Selling land can be tricky, but it doesn’t have to be. Here are a few tips to help you sell your property quickly and hassle-free. The most important factor in a land sale is the price. Buyers want a good deal, so setting your price at the right level is important.
Working with direct buyers may be a good option if you’re looking to avoid commissions during the land sale process. These investors are experienced in handling land sales and can make the process fast and easy. Plus, they can offer you a fair value for your property and manage the transaction from start to finish. You can search the direct buyer’s portfolio online for more info. This may assist you in studying their transaction flow before you dive in. Another benefit of working with a direct buyer is that you can skip the real estate agent fees altogether. These fees can be as high as 10% of the sales price, a large sum for a tract of land. Plus, real estate agents can be difficult to deal with, especially when showing your land. They often encounter “tire kickers” who are not ready to commit to a purchase and want to tour the property.
Getting a Great Price
Direct buyers are individuals or house-buying companies that purchase homes without mortgage financing. They usually pay a fair market value for the property, ensuring sellers receive top dollar for their land sale. In addition, these buyers typically close the transaction much faster than traditional buyers who rely on mortgage lenders for approval. The process of selling land differs from that of selling houses, requiring unique marketing tactics. Land buyers prioritize land’s potential and location over pre-existing structures, such as buildings or driveways. Therefore, high-quality photography can capture buyers’ attention and increase interest in the property.
Additionally, many direct buyers are real estate experts and can handle all aspects of the sale. This makes the entire process less stressful and easier for land sellers. They can also avoid paying commission fees to real estate agents, saving them thousands of dollars.
In contrast to a mortgage-backed buyer, direct buyers buy homes with cash. That can mean a much faster closing process. Direct buyers can vary by corporate makeup, but most operate similarly. They enter the address of a home and its details into their website to get an offer price using an algorithm. Often that is lower than a home’s sale price on the open market. At closing, they charge a convenience fee that can run the gamut from a flat fee to a percentage of the sale price.
Once an offer is accepted, the company will send someone to inspect the property, lift contingencies and close. That can happen in weeks rather than the 51 days on average it takes for a traditional mortgage-backed purchase to close. However, it’s important to know that it isn’t as simple as writing one check at closing for the whole amount. Several bills need to be registered and made out to different payees. If you’re interested in selling your land for cash, it’s important to understand all of your options. The tips above can help you find a buyer and close the deal quickly and easily.