Can You Still Sell Your Bare Land if You Have Been Owner Financing it?

Can You Still Sell Your Bare Land if You Have Been Owner Financing it?
Hi, I’m Beth with TB Properties Buys Land. Today I’m going to answer a question that we recently received. It was kind of a unique one, but it may not be unique to you. Perhaps you have property that you are paying on, let’s just say it’s through an owner-financed contract, and you don’t actually own the property. What this means is that the deed to the property is still in the name of the property owner, and you have a contract to pay off that property with that particular property owner. The question is, if you’ve got a land contract in which the deed is not in your name, can you still sell your property to TB properties Buys Land, a real estate investor?

The short answer to that question is yes, you can still work with a company like us to sell the property. It just means that we have to get involved with the deed holder through the Title Company. That means that we’re going to work with you, we’re going to work with them, and what we’ll be able to do is essentially pay off that loan that you have to them and buy that property.

If you’ve got some equity in the property from your payments over time, you may make some money off of the sale and you won’t have to worry about the payments anymore. Hopefully, that makes sense. Let’s just say that you entered into an agreement to buy some bare land years ago or whatnot, and the dream has changed or something in your life has changed, and you no longer want to pay off on that property anymore, and you’re ready to sell it, that’s something that we can look into. Believe it or not, we have a lot of people that we work with who’ve purchased property, or they’ve entered into a land agreement, and they no longer wish to hold onto the property anymore. The payments that they’re making on that land could be better spent elsewhere since they’re no longer utilizing the property itself. If you find yourself in that situation, it may be worth selling your stake in the property.

Feel free to reach out to us. We’re happy to answer any questions that you might have, to take a look at your property, and give you a free quote. Here at TB Properties Buys Land, we always close in cash. We pay for your property in cash, which means that we don’t have to get a loan, and it takes a lot less time for us to close on the property. We always close through a title company for your safety. That way you know you’re going to get paid on the transaction, and we know that the paperwork’s going to be done correctly. It’s just a safety factor for both parties. We look forward to hearing back from you, and I appreciate you listening. Thanks again.
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