Did Your Contract Offer Expire: A Case Study (2yrs later!)

Did Your Contract Offer Expire: A Case Study (2yrs later!)

Hi, I’m Beth with TB Properties Buys Land. Last week we discussed, if the date on an offer letter to buy your rural vacant land has expired, should you still reach out or is it too late? We had recommended that you reach out regarding selling your land, because it’s still possible that companies like TB Properties Buys Land might be interested in buying property in that area. We may just have to reevaluate the area, the property itself and possibly refigure a purchase price, or it may in fact be the same. Either way, it’s never too late to reach out, even if your offer letter has expired.

Today, I want to discuss a case study in which we had a young lady who owned property up in Klickitat County, Washington, and we had sent her an offer for one of her multiple properties two years ago and she replied, “I’ve actually got three other properties.” She had a total of four parcels she wished to sell and so we refigured our offer price but after several conversations she decided she was not in fact ready to sell. I am not sure if she wasn’t ready, or perhaps she thought she might want to hold onto it for longer, or maybe she was holding out for more money, but she just wasn’t quite ready to sell. A year went by and we talked again and she still wasn’t quite ready. She was thinking about it but wasn’t sure. We did look back at it; gave her an offer price and she still waited.

Another year went by and we talked to her again last month, and I can finally say the property is under contract. We put together our one-page purchase agreement and within it, we gave her the price discussed and that we are paying for all closing costs. We’re covering all the closing costs and what that includes is, we’re paying for the buyer’s and the seller’s escrow fee, (those are the fees that go the title company for their preparation and work), we’re paying for the title insurance, the excise taxes that take place there in Washington, as well as recording fees for the transaction being recorded in Klickitat County, so we’re covering all the closing costs. She’s got a final figure on that purchase agreement, and she is confident from the clear wording on our contract and from speaking directly with the Title Company, that she’s walking away with the full dollar figure at the close of the transaction. She also knows that since we’re closing through a title company, that she’s going to be protected from any scam-type operation and that the Title Company will be the one to provide her the funds.

It may have taken two years from the time that we sent her an offer letter to the time that she is selling her property and finally getting paid for it, but it worked out. Obviously, the offer letter she had received had expired but she reached out to us and we were still willing to purchase the property from her. We came to a final agreement and she’s getting what she wants on the timeline that worked for her.

So if you have received an offer letter in the mail from TB Properties Buys Land, or hey, if you’ve received a letter from somebody else and you didn’t want to move forward with them, maybe you didn’t think that they were a safe option to go with, or perhaps you have some other reservations, but you’d like to work with TB Properties, we’re willing to look at your property. We’re generally looking for 10+ acres of vacant land. We do, once in a while, purchase property with structures on it. But let us know. We’re always willing to look at the property and give you a price. Information that we’re going to need from you, though, is the county and state where your property’s located and an APN, an assessor’s parcel number. Or if you don’t have that information, you should be able to find it on your property tax statement but if we know the name that the property is listed under, we can look that up oftentimes through the county’s websites.

In closing, if you’ve got vacant land you’re interested in selling, whether it’s inherited, or if you’ve just had it for a long time and you’re not doing anything with it, it’s not going to cost you anything for us to give you a quote, and maybe it’ll work out now, or maybe it’ll work out in a year or two years, but if your offer letter has expired, don’t worry about being too late to reach out to us. We’re always willing to look at your property again. Thanks again for listening again and we look forward to working with you.

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