“We’ll pay cash for your land.” Have you gotten a letter in the mail from a real estate investor saying they’re going to pay cash for your rural vacant land? Maybe you’ve gotten a text message, or a voicemail from someone claiming that they’re going to pay you cash for your land.
What exactly does that mean, when they say they’re paying cash? And how are you going to get paid exactly? I’m Beth with TB Properties Buys Land and we are real estate investors who pay cash for your land.
There are different distinctions that you’ll want to look for, if you’re considering working with a real estate investor. When working with a real estate investor, you could end up being paid in cash, but are they actually paying in cash? I ask this because the distinction is important: the reason why is because of how long it may take to close on the transaction. If that real estate investor needs to get a loan in order to pay you for your property, there could be an approval process that would extend the length of time in order for you to sell your property. Maybe they need to get a loan, and they need to be approved for that. Maybe there’s an appraiser who needs to come out. So, now we’re waiting on the appraiser. And then, you’re waiting on the lender after that. This could be a 60 plus day process in order for you to sell your land, if someone’s needing a loan.
Now, a real estate investor is actually paying cash for your land. That means they can close a lot faster. Now, it depends on the area, it depends on the title company, but sometimes for cash transactions, if it’s not a really, really busy time of year, these transactions can close as fast as two weeks, two to three weeks, maybe it’s longer like four weeks. But having cash allows one to pay a lot faster, and to close a transaction a lot faster. There’s no need to wait on appraisers and lenders. And if that lender falls out trying to start over with a new lender.
Now, how are you going to get paid? All right, let’s just say that the real estate investor is paying you cash. You want to make sure that you are protected in this transaction. And that you’re working through a title company. The title company is going to pull the paperwork there to make sure that everything closes right. But they’re also a third-party intermediary. So, whoever’s buying your property is going to pay the title company. The title company is going to make sure that they’re paid with certified funds. There’s actually money in that account. There’s no private check, or anything like that. And then, once that title company receives the funds, and everything has cleared. Then, once everything is recorded and everyone’s paperwork is in, they will pay you the seller. That way, you know that you’re getting paid certified funds, you know that you’re going to be paid and everything’s going to be done correctly. There’ll be title insurance, all of that will be done.
So, if you’re working with a company like TB Properties Buys Land, we will close through a title company, and we’re going to pay cash so that things are going to move fast. You’ll get paid quickly but also, you’ll know you’re protected by closing through that title company.
The title company will talk to you directly. We’ll hold your hand. We’ll walk you through the process. We’ve got the paperwork, that’s all easy. But you do have the chance to talk to the title company and they’ll ask you, “Hey, would you like to be paid with a check, where we’ll mail that to you, we’ll overnight you the check? Or would you like that wired directly into your account?” And if so, they’ll take your information. That’s not something that we will take from you. All of that will be handled through the title company that way you know you’ve got a good third-party you’ll be working with.
So, if you’ve got rural, vacant land that you’re interested in selling, and you’ve got questions about working with a real estate investor, or how we work, feel free to reach out to us. You can give us a call, or shoot us an email, or find us through our website, tbpropertiesbuysland.com. Thanks again for tuning in.“We’ll pay cash for your land.” Have you gotten a letter in the mail from a real estate investor saying they’re going to pay cash for your rural vacant land? Maybe you’ve gotten a text message, or a voicemail from someone claiming that they’re going to pay you cash for your land.
What exactly does that mean, when they say they’re paying cash? And how are you going to get paid exactly? I’m Beth with TB Properties Buys Land and we are real estate investors who pay cash for your land.
There are different distinctions that you’ll want to look for, if you’re considering working with a real estate investor. When working with a real estate investor, you could end up being paid in cash, but are they actually paying in cash? I ask this because the distinction is important: the reason why is because of how long it may take to close on the transaction. If that real estate investor needs to get a loan in order to pay you for your property, there could be an approval process that would extend the length of time in order for you to sell your property. Maybe they need to get a loan, and they need to be approved for that. Maybe there’s an appraiser who needs to come out. So, now we’re waiting on the appraiser. And then, you’re waiting on the lender after that. This could be a 60 plus day process in order for you to sell your land, if someone’s needing a loan.
A better option is when a real estate investor is actually paying cash for your land. That means they can close a lot faster. Now, it depends on the area, it depends on the title company, but sometimes for cash transactions, if it’s not a really, really busy time of year, these transactions can close as fast as two weeks, two to three weeks.. Having cash allows one to pay a lot faster, and to close a transaction a lot faster. There’s no need to wait on appraisers and lenders. Especially if that lender falls through trying to start over with a new lender.
Next question: how are you going to get paid? Let’s assume that the real estate investor is paying you cash. You want to make sure that you are protected in this transaction. You do this by closing through a title company. The title company is going to pull the paperwork there to make sure that everything closes right. But they’re also a third-party intermediary. So, whoever’s buying your property is going to pay the title company. The title company is going to make sure that they’re paid with certified funds, that there’s actually money in that account. There’s no private check, or anything like that. And then, once that title company receives the funds, and everything has cleared, then, once everything is recorded and everyone’s paperwork is in, they will pay you the seller. That way, you know that you’re getting paid certified funds, you know that you’re going to be paid and everything’s going to be done correctly. There’ll be title insurance, all of that will be done correctly.
If you’re working with a company like TB Properties Buys Land, we will close through a title company, and we’re going to pay cash so that things are going to move fast. You’ll get paid quickly but also, you’ll know you’re protected by closing through that title company.
The title company will talk to you directly with regards to closing and funding you. We will also be there to hold your hand through every step of the way. We’ll walk you through the process. We’ve got the paperwork, that’s all easy. But you do have the chance to talk to the title company and they’ll ask you, “Hey, would you like to be paid with a check, where we’ll overnight you the check? Or would you like that wired directly into your account?” And if so, they’ll take your information. That’s not something that we will take from you. All of that will be handled through the title company that way you know you’ve got a good third-party you’ll be working with.
If you’ve got rural, vacant land that you’re interested in selling, and you’ve got questions about working with a real estate investor, or how we work, feel free to reach out to us. You can give us a call at 214-699-4455, or shoot us an email, or find us through our website, tbpropertiesbuysland.com. Thanks again for tuning in.