The Process of Selling Land in Maine

So, you've got a piece of land in Maine you're thinking about selling? Maybe it's a patch of forest you inherited from your grandparents, or a coastal lot you bought years ago as an investment. Whatever the case, selling land in the Pine Tree State isn't quite the same as unloading your old pickup truck on Craigslist. It takes some know-how, a bit of patience, and maybe a dash of Maine grit.

Let's start with a reality check: the Maine land market is about as predictable as New England weather. One minute it's hot, the next it's cooler than a moose's nose. Recent data from the Maine Association of Realtors shows land prices jumped up by 12.5% in 2023. Sounds great, right? Well, hold your horses. That doesn't mean your particular plot is guaranteed to fetch top dollar.

Here's another interesting tidbit: the Maine Land Use Planning Commission says about 10.4 million acres of Maine is "unorganized territory." That's a fancy way of saying it's not part of any town or city. If your land falls into this category, you're in for some unique challenges (and opportunities).

Getting a Grip on the Maine Land Scene

Before you stick that "For Sale" sign in the ground, let's talk about what you're actually selling. Maine's land is as diverse as the characters you'll meet in a Down East diner.

Coastal property near tourist hotspots like Portland or Bar Harbor? You might be sitting on a gold mine. A hundred acres of forest in Aroostook County? Different story. It might be worth less per acre, but you've got more of it to sell.

Here's the thing about land: it's not like selling a house where you can point to the new roof or updated kitchen. With land, you're selling potential. Maybe it's the potential for a dream home, a hunting paradise, or the next great Maine blueberry farm. Your job is to help buyers see that potential.

Rolling Up Your Sleeves: Prepping Your Land for Sale

First things first, you need to know exactly what you're selling. Sounds obvious, right? But you'd be surprised how many folks try to sell land without really knowing what they've got.

Get Your Boundaries Straight

Time to dig out that old survey or get a new one done. Nothing kills a land deal faster than boundary disputes. Trust me, you don't want to be in the middle of a sale when your neighbor claims your stone wall is on his property.

Title Check

Make sure your ownership is clear as a Maine mountain stream. Any liens or easements lurking in the paperwork? Better to know now than when you're at the closing table.

What's the Dirt on Your Dirt?

If your land's been used for farming or any industrial stuff, you might want to get an environmental assessment. Buyers these days are pretty keen on knowing they're not purchasing a future Superfund site.

Know the Rules

Zoning laws can be about as clear as pea soup fog. But you need to know what they are. Can someone build a house on your land? Start a business? Knowing these answers makes your land more attractive to buyers who have specific plans in mind.

Sprucing Things Up

Now, I'm not saying you need to landscape the whole property like it's the Augusta National Golf Club. But a little elbow grease can go a long way:

1. Clear the Way: If your land is all overgrown, consider clearing a path or two. Let people actually see what they're buying without having to bushwhack through a mile of brambles.
2. Highlight the Good Stuff: Got a fantastic view? A bubbling brook? A prime spot for a future home? Make sure these features are easily accessible and visible.
3. Paperwork Ducks in a Row: Gather up all your documents - surveys, tax info, permits, whatever you've got. Having this stuff ready shows you're serious and makes the buyer's life easier.

The Million Dollar Question: Pricing Your Land

Alright, time for some straight talk. Pricing land isn't like pricing a car where you can just look up the blue book value. It's more of an art than a science, and sometimes it feels like you're trying to pin a price tag on a cloud.

Do your homework. Look at what similar parcels have sold for recently. But remember, in Maine, "similar" can be a stretch. Your 50 acres might be nothing like your neighbor's 50 acres.

Consider getting a professional appraisal. Yes, it'll cost you some cash up front, but it can save you from the headache of overpricing (and watching your land sit on the market for years) or underpricing (and kicking yourself later).

And let's be real: the market for raw land can be as slow as molasses in January. It's not unusual for land to take 1-2 years to sell. So price it right from the get-go, and you'll save yourself a lot of grief.

Getting the Word Out

You've got your land all spiffed up and priced right. Now, how do you let folks know it's for sale? Here are some ideas:

1. Go Digital: List your property on real estate websites. But don't just slap up a few blurry photos and call it a day. Take the time to write a description that really paints a picture. And for Pete's sake, use good photos!
2. Old School Still Works: A good old "For Sale" sign can still do wonders, especially if your land is in a high-traffic area.
3. Spread the Word: Tell everyone you know. Your hairdresser's cousin's neighbor might be looking for exactly what you're selling.
4. Consider the Pros: A real estate agent who knows land can be worth their weight in gold. They've got connections and know-how that can make your life a lot easier.

Dealing with Buyers

Once you've got some interest, be ready for questions. Lots of questions. Where are the boundaries? Any water on the property? What are the neighbors like? Can I build a yurt and start a goat yoga retreat? (Hey, it's Maine. Anything's possible.)

Be honest. Be helpful. But also know your limits. If you don't know something, say so. It's better than guessing and being wrong.

The Home Stretch: Closing the Deal

You've got an offer! Break out the Moxie! But hold on, you're not done yet.

Most land sales will have a due diligence period. This is when the buyer does their homework - inspections, title searches, that sort of thing. Be patient and cooperative during this time.

When it comes to the actual closing, unless you're a legal eagle, you'll want a real estate attorney who knows Maine land law. Trust me, it's worth the money to make sure everything's done right.

Other Ways to Skin This Cat

Not keen on waiting around for a buyer? There are other options:

1. Land Buying Companies: Outfits like Land Boss specialize in buying land quickly, often for cash. You might not get top dollar, but you'll get a fast, hassle-free sale.
2. Auctions: If your land is unique or valuable, an auction could be the way to go. It's fast, but it's also unpredictable.
3. Owner Financing: This can open doors for buyers who might not qualify for traditional bank loans. But tread carefully - you'll want to make sure all your legal ducks are in a row.

Final Thoughts

Selling land in Maine isn't always a walk in the park. It can be a long haul, and there might be times when you feel like you're trying to sell ice to an Eskimo. But with some patience, a little savvy, and the right approach, you can turn that piece of Maine into a sold sign - and a nice check in your pocket.

Remember, whether you're selling a small lot or half a township, you're not just selling land. You're selling a piece of Maine's legacy. Treat it with respect, be honest with your buyers, and you'll sleep well knowing you've done right by your land and its future owners.

Now, get out there and make it happen. Your perfect buyer is out there somewhere, dreaming of owning their very own piece of Vacationland!

‍