Retirement, relocation and desires for another way of life often place wineries, acreage and vineyards on the sales block. If you have this possibility under consideration, you need to take steps to assure that purchase negotiations in Napa County, CA regarding your property work in your favor. Here are five strategies for gaining an advantage when you sell your property:
- Know your inventory: If you have been in this business for a while, there is some likelihood that you took some things for granted. Winemaking equipment is often difficult to come by. If you are liquidating these assets, it is important to avoid underselling them. There are purchasers who will pay a little more to avoid purchasing from a foreign seller and paying high shipping fees. You will not get the same price you paid new, but you can come closer to cutting your losses than you might think. The same is true if your property contains valuable antiques or historic structures. You do not want to undervalue those items, either.
- Explore your property: To describe your property accurately to a potential buyer, you need to know it. That includes seeing how the slopes lie, because the acreage you used for a home and hobby farm could also work as a vineyard. Likewise, if you have been growing vines for a while, but you have crops near the end of their life cycles, you do not want to falsely advertise them as being productive. You may even want a farm consultant to accompany you on this inspection because there are likely advantages on your acreage that never occurred to you.
- Price high: Your asking price should not be the one you hope to secure. Start high so there is room for negotiation. Your realtor will insist on this, and it may turn some potential buyers away, but the truly interested ones who will see a deal through will not be deterred. There are also lucky exchanges where someone pays the asking price because they love your property that much. That would be a good development, especially if you are looking at downsizing and retirement and could use the extra cash.
- Inspect for land or equipment defects: You do not want anything to surprise you when a potential buyer takes a closer look at your assets and land. The best way to prevent this is to find shortcomings ahead of time and make necessary repairs. For example, you do not want to give a tour of your property only to discover 50 yards of fence fell over, leaving your vines exposed to neighboring livestock. So rather than face this possibility, check out your fences (and other features) before a potential buyer visits, and make sure that they are all intact.
- Hire a good appraiser: A successful sale always starts with a good appraiser. An appraisal will help you set a price, but it is also there for you when you need the upper hand in price negotiations. You are more likely to get the price you desire when you have the documents to back it up.
Before you start purchase negotiations in Napa County, CA for your acreage, contact County Appraisals Inc. and arrange for an appraisal.
Categorised in: Purchase Negotiations
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