farm purchase agreement template" width="325" height="420" />Use our farm purchase agreement to sell farmland and its structures.
farm purchase agreement template" width="325" height="420" />
Updated September 29, 2023
Written by Josh Sainsbury | Reviewed by Susan Chai, Esq.
A farm purchase agreement covers the sale of a farm, including the farmland, the home, and other existing structures. Most states require the sale of land in writing, so a written farm or ranch purchase agreement is necessary if you want to buy or sell farmland.
A farm purchase agreement is a legal contract for selling farmland and its various structures and components. Some elements that may be part of a farm purchase agreement include farmhouses, barns, crops, and more.
Farm purchase agreements create a legally binding contract between the buyer and seller.
A farm and ranch purchase agreement is helpful whenever you want to sell or purchase farmland. Farms and ranches are valuable assets that you should protect with a comprehensive sales agreement. You must protect your buyer’s or seller’s rights when entering such an important transaction.
Situations that often call for a farm purchase agreement include, but are not limited to:
Buying farmland is usually a significant investment.
You want to ensure the terms of your agreement are in writing to avoid any disputes later. Such disputes can lead to costly litigation and the loss of your investment.
Most states follow the statute of frauds, which requires certain types of contracts to be in writing to be binding, including the sale of land. The agreement may be unenforceable or void if it’s not in writing.
When writing a farm and ranch contract, you can include the following elements:
Follow the steps below to write a farm purchase agreement.
Enter the date for your farm purchase agreement.
Identify the seller and buyer, who are the parties signing the agreement. Provide their full names and current addresses.
Then, indicate if the seller and buyer are individuals or entities, including the entity type if applicable.
Describe the purchased property and include as much detail as possible to accurately identify the property.
Include the property size, address, legal description, and whether specific improvements and crops come with the sale.
Write the amount of the purchase price the buyer is paying the seller for the property. Include details regarding earnest money deposit and method of payment.
Provide whether the buyer will assume the seller’s existing loan and whether the purchase is contingent on the buyer obtaining a mortgage.
Select the representations and warranties the seller will make under this agreement. For example, you can specify whether the seller knows of any environmental hazards or municipal liens.
Write in any other representations and warranties not already provided.
Provide the closing date and location. Indicate the seller and buyer closing deliverables and the seller and buyer closing costs.
Provide the date the seller will deliver possession of the property to the buyer.
Provide for miscellaneous provisions such as seller disclosures, property inspection, title insurance, and dispute resolution methods.
Both the seller and buyer will sign a farm purchase agreement.
View our farm purchase agreement template below and download it as a PDF or Word file:
