I've been working with buyers looking for undeveloped land.  Good plan.  We found some that worked, negotiated price and terms, and voila!  Under contract.

The seller made it clear that the land hadn't ever been surveyed, a fact which didn't deter the buyers.  Except that it became a question of about 2 acres (of a 4 acre parcel).  Now, buying 98 acres instead of 100 is one thing, but buying 2 instead of 4 is a huge mistake.

Fortunately, the offer we wrote had appropriate contingencies to protect the buyers just in case something like this came up.  Ultimately, the seller didn't even want to split the cost of a survey to resolve a few issues and move the sale forward. 

So...my buyer walked, and had the deposit returned.

Moral of the story:  1.  Make sure any offer you write protects you. and 2.  Don't try to sell land that you don't have any idea how big it is.

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