WV Farm Bureau Magazine November 2014 - Page 12

How to sell your timber wisely Around Our State Davis College welcomes new director of Animal and Nutritional Sciences Robert L. Taylor, Jr. has joined the West Virginia University Davis College of Agriculture, Natural Resources and Design as director Robert Taylor, Jr. of its Division of Animal and Nutritional Sciences. Taylor was previously a professor of animal science at the University of New Hampshire, where his efforts focused on poultry immunology and genetics. He provided oversight to research farms, led an array of local, regional, and national level initiatives for the university and United States Department of Agriculture, and was very active in professional societies. Taylor currently serves as the president ofthe USA Branch of the World Poultry Science Association. ii / Fall 2014 fter a number of depressed years, the timber market has rebounded with strong demand for logs by sawmills and other users. Many landowners are being approached by loggers, log buyers, sawmills, foresters, and others about purchasing their timber. A skills to develop a plan to help the landowner meet his/her goals. Typically, the forester will inventory the forest and help you determine what trees should be cut, the estimated value of the trees, and some initial planning steps for the removal of the trees. Do your homework Marketing your trees Harvesting timber is often a once in a lifetime activity, and it is important to do it correctly the first time. The forester will then prepare and market a prospectus to potential buyers. The prospectus will include the location of the property, general payment terms, While selling and other timber will necessary details. almost always In most cases, generate some a buyer will then financial submit a sealed bid benefit, with an offer. This many is the preferred landowners process, because end up with competition less than the encourages true value and buyers to offer undesirable the highest value or unexpected At a logging landing site, log decks surround to the landowner. post-logging Even though the loader and log truck. (Photo – Ben Spong) conditions. direct price and The timber sale transaction should be a percent basis (shared proceeds between fair and open process that provides shared buyer and landowner) negotiations are benefits for all parties. To protect their less desirable, they may be appropriate interests now and in the future, landowners for smaller volumes and specialized are strongly encouraged to work with an situations. industry expert, such as a professional The contract forester, to guide them through Once a buyer is selected, both parties the process. should enter into a contract that includes Determine goals the description of the timber, agreed First, the landowner should determine a upon price, payment terms, time period, goal for the timber harvest. Often times, who will pay the severance tax, and the goal is to maximize income from other responsibilities of each party. An the timber, develop wildlife habitat for experienced industry professional will hunting, remove dying trees to have a typically have a good template for this healthier forest, or even a combination contract; however, an attorney review of all these. will ensure legal rights are protected. If needed, seek help to develop a plan During harvest Next, it’s time to engage the help of a professional forester, who will apply forest science and practical business and industry Once harvesting starts, the forester can oversee the operation to ensure – continued on page iii – Insert Provided by WVU Extension Service and Davis College of Ag., Natural Resources, and Design 12 West Virginia Farm Bureau News