Things to Consider Before Buying An Alberta Ranch For Sale
Buying a foothills ranch for sale or similar property in Alberta for agricultural purposes can be a complicated process, especially since a lot of research is involved before the purchase is made.
If you are in the process of considering an Alberta ranch for sale or farm auction in Alberta, here are some important steps you’ll need to take to ensure your investment is a sound one. For more information, you can access a legal guide with more specific details relating to your purchase.
View The Parcel Map
Looking over the parcel map will give you some of the data needed regarding road access and whether the property is landlocked. If it is, you’ll need to obtain legal permission from a neighboring property owner to use their property to get to yours if you don’t want to run into any future problems related to access.
Find Out Which Rights Are Included In A Foothills Ranch For Sale
If you plan to have livestock when deciding to purchase a foothills ranch for sale, access to sufficient clean water is important. For this reason, be sure to research any pipeline easements or mineral rights or other potential easement concerns granted for your property. The water and soil of the land that has been mined or contains pipelines could be negatively affected. Also, since mineral rights can be given to an individual who doesn’t own the land, you’ll want to make sure that you’re aware of any current leases that might be in effect. If there are mineral rights leases given for your property, check and see if there is a surface lease, and if so, what the terms are. All of these details could end up affecting your use of the property.
Another important thing before making a decision regarding farmland for sale is to check into riparian rights, which are the rights of landowners to use water that is on or runs through their property. This includes any bodies of water, such as ponds or creeks.
Order The Necessary Inspections & Tests
Any buildings that are on the property should be completely inspected to ensure their integrity. You’ll also want to ensure that the septic system (if applicable) is inspected and is in working order. You will most likely want to see records for regular service/cleaning of the holding tank and possibly a percolation test to show the function of the septic field. Water potability tests and flow tests are often required, especially if they will be used for residential purposes. You may want an environmental inspection if there are concerns about possible contamination. If you are considering purchasing from a farm auction in Alberta, you will want to perform all necessary inspections prior to bidding as most auction sales are firm deals for the highest bidder.
Find The Right Lender
Some lenders will not work with buyers who plan to purchase land for agricultural or livestock purposes, so make sure that your lender makes loans on ranches, farms, or rural properties. Your agent or broker should be able to direct you to several options if you’re unsure.
Find The Right Broker
When buying land for sale, it helps to have professionals in your corner that can help you navigate such difficult options. Our brokers at Hansen Land are here to help you make all the best decisions when considering an Alberta ranch for sale or bidding on-farm auctions in Alberta. Contact us today for more details or visit our auctions page to see how Hansen Land brokers become involved in many of these sales!