No Sale An unsuccessful sale where potential buyer and seller can not agree on terms for negotiation or where bids offered do not meet the minimum price established by the seller. Consider Market Conditions When Timing the Sale HOW SHOULD YOUR TIMBER SALE CONTRACT BE DEVELOPED? A Written Contract Provides Documentation of Agreements Between Buyer and Seller A Written Contract Ensures Harvest Will Be Conducted According to Plan and Protects the Interests of All Parties A Written Contract Should Include: Agreed Upon Price Method of Payment Timing of Payment Best Management Practice (BMP) Compliance Duration of Contract Damage Penalties Harvest Restrictions Responsibilities of Buyer and Seller Wildlife, Aesthetics, and Other Environmental Concerns Other Specific Concerns ARE THERE TAX CONCERNS?SEEK PROFESSIONAL FORESTRY TAX ASSISTANCE Georgia Ad Valorem Taxation Process Capital Gains Advantages and Benefits Estate Planning Reforestation Tax Credits and Incentives (Public Law 96-451) Importance of Accurate and Detailed Record Keeping If any of these "Keys" stimulated additional questions, you can contact your local Georgia Forestry Commission forester at the following locations: Rome Gainesville Athens Newnan Milledgeville Washington Americus Tifton Camilla Statesboro McRae Waycross 706-295-6021 770-531-6043 706-542-6880 770-254-7218 478-445-5164 706-678-2015 229-931-2436 229-386-3617 229-522-3580 912-681-0490 229-868-5649 912-287-4915 An Equal Opportunity Employer and Provider Are you confused about selling your timber? This brochure will provide you with questions that need to be answered throughout the timber selling process and where to get those answers. Always use a business-like approach to ensure maximum financial and environmental benefits. WHY SELL YOUR TIMBER NOW? Provide Periodic Income Encourage Future Forest Productivity and Growth Reduce Insect and Disease Losses HAVE YOU DEFINED YOUR OBJECTIVES? Planning Ahead for the Future Timber Production and Stand Improvement Wildlife (Game and Nongame) Resources and Habitat Improvement Reforestation and Stand Establishment Soil and Water Conservation Recreation and Aesthetic Concerns Identify and Evaluate the Timber Resources Species (pine or hardwood?) Product (pulpwood, chipn-saw, sawtimber, veneer, etc.?) Quantity, Quality, and Future Productivity Accessibility (location, barriers to harvest, slope, etc.?) Identify Your Harvesting Options Thinning (row, selection, or combination) Total Harvest Regeneration Harvest WHAT PROFESSIONAL ON-SITE ASSISTANCE IS AVAILABLE? Consulting Foresters Offer a full range of timber sales services Georgia Forestry Commission (GFC) Foresters Offer initial on-site inspections, guidance, and direction Industry Foresters Offer Landowner Assistance Programs and harvesting advice HOW SHOULD YOU ORGANIZE YOUR TIMBER SALE? Utilize a Business-like Manner with Appropriate Documentation Advertise the Sale Contact As Many Prospective Buyers As Possible (GFC listings are available) Solicit Competitive Bids Provide Maps Designating the Sale Area Types of Sale to Consider Lump Sum A sale where a specified volume of standing trees (stumpage) is sold for a cash price before harvesting begins. With a lump sum sale, a cash settlement is provided that will be paid regardless of the volume of timber actually removed from the tract. Unit Sale A sale where an unspecified volume of standing trees is sold by a specific measurement (Georgia law dictates unit sales are to be quoted in "Dollars per Thousand Pounds" O.C.G.A. 2-14-80.1)