An offer on your land is exciting, but the number at the top of the page is only part of the story. Contracts are built on offer and acceptance, and once you sign, you are bound by the terms. Asking the right questions first helps you understand exactly what you are agreeing to.
Is this a cash offer or does it depend on financing?
A buyer who needs a loan may not qualify, or the lender may refuse to finance raw land. Cash offers remove that risk. If financing is involved, ask how far along the buyer is in the approval process.
What contingencies are included?
Contingencies let a buyer back out if certain conditions are not met. Common ones for land include surveys, soil tests, zoning checks and financing. The more contingencies, the less certain the sale.
How long is the due diligence period?
Some buyers want 30, 60 or even 90 days to investigate the property. During that time the land is off the market, and the buyer can often cancel for any reason. A short period means a quicker answer.
Who pays closing costs?
Title fees, recording charges and transfer taxes can add up. Ask for a clear statement of who pays what so you can calculate your true net proceeds.
What closing company will be used?
Legitimate sales close through an independent title company or attorney. Ask for the company’s name so you can confirm it exists and is reputable.
When will I get paid?
Most title companies wire funds within a day or two of closing. Ask the buyer to confirm the expected timeline and how payment will be made.
Can the buyer assign the contract?
Some buyers sign contracts intending to sell them to someone else. If that concerns you, ask whether the agreement is assignable and consider adding language that prevents it.
Is there any flexibility on the closing date?
If you need time to remove belongings, settle an estate or coordinate with co-owners, ask whether the buyer can accommodate your schedule.
Take notes during conversations
When you speak with buyers, write down their answers along with the date. If you receive several offers, your notes make it easy to compare them and to spot any answers that change later. A buyer whose story shifts between the first call and the contract deserves a closer look before you sign anything.
Getting clear answers
A trustworthy buyer will answer these questions plainly and put the important terms in writing. Any established buyer should be able to give straightforward explanations about pricing, costs and timelines. If you want to see how a direct buyer handles these questions in practice, reaching out to the Land Boss team is one way to compare their answers with other offers you receive.
Taking the time to ask these questions protects you from misunderstandings and gives you confidence that the deal you sign is the deal you will close.
