Real Estate Question: "Sold on deferral"?

[cchapman84]

We're looking at some land in our area that actually meets most of our criteria (good road but remote, stream, trees, accessible in winter, nice area with large parcels of land, preferably with working farms, etc.) that's actually in our price range (only $31,000 for 22 acres!). So, the only thing is that it's "sold on deferral" and I have no idea what that means! Does anyone know? I think it might have something to do with it not being surveyed or something, but I really don't know. Anyone? Thanks!

[Wolf mom]

Are you sure that it was deferral? Deferred sale? to defer is to put off until a future time or to give in to the wishes of another according to Webster's.

Don't believe it has anything to do with surveying. I think I'd lean more towards a first right of refusal.

Methinks you need to go to the realtor that has the listing or if it is being sold by the owner get clarification from him/her.

According to my Q & A on Real Estate, there's no definition or listing for that word.

Actually, that's why most people need a realtor or a real estate atty. Because they don't know

[cchapman84]

I think that this is something unique to Vermont, since when I google the term it only comes up with real estate listings in Vermont (of course, none with definitions). I'm thinking that it might have something to do with the Vermont land trust and the fact that some taxes are deferred when your land is in the land trust, and when it's taken out you have to pay those taxes. The other thought I had was along the lines of what you said about payment or the sale being deferred until a certain date. But I find no mention of a specific date on any of the listings I've seen that are "sold on deferral" (from multiple different companies).