San Diego, CA · Member since 2016 · 13 posts · 5 votes
We have a vacant lot in FL (Citrus Springs) and have been paying property tax for years, while the value of the land has decreased over the years. We got a mailer offering to buy it and we are ready to just get rid of it. Any red flags or things to consider before signing the offer and sending it back in? They pay cash and cover closing fees.
In Florida it is customary for the SELLER to choose the title company. I would use a local title company that you are familiar with in which for them to send the escrow. That would be my number 1.
In addition to the larger EMD, give them a 0 day inspection period, watch out for language similar to "contract subject to partner's approval" or other similar weasel clauses, and you choose the title company.
Why not expose the property to the open market if you're looking to sell?
I am not sure if you have sold the lot yet, but we have a lot of vacant lot scams going on in Citrus County right now. The scam rate here is crazy. Beware of any buyers not represented by a Realtor in this area.