My family has a farm in the panhandle that has been inherited and passed down through the years. I inherited a portion after some family passed away. I am now interested in buying another portion of it from a great aunt that wants to sell her portion to make things easier for her children that don't have an interest in it.
I've done some prelim research, and have looked at the tax rolls for the land to come up with a reasonable price. Is there something else I should be looking at? Is there another way to figure a fair price? Can anybody advise on the process from here, assuming we can agree on a price? I assume a lawyer / contract would need to be involved at some point? Anything to note about minerals / wind rights?
Thanks and appreciate the advice any of y'all may have.
I've done some prelim research, and have looked at the tax rolls for the land to come up with a reasonable price. Is there something else I should be looking at? Is there another way to figure a fair price? Can anybody advise on the process from here, assuming we can agree on a price? I assume a lawyer / contract would need to be involved at some point? Anything to note about minerals / wind rights?
Thanks and appreciate the advice any of y'all may have.