Buying rural farmland.. what process?

Hi All,

We (the husband & I ) are buying a block of rural farmland in nsw and really wanted some clarity on what process to follow. The block doesn't have any dwelling on it but we are planning on building a house. The questions:

What is the general purchasing process for farmland?
Do I need a solicitor?
Is it beneficial to form a trust and buy through it rather than individuals
Any hidden costs I need to be aware of?

We are newbies to the property market and have never bought any land or a house before.

All help is appreciated
 
Hi All,


Do I need a solicitor?
Is it beneficial to form a trust and buy through it rather than individuals
Any hidden costs I need to be aware of?

Bloody oath you need a solicitor. Farming land often comes in multiple titles, multile easements, licences, water rights etc. Get a solicitor experienced in rural conveyancing.

You need advise on the trust front too. Many more issues when considering farming land.
 
make sure the land has a building entitlement, not all rural land does

if it does have a building entitlement check what the cost of getting services such as electricity is and whether there are any extra requirements for building because of bushfires

check your access

you will also have noxious animal and noxious weed responsibilities. You should check whether these are likely to be a problem

http://www.lawsociety.com.au/cs/groups/public/documents/internetcontent/572452.pdf

http://www.northerndailyleader.com....ontrol-st-johns-wort-ends-in-costly-decision/
 
Why? is it to be your ppor/lifestyle or as a farm?

Urban village or middle of nowhere?

How big?

With or without improvements eg dams, felled timber, pasture improvement etc

As a farm, what do you intend? Dairy/beef, sheep, goats, cropping, mixed farming, poultry, aquaculture.

What dse are you considering if you intend animals?
 
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