Perhaps you’ve inherited some land, decided to sell some investment property or are just in need of some extra cash. Either way, selling land by owner can require some extra work but in the long run will ultimately be more profitable than selling with a real estate agent. There are a few things you must keep in mind before deciding to sell land by owner.

Whether you inherited a piece of property that doesn’t mesh with your goals, discovered that you simply need to live in another part of the world, or even if you bought a piece of property and later just fell out of love with it, selling land, particularly in a poor market, can appear to be a daunting task.  The amateur’s first reaction is usually to list with a real estate agent and hope for the best.


To set your price, check around your neighborhood / community for comparable homes for sale. Get familiar with how other similar homes are priced. If you'd like a little more help in this area, the alternative to determining a price on your own is to use a professional appraiser. The initial cost of an appraiser is still much less than the end cost of commission. It's important to revisit your pricing strategy from time to time using all the available information you have.
1.  The Road:  The better the condition of the access road, the better impression your property will make.  If your land is three miles of bad county-road away from pavement, then I wouldn’t waste a lot of money making the access from the county road any better than the county road itself, but remember that you can do quite a bit to civilize a dirt driveway with a tractor and blade.   If you don’t have too much length to cover, there’s no substitute for a layer of 1” crushed rock (or larger rock in deep mud-holes).  One layer of 1” rock one lane wide will cost you about 75¢ per foot around my neighborhood.  Needless to say, if the property is on a road maintained by the county, or some other local government entity, and if this road has any work that needs to be done, this is an excellent time to complain politely about it to the wonderful folks on the Road Board.  Most counties grade their roads once or twice a year, but some roads that don’t get much traffic may be neglected if no-one complains.
A seller who accepts the terms of the buyer’s purchase offer should sign the offer making it an official purchase agreement. The seller may be required by law to provide certain disclosures such as of any known defects of the property, including the existence of any lead-based paint. Required real estate disclosures vary by state, and a real estate professional or attorney may be able to assist sellers with these forms. For details, see the Nolo articles under What Sellers Must Disclose About a House’s Condition in the Selling a House section of this site.
The first obligation of a vendor to the purchaser is to make sure they can provide clear title to the purchaser, in other words, ensure your property can be freed of any encumbrances or orders or conditions at settlement so that the purchaser has clear title to the property.  Your lawyer or conveyancer can assist you with this but the obligation is on you so make sure these matters are worked out before you start signing contracts.
A deed to transfer the legal title of the property from the seller to the buyer should be drafted and signed by the seller at the closing. This deed will be held in escrow until the final payment is made on the land contract and then filed with the appropriate government agency, such as the county clerk in the county where the property is located. Held in escrow means that the deed is held until a triggering event, payment of the land contract. A title agency, an attorney, or a financial institution may hold the deed in escrow for the buyer and seller.
I have this document available for members of the REtipster Club to download for free, but it’s not something you can get here on the blog (because it’s pretty specific to land transactions, and I wouldn’t want people trying to use it for selling houses or other types of real estate, because it’s not really intended for that). Does that make sense?
Conducting a self-closed real estate transaction isn't appropriate for all people and situations. The process DOES require some significant attention to detail and organizational skills. Some people are very good at staying organized and keeping track of these details, and others aren't. Don't try to close your own deals unless you're willing to go slow and get the help you need to ensure you're completing each step in accordance with the laws and regulations of your state.

When the foundation of an agreement has been reached, exchange the names, addresses and phone numbers of the lawyers involved (i.e., your lawyer and the buyer's lawyer). Get the buyer to have his lawyer draft up the details of the purchase and sales agreement (what you negotiated together, independently or through The Offer Maker®) and have them sent to your lawyer's office. Putting this responsibility on the buyer will help gauge the seriousness of the offer.


A lot of attorneys would love you to believe you have to cough up $1,000+ every single time you need to close a deal. There may be the occasional case where you have a VERY complicated deal that ought to be handled by an attorney (and in some states, the involvement of an attorney is required – see this blog post for more information), but I've found that in many cases, there is nothing wrong with using these basic templates to close transactions in-house.
Hi Laura – in pretty much every case, you’ll have to at least sign the deed in front of a notary, so it’s a little strange they didn’t mention that. If they aren’t going to use a title company, that’s not necessarily a deal-killer thing, but it means they really need to understand what they’re doing, and how to get everything properly documented and closed (and if they didn’t mention the deed/notary thing, that makes me wonder).
Equally, if you are thinking of buying a particular property, you don’t have to wait for a property to go on the market or appear in the real estate section of the newspaper in order to make an offer to purchase it.  There is nothing stopping you from approaching the owner directly and asking if they are prepared to sell their property if the price is right.
Nowadays all of my favorite software packages come for the same price: free.  So I’d check out what’s available at tucows.com or software.com.  You can also make a tolerable web page using Microsoft Word (which probably came loaded on your computer) however, if you’ve never made any web pages before, you’ll probably also be needing  web-space to put them on, and you can find both web-authoring software and web-space available cheap or free with a little thoughtful web-searching.
If the sellers feel as if they are doing all the work, they might also be able to modify the existing agreement and add a termination if the broker doesn't meet certain obligations, like selling the home within a certain time frame, says Sandy Straley, a real estate agent in Layton, UT. Other obligations for the listing could include organizing open houses, creating and distributing printed materials, and even the posting of videos shot by drones, says Markel.
I agree with Ellen Chung, finding the right type of buyer to target is very important. Also, you should consider the amount of time you have to sell the land. If you are short on time due to back taxes owed or other financial obligations, your best bet may be to talk to a vacant land investor. You will not get the full market price for your property, but the typically can pay cash and close quickly.
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