Below are the critical factors you must understand before writing offers or placing down earnest money.

1. Soil, Topography & Drainage

It’s not just land—it’s usable land. Look at soil quality (how well does it drain, how deep is topsoil, fertility, compaction), slopes, and whether portions are subject to flooding, wetlands, or seasonal standing water. A tract with steep slopes or poor drainage may drastically reduce what acreage is usable for pasture, crops, or building sites.

2. Water Access & Rights

Does the property have an existing water source—well, creek, pond? Is there legal access to that water? Are there restrictions on water withdrawal? Are there any permits required for livestock watering, irrigation, or pond construction? Be sure to inspect water quality and volume.

3. Utilities & Infrastructure

Rural acreage often lacks full infrastructure. Electrical, septic, water, gas, broadband—all may need extension or upgrades. Understand how far to the nearest utility lines, cost to run them, and local permitting for septic and well systems.

4. Access & Road Frontage

Check the deed: are legal access easements included? If parts of the property are “landlocked,” that could be a serious problem. Assess who maintains the road (county, private, shared) and whether the access roads will support equipment, livestock trailers, or heavy trucks.

5. Zoning, Setbacks & Permitted Uses

Even in AR zoning, there are restrictions: building setbacks, number of dwelling units allowed, accessory buildings, farm‐type enterprises (e.g. barns, greenhouses) and other permitted uses. Also, if you want to convert part of the farm to a side business—say a farm-stand, event barn, or short-term lodging—you’ll need to check if that is allowed or requires a conditional use permit.

6. Environmental & Easement Constraints

Are there wetlands, floodplains, conservation easements, or wetlands buffers? Are conservation or greenbelt programs active? Also verify if there is timber on the land with deed restrictions or logging agreements. Be cautious about easements—for example, power lines, pipelines, rights of way—that could limit where you can build or farm.

7. Existing Income & Lease Obligations

If farmland is already leased to tenant farmers or grazed, what are the terms of those leases, renewals, and rights? You don’t want to buy a property with no control over who is using the land for several years.

8. Taxes, Agricultural Valuation & Incentives

Check the property tax classification. Some properties qualify for agricultural exemption or preferential valuation (lower taxes) if actively farmed. That may have eligibility requirements (minimum acreage, evidence of production) and can revert if land is taken out of production. Investigate any incentive programs or tax credits available for conservation or farmland preservation.

9. Financing Complexity & Terms

Financing farms/acreage is more complex than a typical home loan. Lenders often require higher down payments, shorter amortizations, personal guarantees, and stricter underwriting. Many rural/agricultural lenders prefer that the buyer have farming experience, or that the property generate some income to support debt. Be ready with stronger documentation and contingency plans.

10. Market & Exit Strategy

Evaluate comparable sales (acreage prices, per-acre values) in your area. In Clayton, most farmland listings show a wide spread—some large tracts list at ~$24,993/acre on average. Also, have a clear exit plan: sell, subdivide, carry, or hold indefinitely. Avoid overpaying in hopes of speculative appreciation if your timeline is uncertain.