Agency team a...

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