Inside TB Properties Buys Land Series
Hi, I’m Beth with TB Properties Buys Land. I wanted to discuss why we are going in depth in our Behind the Scenes, how we do things at TB Properties Buys Land. I’ve talked extensively in the past about safety when selling your land and even our previous series was entitled, The Safe Sale Series. Today, I thought we would discuss one of the big questions that is important to most land sellers and that is: “how much am I going to get paid for my land?”
A lot goes into the offer price. I spoke with a really great gentleman in Missouri here recently, and he had mentioned that he had a realtor friend and he shared the price per acre figure that the realtor friend had given him. However, when I looked at the comparable properties in the area, it was nowhere near there. He had a great property but the figure given was not in line from what we had seen.
This brought up another thought to me. When you look at comps, you might look at other properties lised in your area and you might think, “Hey, this is what I’m going to get.” But is your property really like kind? I was looking at another property in Washington State, in Okanogan County up there, and I was looking at the comps and I saw some great numbers. Then I started digging deeper into these numbers. Maybe they’re listed for say $100,000, but what are they actually selling at and how long are they on the market for? So when it came down to it, really the sell price for the comparable amount of acreage was more in the $80,000 range. And some of these listings were there for longer than a year! The listing had expired and then they had created a new listing for that same property.
So when it comes to what price you’re going to get for your property, there’s a lot of things to consider. It’s called a comp because it’s supposed to be comparable. You might ask yourself: is my property really like these other properties that are listed on the market? What does the topography look like? What does the access look like? Are there a lot of trees? Is there an area that’s already cleared and ready to build like in the other listings? Or is there land that has to be cleaned up, a driveway put in, the road needs work, trash hauled off? What are the neighbors like? What’s the zoning? These are a few examples of the things that we look at when it comes to checking a comparable, “like kind” property. Additionally, we have to look a little bit deeper and see how long might this be on the market, what is the market risk? These are a few factors that we take into consideration when we provide an offer price for some of our land sellers.
When it comes to the negotiation part, we always like to be as transparent as possible with our land sellers. We explain to sellers what we’re seeing when we look at their specific property, and what is dictating our price. They may not like the particular offer price but if they don’t, we always explain they have other options available. If it comes to that, we just try to make sure that we part on good ways, but we’re here if they want to come back to us and sell their property.
Why sell to TB Properties Buys Land? We are great when it comes to buying your property quick. We’re not going to play games and try to list your property while it’s still under contract and while we’re still trying to buy it. We’re going to buy your property outright: no moving the close date.
We pay cash and we close quickly. We close with reputable title companies so everything’s done right paperwork-wise, and so that you’ll get your funding quickly and reliably and safely through that title company. We try to be honest and transparent. We make sure you’re copied on that email to the title company and be able to reach out to them directly if you wish to do so. If you have property throughout the United States, we tend to buy 10 plus acres. Sometimes we look at some smaller acreage, but we tend to buy a little larger properties. Reach out to us; we’re happy to look at your property and get you a price. If we can work with you, super. If not, we wish you the best of luck on the sale of your vacant land. Thanks again for listening.