Q:

What are some tips for buying a farm in Wisconsin?

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Quick Answer

Tips for buying a farm in Wisconsin include using local realtors and lenders, and selecting the right property classification. Sites that provide farm and rural land listings in Wisconsin include LandBin.com, the Farm Link section of the Minnesota Department of Agriculture's site and LandsofWisconsin.com, as of 2015.

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Full Answer

Using a local realtor is beneficial because those realtors tend to know the area more, including the history and the area's real estate market. Local lenders often have more knowledge of structuring rural loans, which are different than traditional real estate loans. Since locals usually possess a more thorough knowledge of the area than other people, they're able to help the farm buyer by providing him with information and sharing contacts in the area.

Property classifications for rural land in Wisconsin are open and closed. Open land entitles the owner to a break on the property tax. However, this type of land is open for the general public to use without getting the owner's permission.

One benefit of the Minnesota Department of Agriculture's Farm Link section is that it lists properties that already have the necessary infrastructure for livestock. To access the listings, visit the MDA.State.MN.us home page, and place the cursor over Animals. On the drop-down menu that appears, place the cursor over Livestock Resources, and click Farm Real Estate Listings on the menu that appears.

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