A land buyer ready to purchase is an individual who has done their homework, walked the property several times, and consulted experts. Often, buyers will still have unanswered questions that need to be resolved before a contract can be finalized. This is one reason that it’s wise for sellers to add contingencies to their sales agreements. Common ones include ensuring the land can pass environmental tests, get sewer permits, and have a survey with boundaries that match the buyer’s plan for development.

Experienced Land Buyers Ready to Purchase

A buyer who is ready to purchase is also aware of the associated costs and fees involved in a real estate transaction. This includes closing documents, title insurance, and a transfer of ownership via deed. It’s also important for a buyer to understand their annual property tax obligations and whether any special assessments or fees apply.

If a buyer wants to buy a piece of land, they should be prepared to pay the price in cash or through a bank loan. If they need to finance their purchase, they will typically need a mortgage approval from their lender. Alternatively, some buyers may offer seller financing or lease-to-own options that reduce upfront costs for the seller.

A buyer who is ready to purchase will be able to quickly close the sale of the land. Closing usually occurs within 30 days after signing the purchase and sale agreement. During this time, it’s essential that all parties are on the same page regarding the terms of the deal and all necessary closing steps have been taken.