The Process of Selling Land in Vermont

Selling land in Vermont involves navigating a unique market shaped by the state's rural character and conservation efforts. As of 2017, Vermont had 6,808 farms covering 1,193,437 acres, with an average farm size of 175 acres. Notably, 20% of Vermont's farmland changed hands or was expected to change ownership between 2015 and 2019, highlighting a dynamic real estate landscape for rural properties. The state's commitment to preserving its natural beauty is evident, with over 11% of Vermont's land area protected through conservation easements. Understanding these factors is crucial for landowners looking to sell their property in the Green Mountain State, as they significantly influence market dynamics, potential buyers, and the overall selling process.

Getting to Know the Vermont Land Market

Vermont spans 9,616 square miles across the New England region, nestled between New Hampshire to the east, Massachusetts to the south, New York to the west and the Canadian province of Quebec to the north. Its landscape encompasses the rugged Green Mountains running north to south, dotted with small towns, villages, lakes and farmland. Much of the state is covered in dense forest, with maple, oak, birch and beech trees.

When it comes to real estate, land prices in Vermont tend to be more affordable than surrounding states. However, selling land still remains competitive and localized knowledge is key. There are a number of nationwide companies focused specifically on buying and selling land, with extensive experience in the Vermont market. These companies stay up-to-date on market conditions across the state and can provide helpful guidance to land owners looking to sell.

Determining Your Asking Price

Pricing land appropriately is an art and science. It requires analyzing comparable sales, accounting for property attributes that add or detract value, and understanding broader market shifts in supply and demand.

In Vermont, land prices range widely based on location, terrain, road access, views, boundary surveys, mineral rights, allowed use and development potential. Typically, remote forest and mountain acreage sells for $1,000-$2,000 per acre. More usable recreation land with lake or river frontage can fetch $2,500-$5,000 per acre. Land zoned for residential or commercial use near developed areas sells for premium prices.

When setting your asking price, be sure to consider all unique characteristics, restrictions, and any investments made into infrastructure like roads or utilities. Properties with additional potential uses or flexibility to develop will garner higher prices. Surrounding land values also impact pricing - a plot in a more desirable town or community can increase value. And economic factors like mortgage rates and broader real estate trends influence what buyers are willing to pay.

Marketing Your Vermont Property

Once you determine an asking price, marketing becomes vital for success. With Vermont’s slower land market, sellers should expect a 1-2 year timeframe to sell for top dollar. This makes casting a wide net with advertising essential.

First, contact a local real estate professional to list the property on MLS and syndicate the listing across major sites like Zillow, Trulia and Realtor.com. Also consider niche land listing sites like Lands of America and Land and Farm. These sites cater to buyers specifically seeking vacant land and acreage.

Make use of social media by creating posts showcasing the property’s highlights and location. Utilize relevant hashtags like #Vermontrealestate, #LandForSale and #Vermontland to help online content surface in searches. High quality photos and video tours also attract buyers browsing online.

Offers will trickle in over months, not days or weeks. Remain patient, keeping marketing fresh and consistent to connect with serious buyers. Sellers who go the extra mile securing boundary surveys, evaluating mineral rights and conveying developmental potential can significantly boost interest.

Negotiating With Potential Buyers

Once prospective buyers become interested, move negotiations along responsibly yet purposefully. In Vermont's land market, appraisals and property valuations involve interpreting many variables. Buyers may cite a wide spectrum of figures that seem like low-ball offers. Don't take this personally or reject them outright. Use facts and research to support your pricing.

Also recognize that selling land solo without a broker involves major effort. Working directly with reputable land buying companies who make cash offers can greatly simplify the process. These companies have extensive networks of investors ready to buy various property types, including tricky remote or densely forested acreage. They analyze local market data and make reasonable offers based on current conditions.

The key is finding buyers who move quickly yet make fair offers based on market rates. Keep communicating to reach an agreement both parties feel good about. Don't be afraid to negotiate or counter offers that seem too low. But also remain realistic about true property value by comparing sales of similar nearby land.

Closing the Sale Smoothly

As a final step to complete the land sale, work meticulously through closing documentation while keeping big picture goals in sight. Verify all details like legal property descriptions, final sale price, commissions (if any), and completion timeline. Submit necessary paperwork to facilitate purchase funds changing hands.

In Vermont, key documents include:

• Property transfer tax form
• Vermont Property Transfer Return form
• Seller’s Residency Certification
• Buyer and seller signed Purchase & Sales Agreement
• Any required permits or approvals
• Final deed transferring ownership

Use reputable real estate attorneys on both buy and sell sides to ensure proper handling. Once funds clear and new deed is recorded, celebrate a successful land sale closed!

Final Thoughts: Finding Success in Vermont's Land Market

Selling land always involves effort and patience. This remains especially true in Vermont given abundant forests and restrictions shaping the market. Yet by understanding key steps around pricing, marketing, negotiations and closing, landowners can successfully sell for fair prices. Partnering with experienced land buying companies also eases the process. For those looking to sell acreage of any type in the state, use these guide points to move forward confidently towards closing a deal.

Frequently Asked Questions (FAQs)

What are the most important factors that determine land value in Vermont?

Some of the key factors that impact land value in Vermont are: location, views/scenery, road access, boundary surveys, allowed use & zoning, mineral rights, terrain, and developmental potential. Land near ski resorts or public land tend to sell for more. Parcels with utilities, water access, or flexibility to develop also garner higher prices. Remote forest and mountain acreage usually sells more affordably in the $1,000-$2,000 per acre range.

How long does it usually take to sell land in Vermont?

The market for land sales moves slower than normal real estate in Vermont. On average, it takes 1-2 years to find serious buyers and sell land in Vermont for top dollar. Factors like restricted development, abundant forests, and tricky appraisals of more rural acreage contribute to the longer sales timeframes. Patient yet persistent marketing is key for sellers who want to optimize selling price.

What are the main steps for closing a land sale in Vermont?

Major steps to close a Vermont land sale include: securing necessary surveys, permits or approvals; having buyer & seller agree to and sign final Purchase & Sales Agreement; completing and submitting property transfer tax forms as required; verifying seller's residency details; double checking all legal property descriptions match on paperwork; wiring funds safely to facilitate exchange; officially recording new deed. Real estate attorneys help navigate the documentation.

What are the top ways to market land for sale in Vermont?

Successful marketing strategies for Vermont land include: listing on MLS with local real estate agents to maximize exposure across syndicated sites, advertising directly on niche land sale platforms like Lands of America and Land and Farm, utilizing social media promotion and relevant hashtags, securing boundary surveys & development info to boost value, patience and persistence with keeping the listing fresh and visible over months/years.

What are signs of a good offer when selling land in Vermont?

The top signs of a quality offer when selling Vermont land are: an all-cash deal, offered by established land buyers with market data to support pricing, no contingencies, reasonable timelines for closing, sufficient earnest money deposit, covers title search and closing costs, buyer agrees to improvable property ‘as is’, minimal inspection requirements. Good offers move quickly while still reflecting fair market value.

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