Beth:
Hi, I am Beth with TB Properties Buys Land. Today we’re going to discuss letters that you receive in the mail with offers to purchase your vacant land and the validity of their expiration dates. I can’t speak for all letters that you may receive in the mail from a real estate investor who is looking to purchase your property, but here at TB Properties Buys Land, we will send letters in the mail with an offer to purchase your land. We state that we pay in cash and always close through a title company for your protection as well as ours, but we also include an expiration date on the offer that is sent.
For us, the expiration date is there for a couple reasons. First, the market changes. We know that some of you may have noticed that the housing market has shifted. It may still be stabilizing and prices have come down, but we’re starting to see that in land as well. As such, depending on how long ago you received an offer letter, the price may no longer be valid so it may be something we have to review. Another reason is that, as a real estate investment company, we have to balance the amount of funds available that we can allocate to purchase properties, so maybe when you reach out to us, it could be possible we have allocated all of our available funds and may not be ready to purchase your property. Most of the time if that happens, we have been we can partner or secure cash for acquisition in order to purchase a property but it could be a risk. We do have that expiration date on our offers just so that we can keep track of everything and understand how much money we’ve got to allocate towards purchasing and that sort of thing.
Hopefully, that explains expirations dates a bit. One of the reasons I’m addressing this is that we had a lady reach out to us who’d received an offer letter in the mail a year ago, and she thought, well, what do I have to lose in calling? I’m going to reach out anyway and see if they’ll be willing to buy my property now because I just wasn’t ready back then. And now I’m tired of paying property taxes. Back then I just couldn’t get on the ball, didn’t want to talk to anybody about it or even think about it.
Clearly a year ago she wasn’t ready. Truthfully, we all have those times when we’re ready to do something and we move forward and then we have other times that, we just need to think about it and wait and decide if that’s the right thing to do.
In any case, she reached out to us and we were able to take a look at her property and make an offer on her property in cash. Right now the property is in title, waiting to close and that’s a great thing for her. This goes to show that if you received an offer in the mail to purchase your land and it’s past the expiration date, it’s not going to hurt for you to reach out. We always welcome you reaching out and we’re willing to look at your property to see if we can move forward. If you’re sitting on the fence trying to decide if it’s too late to call, shoot us an email, give us a call; we’re happy to work with you.
Here at TB Properties Buy Land, we try to work with you so that you feel safe in the transaction, which is why we only close through title companies– title companies that are licensed to transact in the county where your property is located. We pay in cash so that you get paid quickly, and our contracts are easy to understand and only one page in length.
It is important to us that you feel secure and that there is transparency throughout the process and that you understand what’s going on. You are always able to talk to the title company directly with any questions that you might have, and you’re always welcome to give us a call and ask us any questions that you might have as well. That is the only way to do business.
Thanks again for listening. If you have any questions, please feel free to reach out to us. We look forward to working with you, and we will check back with you next week. Thanks.