How is land prepared for trade to be zakatable, and is its value zakatable once upon sale, or annually, and then is the zakat collected upon sale?

If the purpose of purchasing land is for trade and sale, then zakat is obligatory on its value at the end of each lunar year (hawl). Its hawl is determined by the hawl of the money with which it was purchased. The land is appraised at market value, and 2.5% of its value is to be given as zakat. This is the view held by most scholars. What has been mentioned about zakat being obligatory only once upon sale, or the permissibility of delaying it, is incorrect, except in cases where it is impossible to access the funds.