Beth:
Hi, I’m Beth with TB Properties Buys Land. In the last several videos we’ve discussed things that you might need to know when it comes to preparing to put your vacant land on the market. The goal is to make you aware of how long it might take to sell, what could delay the sale of your property, but also how to speed up the sale of your land so that your property is not the one that’s sitting on the market for say, a year or 18 months or even longer, or just isn’t able to sell at all. This is what we have discussed in the last several videos. If you need to go back and watch them, I’ll try to put a link to those below.
When it comes to ideas to speed up the sale of your land, in the very last video we talked about getting a survey so that you have an up to date, recent survey of your property and we discussed making sure that your land is presentable, that it is move-in ready, and people are going to want to buy your land versus someone else’s land down the road. We also discussed the economic situation that we’re experiencing in this country right now. We’re seeing record inflation, we’re seeing really high interest rates, and we’re seeing bank failures which is making acquiring a loan that much harder for the average person.
So what does this mean for you? If you have a more expensive property or maybe a larger property, that has a higher dollar value, it increases the chance a buyer will need to get a bank loan in order to buy from and you and as a result, it may take longer to sell. What can you do to speed that up? Here is an unorthodox answer or perhaps more of a question: can you make your property smaller? What does that mean? What I’m truly asking is, is it possible for you to subdivide your property, to essentially split your property into smaller, more affordable parcels so that more people can afford to purchase your property and you’ll be able to sell it a lot faster. How does that work? It’s not an easy process. It involves getting with a surveyor, checking with the county, seeing if you can subdivide what size properties you are permitted to have in your area. It may sound complicated but that is one idea in which you can sell your property and make it more affordable for other people to be able to purchase with cash or more easily obtain a loan from a bank.
Other ideas to make your property more appealing to land buyers include: can you put a cabin out there, maybe a tiny home? Making your property more move-in ready for people is key. Think to yourself, if you’re buying property, what’s going to make your property more appealing than someone else’s property down the road? For instance, is there power going to your property? If there’s overhead power, has a meter been put in place yet? Is there a water meter to your property? Is there a well? Is there driveway? Has part of the property been cleared? This goes back to the earlier video, which discusses making your property more appealing, and increasing your curb appeal so that people actually want to buy your property. Some of these improvements can make your property more valuable and may warrant a higher sale value. Amenities like these make people want to purchase your property over someone else’s property.
These are a few things to think about when it comes to selling your land and reduce the length of time your property could potentially be sitting on the market. There’s always that risk, and it may be important to ask: are real estate values dropping in your area? They are in some parts of the country and in some areas they are staying quite stable. I don’t want to be a fear-monger here and make you afraid, but I do want to let you know that in some parts of the country, we are seeing values fall, we are seeing properties sit in the market longer. On top of that, bank interest rates are up, banks are clamping down on loans and making it harder to obtain a loan, and so these are some strategies that you might consider in order to avoid your property not selling.
With all of this said, there is another way that you can sell your property fast and easy and sure, and that is selling to a real estate investor like TB Properties Buys Land. Not all real estate investors are the same. Here at TB Properties Buys Land, we purchase in cash. When we pay with cash, it means that we are not beholden to banks. We don’t need to await a bank approval for a loan. We don’t need an appraiser to get to the property, and we’re not worried about your property not appraising for the value that we’re paying for, and we close through a title company so that you are safe and secure in your transaction. Title companies require us to provide certified funding, ie a money wire or bank check. Once those funds have cleared, they will convey the property. Closing through a Title Company keeps it safe for you as a seller and for us as a buyer, but that’s how we work here at TB Properties Buys Land.
If you have questions about the sale of your property and how our transactions work, please feel free to reach out to us. We’re real people. We can talk to you on the phone, we can send emails, whatever works best for you, but please feel free to reach out. We’d love to work with you, and I hope this helps you prepare for the sale of your vacant land and get it ready. Thanks again.