Why does a land sale closing have to take so long and prove to be so difficult?
Actually, it doesn’t…
The following can help a land sale closing to occur quickly, accurately and safely for the real estate buyer:
- The real estate seller should provide the real estate buyer with a new, certified survey with wetlands depicted on the map.
- The seller should provide insurable title and offer title insurance to the purchaser.
- All necessary permits should be in place and transferable.
- All private roads and rights of way should be verified.
- All mineral, gas and oil rights should be included in the sale.
- The seller should provide an agreement, in writing, to buy back a property that will not support a well and septic system.
- Financing approvals for the buyer should be obtained within 48 hours.
- Financing should be available without a long wait for an appraisal.
- An attorney and/or closing agent should always schedule a closing around the buyer’s needs.
- The seller and/or their agent should be available to the buyer seven days per week for a convenient time to assist in the closing and to walk on the property after closing.
And most importantly - all these closing items should be delivered with a positive, polite and helpful attitude to the buyer, both before and after the closing. If you can't expect a closing within one to three weeks, something is amiss. Buyers should expect the best!