Hi, I’m Beth with TB Properties Buys Land. Today we’re going to discuss the benefits of selling your vacant land to a real estate investor, such as TB Properties Buys Land, over the traditional route of using a realtor or real estate agent. Right now, the biggest benefit to working with the real estate investor is that you’re going to be able to sell your property quickly. Real estate investors, such as TB Properties Buys Land, we pay in cash, so we don’t have to wait on a loan approval, we don’t have to wait on a appraisal from the bank, loan approval, et. We pay in cash, and we always close through a title company. Some title companies can close as fast as two to three weeks, others, in three to four. If it’s complicated, we’re looking at five to six weeks. So, that’s fast. Also, you’ve got a guaranteed price. You know exactly what you’re going to get for selling your property.
When you put it on the traditional market, the MLS, your real estate agent might list it for a price, but who knows how long it’s going to sit on the market, since we don’t know how long it’s going to take for that to sell. You also don’t know how much it will actually sell for. On top of that, you’re looking at the realtor fees on either side of the transaction. Specifically, for vacant land, oftentimes realtors can charge 5% on each side of the transaction. With that, expect that 5% of the sale price from your proceeds will go to your realtor and expect closing costs to be substantial. If a survey is required, that’s another cost that you’ll have to incur. These costs can definitely eat into your profit.
Another factor to consider right now is that we are in a transitional market. You can look at any news media outlet, and you’re going to see that the housing market is starting to stabilize, it’s starting to come down, prices are starting to drop and homes are taking longer to sell. Don’t take my word for it. Go to Zillow, go to realtor.com and check that out for yourself.
With that said, we’re starting to see this roll over into the vacant land market. Just this week, we’ve had several people reach out to us asking us to buy their land, and they’ve already had it listed with the realtor for several months. They’re not seeing any movement, they’re not seeing people wanting to look at their property, and that’s why they’re reaching out to us, asking if we’d be willing to purchase their property for cash so they can be done with the sale and get on with it. Oftentimes, when you work with the realtor, you’re committed for six months. They put your property on the market, and who knows how long it’s going to take? Again, if you don’t trust me, go to Zillow, go to Realtor.com, and look at how long some of these properties are out there on the market for.
The bottom line is that when working with a real estate investor such as TB Properties Buys Land, since we pay in cash, we can close quickly, we are not awaiting any sort of approvals from a bank or an appraiser, any kind of lender, and because we close through a title company, you’re protected. We are going to pay cash to that title company, and they’re going to fund you once the transaction is concluded. They’re going to draw up the paperwork, they’re going to make sure everything’s done correctly. In this way, both sides, both you and we as the investor, are protected by working with that title company. Again, we can close quickly, think two to five weeks for a closing date at a guaranteed price, because we cover all closing costs.
That includes the escrow fees, those are the title fees that both the buyer, us, and you the seller, would have to pay. We pay for both sides. We pay for the recording fees that go the county, we pay for a survey if that’s required, any kind of attorney fees, and if there’s any excise taxes, we pay for those as well. In this way, you know exactly what you’re going to walk away with. Still, if you have any questions, please feel free to reach out to us. To reiterate, right now, in this transitional market, it might be beneficial for you to work with a real estate investor to sell your property fast at a guaranteed price. If you have questions, reach out and we’ll see if it works for you. Thanks again for listening.