Olympic Peninsula Conservation Programs

Land Contract Guarantee Program

Program level:

National

Land use:

Agriculture

Provider:

USDA Farm Service Agency

Benefits provided: 

Free technical assistance

Water-focused program: 

No

Valuable tool to transfer farm real estate to the next generation of farmers

Overview

Description:

Guarantees will be offered to the owner of a farm who wishes to sell real estate through a land contract to a beginning farmer or a farmer who is a member of a traditionally underserved group. The guarantee provides an incentive to sell to individuals in these groups as it reduces the financial risk to the seller due to buyer default on the contract payments. Guarantees can be used for financing the purchase of a farm with a purchase price up to $500,000. Two types of guarantees are available: a prompt payment guarantee for up to three amortized installments, or a standard guarantee of the unpaid principal.

A land contract is an installment contract between a buyer and a seller for the sale of real property, in which complete ownership of the property is not transferred until all payments under the contract have been made.

Eligibility:

Guarantees can be used for financing the purchase of a farm with a purchase price up to $500,000 on a new land contract.

The guarantee period is for up to 10 years for either type of guaran- tee, regardless of the term of the land contract.

Financial benefit: 

Varies

Contact information

Contact person: 

--

Organization:

Phone number: 

--

Email: 

--

Information last updated on November 1, 2021.

Planning Importance

Developing a forest, agricultural, or conservation plan helps identify and prioritize objectives for landowners. These objectives can determine what type programs to search for. Supporting organizations in your area often provide free consultation and planning.

Landscape Characteristics

See how your land fits into the broader context of conservation, ecosystem services, and working lands values across the landscape through our interactive mapper tool. It could help you determine which program is right for you!

Contact Us

This tool is meant for you. If you have any ideas for improvement, are struggling to find something, are having difficulty navigating, or program info is incorrect or missing, please contact Rachel Santa Olalla and she will fix it ASAP.

Share Your Story

We would like to share your experience of how using the Conservation Program Explorer helped you find a program, how that program benefitted your land. Sharing with the community inspires others to benefit from programs as well. Please contact us for more details if you're interested.