Companies That Buy Land Fast for Cash - 5 Things to Ask Before Selling Your Vacant Land
If you're ready to sell your property, you might consider finding a company that will buy it fast for cash. But before you sell, there are a few things you should ask. First of all, is a cash offer even right for you? We'll answer this question and more.
In this article, learn 5 questions to ask companies that buy land for cash.
1. Do you need to sell your land for quick cash?
The first question you should ask is whether you really need to sell land fast. Of course, there can be many benefits to selling vacant land for cash. You can get cash out of the property faster and sell your parcel "as-is."
But keep in mind that land buying companies tend to purchase below market value. These businesses need to make a profit and they have a number of expenses including paying the closing costs, real estate agent sales commissions, and advertising costs.
If you don't truly need to sell quickly, then you may have other options. The traditional way would be to list your property with a real estate agent. If you prefer selling vacant land without a realtor, you might consider selling the land by owner. On this website, we have dozens of articles showing you how to sell by owner.
2. Would selling land fast allow you to better use the money?
If you don't need to sell your land fast, you still might consider whether this is the best solution for you. If you did sell the land quickly, is there something else you could use the money for?
When listing raw land with a realtor or selling by owner, it's not a question of when the property will sell, but if the property will sell. Selling for cash is the only way to have certainty about selling and the price you'll get. In the meantime, is the land just sitting there costing you money?
3. Do they buy vacant land in your area?
Once you've decided you want to sell vacant land quickly, you'll want to contact a land buying company. The first thing to ask the cash buyer is, have they purchased land and lots in your area?
If they have bought properties near you, do they have buying criteria they can share with you? For example, is there a minimum or maximum acreage that they buy? Are there certain property types that they specialize in?
4. Do they use a title company to buy land?
The next question to ask is whether they use a title company or real estate attorney to handle the closing. This is an important step to make the transaction safe for both the seller and the purchaser.
For the seller, a title company provides protection by ensuring that the documents required to legally transfer the title to the new owner have been prepared properly.
The title company will hold the buyer's funds in escrow. That means that the title will not be transferred to the land buyers until the purchase funds are ready to be sent to the seller.
5. Does the land buyer pay for all closing costs?
Ask the we buy land company if they pay for all closing costs. Closing costs can add up significantly, so if the purchaser covers these costs it's more money in the seller's pocket. These fees can include transfer taxes and recording fees as well as
property taxes. In some cases, the purchaser will even pay back taxes if they're not too high.
Still looking to sell your vacant land? Contact us for a cash offer
We've seen some of the factors to consider in considering a cash offer. If you're still saying, "I want to sell my land fast!", call us today. Our contact number is (888) 326-9360.
We buy land nationwide and would like to make you an offer. We'll give you a fair cash offer to sell your property quickly, and hassle-free. We're interested in buying land properties of any size.
It's also the easiest way to sell. You'll be selling your property as-is and without contract contingencies. And we'll guide you through each step of the sale process.