Many landowners have the vision to develop their property, but time passes, and they need more interest. In the long run, this can cost them money by not being able to sell their property.
Selling to a land-buying company is an option that can save them money. There are several reasons to do this.
Land buyers often have specific requirements for their properties. For example, they may seek a property with a working septic system or zoning approved for residential use. These details can take time to find out, which delays the closing process and could cause a deal to fall through. When selling your land to SellLand.com, which buys land, you can expect a much faster transaction because they usually pay in cash.
Buying companies are also typically more flexible than traditional mortgage lenders, which can help you close on your land sale sooner. Selling your land quickly in case of unexpected life events can be highly advantageous. This is why many people choose to sell their land to a buying company rather than wait to find a buyer. Then, they can move on with their lives quickly.
Many people who buy land see it as a hands-off investment, but selling can be challenging if the market turns. Compared to houses, raw land is an illiquid asset that’s difficult to sell quickly if you need money immediately.
It’s also more challenging to set a price for land because you can only check comparable sales slowly. Figuring out your highest and best use for your land can help set a realistic price. For example, if you’re selling a plot of land that could be home to a luxury development or business park, your marketing should target those buyers.
A land-buying company can help you get a cash offer for your land and close escrow quickly. They’ll handle the listing, marketing, contracts, and escrow work that can deter you from selling your land on your own. They’ll also pay your realtor commission, if applicable. This can save you time and money in the long run.
Many real estate transactions come with financial costs such as realtor commissions, title insurance, and escrow fees. Selling your land to a land-buying company gives you an all-cash deal and eliminates the fees associated with traditional sales.
To get the most out of your vacant land sale, it’s essential to promote your property to potential buyers in a targeted way. Focus on the key factors that matter to buyers, such as zoning regulations, the proximity of schools and businesses, and property tax information.
Clearing out clutter and staging the property to make it look as inviting as possible can also help sell your land. It’s also a good idea to have aerial photos or drone footage, which can showcase the property in a way that’s hard to capture with ground-level images. Having maps of the property can also be helpful to buyers. Also, consider adding an environmental study to the listing that outlines any risks or concerns associated with the land.
Selling land can be a complex and lengthy process. Often, the property must be surveyed and cleared of any environmental hazards. Some cities and municipalities require that a special inspection be completed to ensure that any future development will not disturb an animal habitat or disrupt drainage routes. Real estate agents will also charge a commission, which can add up if the property is worth a lot.
Choosing the wrong real estate agent can mean missing key considerations that could prevent you from selling your land for as much as it’s worth. For example, a real estate agent may not emphasize the land’s proximity to trendy neighborhoods or plans for local expansion, which can deter buyers.
Land-buying companies have streamlined processes that enable them to close on the sale of your land quickly and easily. They typically pay in cash, making the transaction a simpler and faster one for you. They’ll also take care of any closing costs and fees, which can simplify the process even more.