How to Sell Your Land:

Overview

A land sale begins when you and a developer decide to explore the possibility of selling your land. The developer conducts an initial study of the land to loosely determine if it would be a good prospect for development. Once the development team decides it might work, the developer puts together an offer for you, the landowner. This offer indicates the amount of money the developer is willing to pay and also includes what is known as a "feasibility contingency." At this time, if the landowner accepts the offer, the developer researches the property and conducts various studies to determine if the property is feasible for their use.

After evaluating the land, the developer must file the appropriate documents to obtain approvals and building permits before construction can begin. At that point, the sale closes and the developer issues a check to you, the landowner. In general, this process can take anywhere from nine months to more than a year.