How to Sell Land For Cash in Vermont

Vermont's picturesque landscapes and abundant natural resources make it an attractive market for land sales. According to the USDA's 2017 Census of Agriculture, Vermont has approximately 1.2 million acres of farmland across 6,808 farms, with an average farm size of 175 acres. Interestingly, the state has seen a 7% increase in the number of farms since 2012, bucking the national trend of declining farm numbers. This growth, coupled with Vermont's commitment to preserving its rural character, creates unique opportunities for landowners looking to sell their property for cash. Whether you're parting with farmland, forested areas, or undeveloped plots, understanding the local market dynamics and legal considerations is crucial for a successful and profitable land sale in the Green Mountain State.

Get to Know the Local Land Market 

Before listing your Vermont property, it’s wise to understand land values in the local area. This will help you set an asking price that is competitive yet profitable for you. Some factors that influence value include:

• Location – Land near ski resorts or population centers typically fetches higher prices than remote parcels.
• Access and utilities – Properties with good road access and electric/water hookups have more potential so tend to sell for more.
• Lot size – Per acre prices generally decline as parcel sizes get larger.
• Usage – Land suitable for recreation, development, farming etc. brings top dollar.

So, research recently sold ‘comps’ (comparables) near your parcel to gauge fair market value. A good real estate agent can provide comps and price guidance as well. Online sites like Zillow also share sales info.

Prepare Your Property for Sale 

Making your land attractive to buyers will maximize the cash selling price. Some key things savvy Vermont land sellers do include:

• Survey the boundaries and settle any encroachments – This gives buyers confidence there won’t be disputes.
• Get permits/approvals needed for intended use – This ‘de-risks’ the property for buyers.
• Improve access points – Better access = higher land value.
• Clean up any brush/debris – Buyers pay more for neat, usable land.

Also consider ordering an environmental assessment to assure buyers no hazardous conditions exist. Taking these preparatory steps signals your seriousness as a seller and allows buyers to more easily envision building their home or business on your land.

Decide on Best Approach to Sell Your Vermont Land

When you’re ready to list your property for sale, you need to decide what selling process fits your timeline and priorities. Key options to weigh include:

Hire a Real Estate Agent This traditional approach involves signing a listing agreement with an agent/broker who then markets and shows your parcel to their network of buyers. They handle advertising, open houses, paperwork etc. in exchange for a typical commission of 5-10% of the sale price. The advantage is tapping into the agent’s sphere of buyers. The sale timing depends on market demand. If few buyers emerge, your land could take over a year to sell.

Sell By Owner Marketing to the Public

With some dedication and skill, Vermont land can successfully be sold independently without an agent. This may increase your net proceeds. But you have to handle all aspects of advertising, showing land, negotiating with prospective buyers, and navigating the legal transfer/closing process. These tasks take time and effort so it may take many months to find and close a suitable buyer.

Sell to a Professional Land Buying Company 

A simpler option is contacting a local land buying company like Land Boss that specializes in purchasing Vermont properties for cash. These companies have funds on hand and can buy land of varying types/conditions. After an initial inspection or review of public records to confirm the property details, the company will provide you a no-obligation fair cash offer. The amount depends on market comps in your area and conditions noted during inspection of the property. 

If you accept the offer, the company handles all the closing details and pays cash promptly at closing. This approach is much quicker and easier than traditional selling methods – closing in as little as a few days. However, companies do build in a profit margin when making offers so you may receive 10-30% below full market value. For many Vermont landowners needing to sell fairly quickly, receiving fair cash value offers 70-80% of appraised value is an appealing choice to liquidate their property fast.

Choose Title Company and Lawyer 

Early in the selling process, engage reputable providers to handle the legal transfer. Choose an experienced real estate attorney to prepare required disclosures for buyers and represent your interests. Also carefully select a title company. Their key role is researching public records on your parcel to uncover past issues that could derail a transaction. They will identify any “clouds” on title (ex. claims against ownership rights). Known title issues must legally be disclosed to buyers but often appear fixable by the attorney so aren’t deal-breakers. Title companies also manage funds exchange at closing and issue title insurance to protect the buyer’s rights/claims. So, pick trusted firms – they are worth reasonable fees to smoothly handle legalities.

Market Your Land Smartly to Attract Buyers 

The key to selling your Vermont property at an optimal price is maximizing exposure to qualified buyers. Traditional yard signs and print ads have limited reach in our digital age. Savvy land sellers turn to these proven marketing tactics:

• List on major online sites like Zillow, Trulia and LandWatch.
• Create a slick sales webpage with photos/details about the parcel.
• Advertise in niche publications read by land buyers. For example, Uncle Henry's in Maine.
• Email details to comparable land buyers in the area.
• Post large banners/signs along the property’s road frontage.

Casting the widest net through online and offline channels gives great odds of connecting with an interested party for top dollar.

Negotiate Fair Value Selling Price 

When prospective buyers emerge through your marketing efforts, skillful negotiation is required to maximize the land sales price and terms. Key tips include:

• Get pre-approvals from multiple buyers to create competition.
• Share details about other bids to nudge buyers towards their max price.
• Offer owner financing terms to expand pool of buyers.
• Sweeten the deal by paying for closing costs or including equipment on-site.
• Start higher than your minimum price so you have room to negotiate down.

Avoid getting fixated on a certain price threshold. Ultimately, the fair market value is what a buyer agrees to pay. With some composure and savvy bargaining, you can likely achieve selling price close to the top comps.

Navigate Closing Process with Support Team

As you near final sales agreement, liaise closely with your attorney and title company to verify all required disclosures are signed, funds are ready for exchange, final walkthroughs are successful and other closing conditions are met. Schedule closing date about 30-45 days out to allow time to finalize details. Earnest deposit money from the buyer during this period also shows their sincere intentions.

Closing day culminates when you transfer deed signing over property rights, the buyer’s funds clear into your account, and the attorney files necessary paperwork. This completes the sale. Soon after, the title company will issue a title insurance policy to assure the buyer of their ownership rights. Land sales involve many intricacies state-to-state so lean on your experienced real estate attorney and title officer.

Final Thoughts

Selling land successfully requires concerted effort but diligent Vermont property owners can command top dollar for their parcels. Maximize appeal and market broadly through online sites and niche channels. Seek capable partners for legal handling. With preparation and persistence, you can capitalize on hot demand to turn your Vermont lot into significant cash within months!

Frequently Asked Questions (FAQs)

What kind of land sells best for cash in Vermont?

Small to mid-sized parcels (2 to 100 acres) of rural or semi-rural land usually attract the most Vermont cash buyers. Lands that are well-suited for building, farming, hunting, logging or recreation are in demand.

How long does it take to sell Vermont land for cash?

When selling to a land buying company, the process can close in as few as 5-7 days in some cases. This is much faster than listing with an agent or trying to sell the land to individual buyers yourself, which can easily take 6 months to over a year.

Does my land need road frontage to sell for cash?

Not necessarily – while road access is preferred, some land companies will buy remote land or landlocked parcels. Without road frontage the offer amount will be reduced since the land has less usability. But it can still be sold.

How are cash offers determined by land buyers?

Cash offer amounts are based primarily on the underlying value of the land itself. Land buyers take into account market comparable sales, parcel size, road access, wood value, development potential and other attributes when making offers. Expect to receive around 70-80% of estimated land value.

Will I have to pay commissions if I sell my land for cash?

No. One benefit of selling land directly to a company that buys with cash is there are zero commissions or closing costs for the seller. This saves sellers thousands of dollars and yields higher net sale proceeds.

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