Skip These 7 Steps When You Sell Land for Cash
Before setting out to sell land by owner, you should be aware of all the steps so you know what you're getting into. Some of these steps require spending money, some of them may make you uncomfortable (like dealing with potential buyers), and all of them will take your time.
Of course, you could also list the property with a real estate agent who could take care of many of these tasks. But maybe you don't know of a real estate agent in your area who will sell vacant land or maybe you were hoping to sell land fast.
Companies like ours exist to make it very easy to sell your land for cash. We can provide quick cash for land of any type, size, or value and let you skip the hassle.
Before committing to selling land by owner, consider whether you may prefer to skip the following 7 steps and request a fair cash offer for your land instead.
1. Preparing the property for sale
Some preparation will normally be required to show your land in the best possible light to prospective buyers. This could be anything from mowing or bush hogging, mending fences or a gate, or taking down a run-down building. Preparation may also mean fixing title issues or having a survey performed - really anything that would slow down the sale of your land.
Selling land for cash is different because it's understood that you're selling the property as-is. This means that the land buyer knows they'll have to take on some of the TLC that you skipped. They'll also coordinate any legal documents needed to legally transfer ownership of the property.
2. Getting professional photography of your land
Photography sells land as we've written about in Should I Hire a Real Estate Photographer? Nowadays, most of the ways to sell your land require photos so this is typically one of the steps you'll take.
You can skip ordering photography if you're selling to someone who buys property for cash. They'll be interested in the raw land for investment purposes, so attractive photos aren't as important as they would otherwise be.
3. Posting a for sale sign on your land
Getting a for sale sign up is an important step in advertising your land for sale, and we've written about how you can get a quality sign made for less than $100. This allows passersby to take notice of your land sale and also makes it easier for a potential buyer to find the property.
Still, creating and putting up your for sale sign is tedious, especially if you don't live near the property. You can skip this step when selling your land for cash.
4. Talking to neighbors
Neighbors are some of the most likely buyers of your vacant lot, so we always recommend alerting them when selling land by owner. We even recommend sending out letters to all neighbors within a certain distance of your land.
But some people may not know the adjacent property owners or would not feel comfortable talking to them about a financial matter like selling your land. With a cash sale of land, you can avoid this uncomfortable situation by selling to a professional we buy land company.
5. Posting the property for sale online
There are many places to list land for sale on the internet including free sites like Zillow, Facebook, and Craigslist as we've covered in our guide How to Sell Land Online.
Besides neighbors and your for sale sign, the internet is the best way to sell vacant land. To do this effectively, you'll need to create ads on various websites and in most cases also repost your ads frequently to make sure they're being seen.
There may be a learning curve to posting on these different websites and it can be tedious to repost your ads every few days. It can also get old dealing with 'tire kickers' who will reach out with questions with no intention of actually buying land.
6. Responding to potential buyers
Once you have your advertising in place, you'll need to respond to prospective buyers. Land buyers tend to have many questions - for example, what utilities are available, whether they can build on the land, or whether there are any restrictions on the property.
Some potential buyers will also expect you to meet them at the property, which might be inconvenient depending on your schedule and whether you live near the land or not.
7. Negotiating the land sale contract
If you're fortunate enough have a serious buyer for your land, next you'll need to negotiate the deal and finalize the purchase and sale agreement.
There are many resources available to make this easier. We recommend using the contract forms created by your state's real estate commission. For example, the Texas Real Estate Commission contract forms provide an Unimproved Property Contract appropriate for selling vacant land. You could also use a contract from a legal document provider such as US Legal or Rocket Lawyer.
Still, the thought of haggling with a potential buyer and then working through a legal agreement is unappealing to some land owners.
Alternative to the 7 steps - sell land for cash
One alternative to the steps required to sell land by owner are companies that buy land for quick cash. If you decide the 7 steps above aren't for you, Sell Now Land Buyers will provide a fair cash offer for land.
In exchange for selling your land at a discounted price, you'll be able to skip the hassle of selling land by owner and get straight to the sale. A cash buyer not only greatly simplifies the process, but also speeds up the process giving you access to fast cash in as little as two weeks.
When we buy your land for cash, you also won't have to go out-of-pocket to prepare the land for sale or pay any closing costs. So, if you're looking to sell land fast, consider requesting a cash offer today to get started.