Sell your New York land for cash

Yes, New York State charges $2 for each $500 of the price, or 0.4%. New York City also charges its own tax on land, 1.425% of a price of $500,000 or less and 2.625% of a higher price. State law lets some localities add a tax, such as 2% in the five Peconic Bay region towns on eastern Long Island. The 1% mansion tax applies to residential property, such as a house, condo or co-op, sold for $1 million or more. Ask your title company for the total, since higher state rates apply to New York City sales of $2 million or more. Source: N.Y. Tax Law 1402, 1402-a and 1449-bb, NYC Department of Finance, Real Property Transfer Tax.

The tax district can foreclose, and you can lose the land if you do not redeem in time. Under RPTL Article 11, you redeem by paying the taxes plus interest, penalties and charges, including reasonable attorney fees. The redemption period generally ends 2 years after the lien date. If no one redeems or answers, the court can enter a default judgment giving the tax district full title. Some counties and cities use their own tax laws instead, so ask your county treasurer which process applies. Source: N.Y. Real Property Tax Law 1102, 1104, 1110, 1131 and 1136.

Possibly, under a 2024 state law that covers tax foreclosure sales on or after May 25, 2023. The surplus is the sale price, or the land's full value if there was no public auction, minus the taxes, interest, penalties and charges. The enforcing officer must work out any surplus within 45 days after the sale and pay it into court. Anyone with an interest in the land just before the foreclosure judgment can file a claim with the court. No surplus is owed in some cases, such as land that drew no qualifying bids at two public auctions and went to a public entity. Unclaimed surplus goes to the tax district. Source: N.Y. Real Property Tax Law 1195, 1196 and 1197 (added by Part BB, Chapter 55, Laws of 2024, effective for sales on or after May 25, 2023).

No, the property condition disclosure statement is for homes, but land in an agricultural district needs its own notice. New York's Property Condition Disclosure Act covers property with a one to four family dwelling, not unimproved land. Since March 20, 2024, sellers who must give the statement can no longer give a $500 credit instead. If any part of the land is in an agricultural district, both parties must sign an agricultural district disclosure notice before the sale. Your county or the state Department of Agriculture and Markets can confirm whether your parcel is in a district. Source: N.Y. Real Property Law 461 and 465, Agriculture and Markets Law 310.

Not the sale itself, but converting the land to a nonfarm use can. Conversion means an outward act that changes the land's use, not just leaving it idle. A payment is due if the land had an agricultural assessment in the last 5 years, or 8 years outside an agricultural district. It equals 5 times the taxes saved in the last assessed year, plus 6% yearly interest for up to 5 years. The owner must tell the assessor within 90 days of a conversion, or a penalty of up to $1,000 can be added. Source: N.Y. Agriculture and Markets Law 301(8), 305(1)(d) and 306(2).

Yes. You do not need to live in New York to sell New York land. Liberty Acres buys land anywhere in the US and closes through a title company. We pay back taxes and all closing costs. There are no agents and no commissions.

Often, yes, as an estimated income tax on any gain. A nonresident individual, estate or trust selling New York real property must estimate the tax on the gain on Form IT-2663. For 2026 the rate is 10.90% of the gain, paid when the deed is recorded. If the sale is a loss for federal income tax purposes, the seller can certify that no estimated tax is due. Ask a New York tax professional how this applies to your sale. Source: N.Y. Tax Law 663, Form IT-2663 (2026).