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We know your time is
valuable, and we want to make working with us
as smooth and easy as possible. If you are satisfied with the
process, we hope you'll think of us next time you're selling land
or have a friend who is selling land.
Note: the steps and timelines provided here are approximate,
based on what we expect would be a typical inquiry. We reserve the
right to respond differently to your
inquiry as we see fit.
Step 1 - Questionnaire
Please fill out our questionnaire.
That starts the whole process.
Step 2 - Acknowledgement
Within 2 days or less, we'll acknowledge receiving your
inquiry, and we may ask a few additional questions.
Step 3 - Preliminary Offer
Within 1 week or less of receiving your answers, we will probably make you a Preliminary Offer. The Preliminary Offer will probably be
conditional on our verifying certain things and the final approval of our Board of
Directors.
In some cases, we choose not to make any offer, and we reply to you
with our regrets. We can't specify in advance all of the different
cases where this might happen, but in general we prefer to buy rural
vacant land. Land that has houses or buildings on it are usually okay
for us as long as the land itself is the main attraction.
Residential land in suburban areas is usually okay too, but if has
particularly complicated zoning or requires very detailed local
knowledge, we may choose to pass. Commercial or industrial property, or
high-value urban land is not something we would likely make an offer
on. Nonetheless, we encourage you to submit a questionnaire for any
real estate you are trying to sell. It costs nothing to try, and we
will give each request careful consideration.
Step 4 - Discussion
We respond to any questions or concerns you have with the
preliminary offer. If we can reach an agreement in principle on the
terms of the deal, we sign an initial commitment appropriate to the deal
(for example, a Purchase and Sale agreement if we are doing a straight sale).
If not, we can break of discussions, and perhaps touch base with you
again in the future.
Step 5 - Verification
Usually, there will be a period of time specified in our initial
agreement during which we research unresolved items, conduct due
diligence (which usually includes a visit to the property) and secure
final approval from our Board of Directors.
You will also have time during this period to consult an attorney or
obtain other professional advice you feel is appropriate. After
this period is complete we may, if appropriate to the deal, provide a
good-faith deposit to your attorney or to a mutually agreed title
company.
Step 6 - Inspections
In some cases, the deal will be contingent on the resuls of
third-party inspections or investigations, such as a Phase I
Environmental Site Assessment (ESA). In simpler deals this
might not be needed.
Step 7 - Title Work
The last stage of the transaction is the title work. An attorney or
other professional will search the public records in the county where
the property is located and confirm that your legal ownership is as
you have represented it, and that a title insurance policy can be
issued.
Step 8 - Closing
At closing, the deal is finalized, money and/or deeds change hands as
agreed. Closings can often be arranged by mail.
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