How Long Does it Take to Sell Land in Vermont

In Vermont, the sale of land can be a complex process influenced by various factors unique to the Green Mountain State. According to the USDA's National Agricultural Statistics Service, Vermont had approximately 1.19 million acres of farmland as of 2022, with an average farm size of 177 acres. This abundance of rural land, combined with the state's natural beauty and recreational opportunities, creates a diverse market for land sales. However, the time it takes to sell land in Vermont can vary significantly, depending on factors such as location, property type, market conditions, and pricing strategy. Understanding these elements is crucial for both sellers looking to expedite their land sale and buyers seeking to make informed decisions in the Vermont real estate market.

Determining Timeframe to Sell Land in Vermont

If you currently own a parcel of vacant land in Vermont and are considering selling, a common question is “How long does it take to sell land in Vermont?” Unfortunately, there is no one universal answer as many factors come into play when determining the expected timeline to sell.

However, based on our experience in buying and selling land for cash in Vermont, the typical timeframe ranges from 12-24 months if aggressively marketing and pricing the property right. It can often take even longer without the right strategy.

Below we’ll explore the various aspects that affect the land sale process and timetable in Vermont so you can set proper expectations when moving forward.

Key Factors That Impact Time-to-Sell Land

Selling vacant land has its challenges compared to selling an existing home that buyers can walk through and instantly connect with. The land selling process is more abstract for buyers to envision so it takes more time and targeted marketing to find an interested party.

Some of the key factors that determine whether it takes closer to 12 months vs. 24 months include:

• Location - Parcels near high demand areas like ski resorts or lakes see faster sale times. Remote, isolated land takes longer.
• Access - Land with good vehicular access and potential to build sell quicker than landlocked parcels.
• Utilities - Available electric, water, septic etc. decreases buyer development costs.
• Use Case - Recreational/hunting land appeals to different buyers than a house lot.
• Lot Size - Smaller lots generally sell faster and for higher values per acre.
• Zoning Laws - Parcels with development restrictions or zoning issues deter some buyers.
• Surrounding Land - Quiet wooded areas are more desirable than land next to commercial/industrial buildings.
• Pricing - How appropriately the asking price aligns with actual market value plays a huge role.

As you can see, there are many variables at play which is why bringing on an experienced real estate professional is highly advised if you want to sell your Vermont land efficiently.

A qualified agent understands all the latest market trends in your local area. They have specialized marketing tools and connections with interested buyers. Most importantly, they determine an optimal listing price not based on tax records but rather data from recent comparable land sales.

Stages of the Land Sales Process in Vermont

Now that we’ve covered the key factors that influence time-to-sell, let’s explore the typical progression of listing, marketing and closing on vacant land in Vermont:

Price Evaluation & Listing

An agent researches and analyzes market data in your geographic area and for properties with similar attributes. This allows them to establish a competitive asking price and optimal listing strategy.

Your agent assists with listing the property in the local MLS database as well other targeted marketing platforms.

Typical Duration: 2-4 Weeks

Marketing & Showing Property

Your agent coordinates all marketing activities to generate buyer interest. This includes creating print listings, online ads, yard signage, targeted outreach campaigns, networking with other agents etc.

As buyers inquire, your agent schedules property showings, provides prompt follow-ups, negotiates offers, facilitates communications and moves deals towards closing.

Typical Duration: 4-18 Months

Due Diligence & Closing

Once an offer is accepted, the buyer has a due diligence period to inspect the property, review titles/deeds etc. before closing.

The buyer arranges financing if needed. Finally, the closing company handles the transaction paperwork and land title transfer. The seller receives the sale proceeds minus commissions/fees.

Typical Duration: 30-60 Days

Total Time to Sell Land in Vermont

If you add up the stages above, you can see that the typical timeframe to sell land in Vermont ranges from 12-24 months depending on the property specifics and market conditions.

Working with a reputable agent and pricing the asset to market can help accelerate the process. Alternatively, if trying to sell raw land yourself without sufficient expertise, it risks sitting unsold for many years.

Patience is key when selling vacant land. However, if you need to sell more quickly for financial reasons or want to avoid the complexities of marketing, there are cash buyers like Land Boss that purchase properties as-is. These companies close deals in as little as 7 days in some cases so can serve as good exit strategies worth exploring.

We hope this overview gives you a better understanding of expected timelines when selling your Vermont land. Let us know if you have any other questions!

Final Thoughts

Selling vacant land in Vermont can be a lengthy endeavor, typically spanning anywhere from 12 months to 2 years until closing. There are many variables at play which determine whether a parcel sells at the quicker or slower end of that timeframe spectrum. Location, access, utilities, permitting, pricing and other factors all play a pivotal role. Engaging an experienced real estate agent to handle marketing and negotiations is highly recommended. They have specialized tools and connections to accurately price and promote your property to motivated buyers. However, if needing to sell raw land very quickly, exploring direct cash purchase companies remains a solid option as well. Patience and persistence are vital when selling land in Vermont but with the right prep and guidance, you can successfully close a deal secured at fair market value within a reasonable duration.

Frequently Asked Questions (FAQs)

What steps should I take to prepare my vacant land for sale in Vermont?

First determine if you need an official survey of the boundaries and have one completed if possible. Gather all legal documentation like the deed, title insurance, tax details, zoning info, maps, parcel ID number, and land use regulations. Take photos highlighting terrain, features, access roads, views and surroundings. Identify any easements, rights of way, encroachments or other issues that may impact value. Consider getting a perc test done if no septic feasibility has been determined. Ensure there is signage for easy access during showings. Remove any clutter or personal items from the lot.

How do I determine an asking price for my Vermont vacant land?

Research prices of recent comparable land sales through a licensed real estate agent or online tools. Factor in the location, lot size, development costs, access and utilities availability to adjust pricing accordingly. Set the price at the higher end of the market range and be willing to negotiate. Overpricing by too much can deter buyers and extend selling timeframe. An agent can advise the optimal listing price strategy.

What marketing methods work best for selling land in Vermont?

Utilizing an agent to list in MLS and promote across their network is highly effective. They will handle photography, print listings, custom site signage and online ads. You can share within personal networks as well. Optimizing the online listing with key terms and good photos generates inbound buyer leads. Plan to cover marketing expenses equivalent to 10% of the listing price.

Should I expect to negotiate with buyers on my Vermont land asking price?

Absolutely - negotiation is very common. Many buyers will submit offers below list price, sometimes up to 10-15% lower. Understand their motivations, constraints and highest/best terms. Be armed with market comps and average days-on-market data. An experienced agent can advise on counteroffers and when to accept terms.

How can I estimate net proceeds from selling my Vermont vacant land?

Net sale proceeds = Sale price - Remaining mortgage balance (if any) - Realtor commission (typically 4-6% of sale price) - Legal fees/closing costs (1-3% of sale price) - Any other taxes, liens or transfer fees. Get closing cost estimates from your real estate lawyer beforehand.

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