Beth:
Hi, I’m Beth with TB Properties Buys Land. Today we’re going to talk about selling your vacant land and creating cash flow for yourself by the sale of your vacant land. Who wouldn’t like to receive monthly payments on the sale of their land? If, perhaps, the property that you’ve got, maybe it’s 10 plus acres and it was passed down to you, or maybe you purchased this property with the hopes of camping on it with your family each weekend or going hunting, maybe even retiring and building out there one day. Maybe things got busy, or the dream has changed and you’re no longer utilizing that property.
As your property taxes are due, you start to reevaluate and think, “Why am I holding onto this property when I’m not utilizing it? Why am I continuing to pay taxes on it?” But maybe you don’t want to sell your property and have a lump sum cash payment for the sale of your property. Maybe you don’t want to pay taxes on those earnings at the end of the year, but you would like the safety and security of a monthly income based on the sale of that property.
Is that something that you can do? Absolutely. If you own the property, you can absolutely sell your property by owner. In fact, we talk about just that: we’ve got a couple videos you can watch on selling your property by owner, and when it comes to selling it and making a profit each month on the earnings of the property, you can do this. It’s called owner finance. It’s a really popular way for people to purchase property, especially people who cannot get a loan from the bank. They like to seek out owner finance options. Sometimes banks make it difficult to loan on vacant land. Sometimes people’s credit isn’t so great, and that’s why the owner finance option is really popular.
Can you do this on your own? Absolutely. Are you going to have to do some research to figure out how to do that? Probably. Unless you are in the lending business. But you’re going to have to find a contract, and I’m sure that you could Google and find a good contract out there. You’re going to need to find ways to protect yourself should the buyers miss a payment to you or what if they’ve built on your property and miss payments? How do you protect yourself on being able to get your land back or get those payments from the buyer of your property? Do you close through a Title Company? What kind of interest rates are you going to charge? Monthly payments? That sort of thing. This is absolutely an option for you if you’re looking for a monthly payment.
If you don’t feel comfortable doing this on your own, feel free to reach out to TB Properties Buys Land. Most of what we advertise is purchasing your property in cash, closing through a title company, and you receive that normal lump sum payment. But if it’s important to you to have a monthly payment, that’s something that we’re willing to entertain. We can provide the very simple contract, we can work with you, show you payment schedules. To be perfectly honest, these are sheets that can be found online so you can trust and put the different options in there for a down payment that you like. You can play with the interest rate and the monthly payments that you want. We can put those tools in your hands so that you can decide what you want, what you feel comfortable with, and then we can still close through a title company so that you feel secure. We would send our down payment to the title company. They would do the title research. We can help set up a way of debiting those monthly payments from us and crediting them to your account and have that paperwork enhanced so we can help you through that process if you want to sell to us.
This is just another option when it comes to selling your bare land, especially if you would prefer to receive monthly payments to being paid in cash all at once. It’s something that we’re willing to look at and we can talk to you about your options. Just feel free to reach out to us about that. If you have any questions, we’re here. I look forward to hearing back from you, and thanks again.