Skip to main content

Selling land

How is land priced, and who buys it?

Step 4 of 5

How do I read a developer's offer?

The answer

Developer and builder offers come with conditions: long due-diligence periods, approvals they need before closing, sometimes phased closings or a lower earnest deposit. Judge them on certainty and timing as much as price. Verify the buyer's financing and track record; a clean offer from a proven buyer often beats a higher one that never closes.

Expect the buyer to ask for a lot of time. Long due diligence is normal for land; unlimited due diligence is not.

How long
Most people spend about 2 weeks here.
What to do0 of 5 done
  • How to: Compared offers on all terms

    Compare offers on price, contingencies, timeline and earnest money

  • How to: Verified the buyer

    Verify the buyer's funding and past projects

  • How to: Due diligence is time-limited

    Limit the due-diligence period and require earnest money to go hard at a point

  • How to: Understand the contingencies

    Understand any phased-closing or approval contingencies

  • How to: Attorney reviewed the contract

    Have an attorney review anything unusual

Go deeper
What people wish they'd known
  • Taking the highest price without reading the conditions. Contingent offers can tie up land for a year and walk away.
  • Not verifying financing. An unfunded developer wastes your season.
  • Allowing open-ended due diligence. Set a date and a deposit that goes non-refundable.

From the Thrive team

  • Ask what approvals the buyer needs and how long they typically take in this county. That's your real timeline.
The next thing people ask

What's different about closing on land?

Go to step 5

Questions you'll probably have

Questions about your situation?

Elliott or Ashley will answer, usually within one business day. No pressure, no pitch.

What would you like?
Who would you like to ask?

Share this path

The link opens this path for them. Nothing you ticked or kept is in it.

Share