How does the purchase price paid by Ceres for farmland compare with the average sales price paid by others?
Generally speaking, Ceres pays less per acre for its land than other farms in the same areas. This is due to the fact that properties are often brought to our attention by our existing network of farm contacts before they are ever officially listed with a realtor. Also, because of our ready source of funds and established borrowing lines, we can get farms under contract while others are still scrambling to find funding. Finally, at times we may purchase a large tract of farmland for an overall lower cost as compared with someone who is willing to pay a higher price for a small parcel within this tract; a concession is granted to the large-scale purchaser.
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