How Long Does it Take to Sell Land in Ohio?

Selling land in Ohio isn't a one-size-fits-all process. The time it takes can vary widely, depending on a range of factors. If you're looking to sell, you might be in for a longer haul than you'd expect with a typical home sale. In 2023, vacant land in Ohio sat on the market for about 180 days on average, according to real estate pros in the state. That's roughly six months of patience required!

Ohio's a big place, with over 26 million acres to its name. More than half of that - about 14 million acres - is farmland. And here's an interesting tidbit: farm acreage prices have been creeping up. Ohio State University researchers found that in just one year, from 2022 to 2023, the average price for an acre of farmland jumped by 3.9%, hitting $7,410. This uptick in land values, plus Ohio's prime location and varied landscape, can really shake up how quickly (or slowly) land changes hands in the Buckeye State.

Overview of the Land Sale Process in Ohio

In general, these are the main stages to sell land in Ohio:

• Preparing the Property - This includes steps like clearing title, obtaining surveys, and removing any structures or debris. Allow 1-2 months for this prep work.
• Pricing and Listing the Property - Research recent comparable sales and work with a real estate agent to set a competitive asking price. Then market the land through MLS listings and other advertising. Expect it to take at least 2-3 months to generate interest and offers.
• Negotiating and Accepting an Offer - After finding a qualified buyer, negotiate purchase terms like price, closing date, contingencies, etc. Accepting an offer can take anywhere from a few weeks to several months.
• Due Diligence Period - The buyer will investigate the property further during this 30-60 day period after an accepted offer.
• Closing - Finalize the sale by signing documents and transferring funds. Closing typically takes place 1-2 months after the accepted offer date.

So in total, sellers should plan for around 6 months start to finish in a stable market. Specific timeframes depend on the property though. More complex sales with environmental issues for example, can drag out the due diligence and closing periods.

Key Factors That Impact Time to Sell Land in Ohio

Many variables influence the time it takes to sell land in Ohio. Key factors include:

Location - Land in developed areas near major cities sells faster than remote rural properties due to higher demand. Sale timeframes often correlate with population density.

Access and Utilities - Parcels with good road access and available utilities like electric, water and sewer will sell more quickly than landlocked or unimproved properties. Ease of access for development is key.

Property Condition - Land that is clean and free of structures, debris and environmental issues will sell faster thanfixer-upper properties requiring major remediation.

Market Conditions - Listings sell quickest in a seller’s market with low inventory and high buyer competition. Sales take longer in cooler markets with less urgency among buyers.

Marketing Exposure - Broad marketing reach through MLS and online ads will decrease time on market versus only yard signs or limited promotions. Hiring a real estate agent is ideal.

Pricing - Overpriced properties linger, while adjust pricing to market value will expedite sales. Reasonable sellers get quicker results.

Buyer Type - Cash investors and developers make quicker decisions than buyers needing financing, which adds time for loan approvals.

Title Issues - Resolving any liens, boundary disputes, mineral rights concerns or back taxes delays closing until the title is clear.

Tips for Expediting the Sale of Land in Ohio

Selling land quickly requires upfront work and strategic pricing. Here are tips for streamlining the process:

• Clear title issues or liens prior to listing. Buyers don’t want to take on those headaches.
• Hire a surveyor to mark exact boundaries. This reduces future title disputes.
• Make sure the property is accessible. Install roads or paths if needed.
• Remove any unwanted structures, vehicles or debris. Clean land shows better.
• Engage a real estate attorney to help review documents and contracts.
• Work with an experienced agent familiar with land sales. They will ensure proper marketing and pricing.
• Price competitively based on recent comparable sales and market data.
• Offer owner financing incentives to expedite sales. This brings in more buyers.
• Be flexible on closing dates. Buyers want time to evaluate land fully before closing.
• Respond quickly to buyer requests for disclosures and information during due diligence.
• Avoid setting closing deadlines too close to holidays like December when title companies get backed up with closings.
• Consider selling to a land investment company. These buyers pay cash and can close quickly.

With the right prep work and pricing strategy, land can sell more quickly in Ohio. But most sellers should still allocate 6 months minimum for the process. Be wary of properties priced far above market value—those can sit unsold for years waiting for the right buyer.

Selling land is hard. It is much easier to sell to Land Boss for cash.

Selling vacant land is a difficult, time-consuming process as we've outlined here. From clearing title issues to finding an interested buyer willing to pay your full asking price, it requires patience and persistence. Even in strong markets, it typically takes at least 6 months just to find a buyer...and that's if you're lucky.

Many landowners in Ohio grow weary of the headaches and carrying costs of owning vacant land. Rather than waiting indefinitely for that elusive dream buyer, they opt to sell directly to reputable land companies like Land Boss for an immediate cash sale. These companies buy land directly from owners, paying fair cash prices so sellers can move on quickly. There are no showings to coordinate, no open houses, no carrying costs - just a fast closing with cash in hand to reinvest elsewhere. Sure, you may leave some money on the table vs. selling at full retail. But you also avoid months or years of frustration trying to DIY market your property.

For landowners who desire simplicity, Land Boss streamlines the entire sales process. Their team handles all the due diligence like title review and environmental assessments. Land Boss sets fair offer prices based on recent area sales data - well above those "lowball" offers owners fear. Within days of an accepted offer, they can finalize the purchase and fund the closing. No drawn-out financing contingencies. No buyers backing out last minute. Just a quick, hassle-free cash sale.

So if your goal is to sell your Ohio land fast, consider contacting Land Boss to discuss your options. The experienced team makes it easy - visit their website for a free quote on your property today.

Typical Timeline to Sell Land in Ohio

When preparing to sell a parcel of vacant land in Ohio, it's important to set realistic expectations on timing. While no two transactions are alike, the typical process takes a minimum of 6 months from listing to closing. Here is an overview of common timeframes:

1-2 Months to Prepare the Property 

This stage includes steps like documenting boundaries, clearing title, removing any unwanted structures or debris, and otherwise getting the land ready to show and sell. Timing varies based on condition and title complexity.

2-3 Months to List, Market, and Under Contract 

After listing the property with an agent, it takes time to generate interest among buyers. In a balanced market, expect to receive quality offers after 2-3 months of proper marketing through MLS, digital ads, etc. Distressed properties may sit longer.

30-60 Days Due Diligence Period 

Once an offer is accepted, the buyer will investigate the property further over this 1-2 month period before closing.

1-2 Months to Final Closing 

From accepted offer to final closing typically takes another 1-2 months in Ohio. This allows time for inspections, buyer financing, title work, and other closing logistics.

Total of 6+ Months 

From start to finish, a normal vacant land sale will span about 6 months minimum. Complex sales can exceed 9-12 months. Proper pricing and preparation helps expedite the process.

Final Words

Selling vacant land requires considerable time and effort, but appropriate planning and pricing can optimize the process. For most sellers in Ohio, the realistic expectation is a minimum 6 month timeframe from initial listing to final closing. With complex sales involving title issues, environmental problems, or difficult buyers, the process can drag out even longer. By thoroughly preparing the property, pricing it competitively, and leveraging professional help, sellers can hope to stay on the low end of timeframes. But patience and persistence are still key, as land sales rarely happen overnight. With disciplined expectations, Ohio landowners can navigate the sales process smoothly.

Frequently Asked Questions (FAQs)

How long does it take to sell land in Ohio?

In most cases, plan for a 6 month minimum from listing to closing. Complex sales with title issues or environmental problems can take 9-12 months. Proper pricing and preparation helps expedite the process.

What steps are involved in selling land in Ohio?

Main stages are preparing the property, listing/marketing, negotiating offers, due diligence, and closing. Each stage contributes to the overall time to sell.

What factors affect the time it takes to sell land in Ohio?

Location, access, property condition, market conditions, pricing strategy, marketing exposure, buyer type, and title complexity all impact time on market.

How can I sell my land faster in Ohio?

Strategies like pricing competitively, clearing title ahead of listing, offering owner financing, and considering a cash offer from an investment company can help expedite sales.

Should I expect a quick sale even in a hot real estate market?

Don't assume a hot market will lead to a fast, top-dollar sale. Even in strong markets, most land deals still take a minimum of 6 months to complete. Patience and persistence are key.

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