What is the threshold percentage change in sales price that allows termination of a contract if a new survey is completed on a farm or ranch?

The threshold percentage change in sales price that allows for the termination of a contract upon completion of a new survey for a farm or ranch is 10%. This threshold is significant because it offers both parties a measure of protection and allows them to reassess the value of the property based on new information. If the survey indicates a sales price change beyond this 10% threshold, it can imply that the property boundaries or conditions have altered significantly, warranting a reevaluation of the contract terms.

A 10% change strikes a balance between being substantial enough to merit consideration and not being so high that it could create unnecessary complications for both the seller and buyer. In real estate, particularly with agricultural properties where factors such as land use, access, and zoning may change significantly, it is essential to have such provisions to ensure fairness and transparency in transactions.