2018 Auction Season Winding Down
December 10, 2018
Land auctions typically slow down as we approach mid-December
and the year-end holiday season. Many sellers who sell after harvest want to be
able to close the sale and have their proceeds before year end. Others who wait till later in the last month of the year may not
need to close in the current year, but still want the sale to happen sooner
Farmers National Company land auctions this fall and early winter have gone
well. Depending on the quality of the farm and the competitiveness of the area,
sale prices have generally met or exceeded expectations for the seller. Farmers
National Company agents work diligently to provide a realistic view of the
local land market so that sellers can set their expectations for the sale price
that will result in a good sale for them.
There have been a few delayed sales where the sale did not happen at the
consummation of the auction, but did happen after one-on-one negotiations with
the interested bidders. Price expectations were not met at the auction that
day, but buyer and seller came together on an agreeable price in a short time.
Auction season kicks off again in early January at Farmers National Company as
we have sales booked in January and through spring tilling and planting. For these
auctions coming up, sellers usually are trying to close the sale and transfer
ownership so that the buyer has possession for the new cropping season.
President - Real Estate Operations