When selling land, the land buyer cash offer in Michigan payment method can make a huge difference. Cash offers are more attractive to sellers because they can close quickly and without the need for financing approval or appraisals. But there are a few things you should know before accepting a land buyer cash offer.

Verify Buyer’s Qualifications

Before you accept a cash offer, verify the buyer’s qualifications and legitimacy. Look for online reviews and testimonials. If the buyer is part of a land-buying company, check the business’s credentials and local offices.

Perform a Property Walkthrough

Before closing, tour the land with the buyer. A thorough inspection can help identify any problems, such as soil erosion or zoning issues, and give you peace of mind that the land is worth the price offered.

Ask about Environmental Testing

If the buyers are planning to build a home or commercial structure on the property, you should have environmental testing performed. This can help ensure that the soil and water are safe for development.

Consider Using Escrow

A non-refundable earnest money deposit (usually 10% of the purchase price) should be placed in escrow. This shows the buyer is serious and can close on time. If the sale doesn’t close for any reason, the seller will receive the earnest money back.

Avoid Hidden Costs