Farmers want to be self-employed, but agriculture is gradually becoming so big and financially unmanageable, that it is more than difficult to realize the dream.
If you are a first-time buyer and have never bought real estate before or gave investment a thought, then there are many things for you to prepare for. Many questions to answer, both to yourself and to those who will finance you.
Is the dream a family farm, located near family and friends, or is a farm abroad an opportunity? Is the dream to become the owner of a hobby farm, where you can have a job along with it, or shall it be a big efficient business? Is the dream ecology or is it conventional production?
Once the idea of owning your own business has started to mature, there are some specific questions that you need to address very quickly.
A good idea is to start by checking out you self via this little checklist here
The questions may sound banal, but you have to think like an investor and it is essential to have answers to all the details and find a common denominator. Besides a lot of money, there are also many emotions at stake when the dream is to be realized.
After more than 15 years of mediation of agricultural real estate in Central and Eastern Europe, we have a lot of experience and advice on how to get through ‘the keyhole’.
In addition to the choice of the specific business etc., there is also the entire financing part and the mandatory paperwork that comes along with a transaction. A big unknown area for many new investors, and our advice is that you make use of the right advisors, - and better more of them. Investing abroad it may be difficult to find the right advisors with the right expert knowledge. E.g. a lawyer cannot be expert in all areas. It is essential to make sure, that he has the right detailed knowledge and expertise about the particular transaction you are going to deal with.
Subsequently, it is also important to get a second opinion from another lawyer. No one is known to be flawless and although the first lawyer has his education, experience and liability insurance etc., then it is best that another lawyer looks through the whole case with “new eyes" before signing. If later; errors or omissions appear in the transaction, then the lawyer may probably be economically liable, but errors may affect you negatively anyway. That's not all that is covered by insurance. So - even if you may use the best advisers, it does not mean that you do not have to read the documents yourself. On the contrary.
In a negotiation you can help the transaction on its way by constantly showing flexibility. Take good care of the counterparty's situation and make clear statements. But be prepared to make compromises. A good deal caters to both parties.
It's hard to find the perfect property - it may not exist at all, but over 15 years of experience as agricultural brokers in Poland, Latvia and Lithuania; we have built up a comprehensive network which we utilize to identify the best acquisition opportunities and to ensure that investors are helped through the complex process it is to identify and acquire the right property.
We offer professional sparring and network to ensure that you get the best conditions for establishing and developing your business.