One thing to consider is a land contract carries a little more headache for the seller
BUT
A lot of starting young farmers have a heck of a time coming up with the full cash or loan to buy a farm early in life.
A lot of you older guys on this board b*tch about the younger guys and there need for 'instant gratification', from my eyes a lot of that is in the older generations as well.
If you just want a check and don't give a cr*p who owns it, auction it off.
If you think it would be nice to get a younger guy or family on it, contract sale it to someone who you would like to see own it.
Just an example, do 10% down to secure a little $$$. Do a 20 year payment schedule, if you don't want to wait 20 year to get all the money, do a ballon payment in 5-7 years (whenever it should have enough equity for the buyer to get bank financing)
Its a little more headache for the seller, but the money can be equal or a bit higher to an auction price.
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Today's Featured Article - A Farmall Story - by Ed Meadors. The year was 1978. Our young family had recently moved to rural Chesapeake, Virginia to a plot of land which would finally allow us to realize our dreams of a huge garden, critters and more lawn and pasture than we would ever use! We needed a TRACTOR; not a riding mower or tractor wannabe, but a real TRACTOR. The answer to our needs materialized in the form of a '44 Farmall A, complete with cultivators, discs, single plow, a 5ft.Woods belly mower and one, mounted spare 9.00x24 rear wheel.
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