Hi, I’m Beth with TB Properties Buys Land. Today I’m going to address the question, if you’ve got rural vacant land that you’d like to sell, how do you get the process started of selling your land? So maybe you’ve got bare empty land that’s sitting there. Maybe it was inherited or it was passed down to you or perhaps you bought it many, many years ago and the dream has changed and you’re no longer utilizing that property. In any case, you’d finally like to go ahead and sell it. How do you get that process started of trying to sell your land? Especially if a real estate investor, such as TB Properties Buys Land has reached out to you.
Do you have to go searching for a copy of your old deed? What if you’ve lost it or it was burned up in a fire or you just can’t find it. Do you have to get with the county in order to move forward? Do you have to go and hire an appraiser to come out and appraise the value of the property? What about excise taxes? Do you have to get out there and clean up the property? Maybe it’s grown over the driveway and everything’s been grown over and it just needs a little bit of love and care. Do you have to do all these things to prepare your property in order to sell it? What’s the first step in working with the real estate investor?
So one of the great things about working with a real estate investor, such as TB Properties Buys Land, is you really don’t have to do any of these things. Now, when you’re working with a realtor, things might be a little bit different. They’re going to be trying to get top value for your property. So they’re going to probably have to go and hire a drone pilot to get out there and take pictures. This means you’re going to have to make the property pretty and get it cleaned up and put a little bit of money into that. But when you’re working with the real estate investor, we’re not looking for those things.
You don’t have to get out there in order to clean the property up unless you’ve got some old valuables out there that you need to collect before you sell the property, but you do not have to clean it up. It’d be great to have a copy of your past deed, but we don’t need that either because we close through a title company, they’re going to be pulling up all the past deed records, and they’re going to have that. It would have been recorded with the county. So they’ll have copies of that and you don’t have to go searching for that or worry that maybe it’s been lost or destroyed.
There’s no reason for you to have to get with the county. You don’t need to hire an appraiser to get out there either. As for excise taxes, they are taken care of at closing. Recording fees are also taken care of at closing. So are property taxes. All of these things are taken care of through the title company, in the closing process. So now when it comes to selling your property, you will need a purchase agreement in order to get that contract out between you and the buyer of the property. When you’re working with the realtor, they’ll have all that information. You’ll sign a listing agreement with them. When it comes to them selling the property, there’ll be a million pages that the buyer will have to sign as will you, the seller in order to sell that property.
But when you’re working with a real estate investor, like TB Properties Buys Land, we supply that purchase agreement to you. It’s only one page. Ours is very, very simple. It’s very understandable, and there’s no fine print, but we will supply that to you. So basically what is needed is for you to reach out to us and discuss the sale of your property. You can call us, email us, you can find us on our website, but we will ask you for the parcel number and the county or the address, whatever information you’ve got. And we’re going to look into that property and decide what the value is to us.
We will make an offer to you. Maybe we’ve got somebody who goes out there first to see the property before we make that offer, but we’ll make an offer to you. And if that’s acceptable to you, when we make our offer, we always pay for all the closing fees. Again, that’s going to cover the escrow fees, which are the fees that are paid to the title company. It covers the recording fees, the excise taxes, the property taxes that are due for the rest of the year and title insurance. If there are any attorney fees, those are paid at closing too.
What that means is that the price that’s listed on the purchase agreement, our offer price, is exactly what you’re going to get…
Beth
We say specifically in our purchase agreement that we will cover all of those closing fees. What that means is that the price that’s listed on the purchase agreement, our offer price, is exactly what you’re going to get when you leave and you go home, what the title company will pay you. So once that’s agreed upon, we send that one page purchase agreement over for your review. You’re able to do an e-sign or you can physically sign that and mail it or you can scan it after signing it, any of these ways are acceptable to us.
And we send that over to the title company. The title company will take that and they open up escrow. They open a file. And typically they’re able to close in somewhere between two and four weeks, depending on the area. They’re able to close pretty fast. Now on our purchase agreement, we state that we’re going to pay in cash. That means that there’s no need to wait on us getting a loan or getting an appraiser, or all these approvals and such, that allows us to close a lot faster. And so we wire the money over to the title company, and then they will issue your funds, however it is that you choose whether it’s in a cashier’s check or through a wire transfer to your own bank.
When it comes down to the question of how do you start the process of selling your land it’s really simple; reach out to us and you don’t have to do all this work of finding your own deed, etc. Reach out to us with your property. We’ll take a look at it and get you a price. We’ll get you a purchase agreement if you want to move forward, we close through title and title does all the work on the paperwork end. You’re able to talk to the title company throughout the process and have transparency there, and you’re able to have control of the whole process, but it’s pretty simple. We’d love to answer any specific questions that you might have. Feel free to reach out to us if you have any of those. We look forward to working with you. Thanks again for listening.