Selling a building lot or vacant land for cash in Florida and Arizona

What sets the value of a lot

A house is priced on what it is. A lot is priced on what can be built on it, and how hard that will be. A buyer, whether a builder, an investor or a family, checks the same things before making an offer. Knowing them helps you see your lot the way a buyer does.

This guide explains those checks, the papers to gather, and the rules that apply to selling land in Florida and Arizona. It gives no legal or tax advice, so check your own lot with the county and a lawyer.

Papers to gather before you ask for offers

A lot sale moves faster when the buyer can see the basics on day one. Most of these papers are in your files or on the county's website. Look up the parcel on the property appraiser's site in Florida or the county assessor's site in Arizona, and print the page.

• The recorded deed, showing who owns the lot
• The parcel number from the county
• Any survey, and the recorded plat if the lot is in a subdivision
• The last two years of tax bills, and proof of payment
• Any HOA documents and dues statements
• Any permits, soil or perc tests, or plans for the lot
• Any letters from the city or county about the lot

When the taxes are behind

Tax bills on a lot keep coming every year, even when nobody visits it, and unpaid tax stays on the lot. In Florida, the county sells a tax certificate on the unpaid tax, and section 197.502 lets the certificate holder apply for a tax deed at any time after 2 years have passed since April 1 of the year the certificate was issued. A tax deed sale can take the lot from the owner.

In Arizona, the county sells a tax lien on the unpaid tax. Section 42-18201 lets the lien buyer start an action to foreclose the right to redeem at any time beginning 3 years after the lien sale, if the lien has not been redeemed. Check the tax status with the county as soon as you decide to sell. Back taxes are paid from the sale at closing.

Property taxes when you sell →

Arizona's affidavit of disclosure for land

Arizona Revised Statutes section 33-422 asks a seller of five or fewer parcels of land, other than subdivided land, in an unincorporated area of a county to complete and give the buyer an affidavit of disclosure at least 7 days before the transfer. The buyer acknowledges receiving it, and may cancel the sale within 5 days after it is given.

The form covers legal and physical access and road upkeep, flood plain and soil conditions, utilities and water supply, including hauled water and wells, wastewater, zoning and land division rules, and nearby military airports and ranges. It is recorded with the deed. Lots inside a city, or in a recorded subdivision, fall outside this section, so check which applies to yours.

Arizona deeds: the affidavit of legal value

Every Arizona deed is recorded with one more paper. Arizona Revised Statutes section 11-1133 asks the seller and the buyer, or an agent of either, to certify an affidavit of legal value, on a form approved by the Department of Revenue, and attach it when the deed is recorded. The county recorder refuses to record a deed without a complete affidavit, unless the deed notes an exemption.

The title company prepares the affidavit with the deed. On land that also needs the section 33-422 disclosure, both papers are recorded with the deed.

Inherited land and owners who cannot be found

When a lot passes to heirs, every owner on the deed, or the person the court or the law names, has to sign. In Arizona, section 14-3971(E) lets heirs use an affidavit instead of probate when all Arizona real property in the estate, less liens, is worth $300,000 or less, no sooner than 6 months after the death. In Florida, summary administration fits estates of $150,000 or less, or when the owner died more than 2 years ago.

Tell the title company early about any owner who has died or cannot be reached, so it can say what papers it needs.

Selling an inherited house →

Selling part of a parcel

If you want to sell only part of your land, ask the city or county planning office first how a division is approved where your land sits. The Arizona land disclosure form under section 33-422 asks about compliance with land division rules, so the buyer will see whether a split followed them. Sell the whole parcel, or finish the approved split, before you sign a contract for part of it.

Florida closing costs on a lot

Florida charges a documentary stamp tax on a deed. Section 201.02(1)(a) sets it at 70 cents for each $100 of the price. The buyer and seller agree in the contract who pays it, along with the title insurance, the recording fees and the survey.

When you sell to BIMINIO, we pay the closing costs. The closing statement lists every cost and shows what you receive.

Seller closing costs in Florida →

Ways to sell a lot

You can list a lot with an agent, sell it yourself, or sell it to a cash buyer. Weigh the yearly tax and any HOA dues against the time each path may take.

Lots with problems

Some lots have a problem that stops a normal buyer: no road access, part of the lot under water, back taxes, a code lien for tall grass, or an heir who cannot be found. Each problem can be priced. Tell the buyer what you know, and ask the title company early what it needs to give the buyer clear title.

A teardown lot is a lot sold with an old house still on it, where the buyer pays mainly for the land. If your house needs more work than it is worth, a buyer may price it as a lot.

Selling a lot to BIMINIO

BIMINIO buys building lots for cash in Hillsborough and Miami-Dade counties in Florida, and in Arizona. Send the address or the parcel number, and we tell you whether we can buy it. You get a written cash offer within 24 hours, with the comparable sales we used. You pick a closing date from 7 to 35 days out, and we pay the closing costs. A licensed title company handles the closing. A cash offer is below full market value.

Selling in Tampa and Hillsborough County →