Well why indeed? Are you farming the land? Are you raising cattle on the land? Do you have plans of building and moving there in the future? Chances are you inherited this farm land and have no intentions of doing any of those things. You’ve been paying taxes and upkeep all this time and not getting anything from it except saying “I own some farm land that was left to me.” And how often does that statement come up in conversations?
Now, economic times being what they are, your employer had to down size and you were one of the victims. You have been doing ok making it financially so far. You’ve been paying the mortgage, the utilities and the other monthly bills okay. You have been able to keep up the maintenance on your primary residence too.
Now somebody in the family has a health issue and the medical bills are adding to the other bills now. Your car needs new tires and then you get the tax notice on this farm land that you’ve only seen once! Plus the bill for the monthly mowing you’ve been paying somebody is due too.
You thought you could use your retirement fund for survival, but it isn’t available so you can’t withdraw any funds or even borrow from it right now. So what do you do now? How are you going to make ends meet while you’re looking for a job? Sell that farm land!
That’s right, sell that farm land. While you and many others are struggling right now, there are people out there with cash that are looking to purchase land just like you have. Is that farm land doing you any good sitting there right now? Think how much money that inherited land is costing you year after year.
How much are you paying in taxes, for maintenance and upkeep? Since you aren’t farming or have a ranch on the land, you aren’t even getting any write-off from it either. Why keep that albatross around your neck? Sell the land that is useless sitting there and get you the cash you need to pay bills and get your head above water. After you get back to work, you’ll be ahead already because you won’t have that extra expense then!