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Just like any sale of real estate, a land contract should begin with a purchase agreement. This is a legal document signed by a potential buyer making an offer on the real property for sale. The purchase agreement should indicate that the offer is for a land contract, and should state the purchase price, initial cash down payment, length of the payment term, and any other terms of sale.
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The one technique for how to sell a piece of land that is the same for home sales is using imagery to help buyers get a feel for the property and to help them get a sense of what they can do with it. For example, when you’re selling a home, you want to include plenty of photos with the listing and hold open houses so people can get a feel for the house. You want to clear out clutter and stage your home so buyers can visualize themselves living there, without being distracted by photos of your kids.
Have a pre-prepared contract and Form 1 statement at the ready, to be signed when you find yourself a buyer who is prepared to pay you the right price.  You must remember that on most occasions purchasers have a right to “cool off” on a contract that they have just signed which they can exercise at any time and for any reason within 2 clear business days of signing the contract.  It is therefore critical that you strike while the iron is hot.
Hi Sean! When I do my own title search, it’s because I’m NOT planning to get a title insurance policy (mainly because the property is so cheap, and the extra cost is difficult to justify). And yes, I am always sure to get a Warranty Deed from the seller. If I find any apparent problem in the title search, then I’ll usually walk away from the deal unless it’s VERY minor and/or we’re able to resolve the issue as part of my closing.
The land contract should also state how the payments are to be made, including the due date, any grace periods for late payments, late payment fees, and where the buyer should deliver each payment. Typically, the land contract buyer will be treated just like the property owner and thus will be responsible for the taxes on the property, the insurance, and any utility bills including water and sewer which are typically billed directly to the property.

If you have chosen to sell your land privately, then you need to know that there are several ways that you can advertise your property. The absolute easiest way is to put out a ‘For Sale By Owner’ sign. This might give you better results than you expect. Many people searching for land simply get in their cars and drive around looking for a for sale sign. Make sure that you have some contact information on your sign.
There always seems to be an endless pile of paperwork and a lot of legal hoops to jump through (everybody wants to protect themselves from liability, etc).  While some of this documentation is certainly good practice – I've learned that when you boil it all down, closing a real estate transaction is actually a fairly simple process – especially when it's an all-cash transaction (no financing or mortgages involved).
The first thing you must do when you have signed a contract to buy a property, especially where there are professionals involved in representing the interests of either party, is to lodge a caveat to protect your interest in the property until settlement.  A caveat will stop the vendor from selling to someone else or encumbering the property without notice to you.
Pricing your home correctly is crucial when putting your property on the market. A property that is badly priced will take longer to sell than one that offers fair market value. You would need to do your research and get to know the local market inside out. Buyers can ask an agent to provide a comparative market analysis – a list of similar properties sold in the area, research asking prices for similar properties on Private Property or purchase a report from a property research company like Lightstone. Once you have the information required, you can set your asking price.
A closing statement should be prepared to show an accounting of the debits and credits to each the buyer and to the seller as part of the land contract transaction. An attorney or a title agency can prepare a closing statement for the parties. The closing statement may also contain an amortization schedule showing the projected payments to be made from buyer to seller to fulfill the financial obligation of the land contract.

Have a pre-prepared contract and Form 1 statement at the ready, to be signed when you find yourself a buyer who is prepared to pay you the right price.  You must remember that on most occasions purchasers have a right to “cool off” on a contract that they have just signed which they can exercise at any time and for any reason within 2 clear business days of signing the contract.  It is therefore critical that you strike while the iron is hot.
California's basic transfer tax is $1.10 per $1,000 of value, and generally the seller pays the cost. If a $575,000 piece of land changes hands, the seller will pay the entire $632.50 tax at closing. Some cities also impose transfer taxes, which vary from $1.10 to $15.00 per $1,000 of value transferred, depending on the value of the property and the community in which it is located. The custom is for the buyer and seller to equally split the tax in most cities, but in some areas sellers customarily pay the entire tax.
In order to determine the right buyer for your land, look at the highest and best use to determine where to start placing ads. If it is country land that is perfect for hunting, look for local outdoor forums and clubs to advertise your land. If it is a good home site, a land broker or traditional real estate agent may be best. You can also contact the neighbors, who may be interested in extending their property.
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