Hi, I’m Beth with TB Properties Buys Land and today I’m going to talk about what the costs are to you as the seller when you’re working with TB Properties Buys Land. So in order to address what the costs are to you as a seller, I have to talk about what the costs are if you’re working with a realtor or selling on your own, instead of working with somebody like us.
So if you’re working with a realtor or on your own, if you want market value for your property, you’re going to have to have that property in tip-top shape. Chances are, if you’ve got rural vacant land that you’re willing to sell, you’re probably not keeping it up. You know, like we do with our houses, we mow our lawns, we’ve got the sprinklers going, we pull the weeds. If you haven’t been out there in a while and you want market value for your property, you’re going to have to make sure that driveway, if you’ve got a driveway to the property, that it’s cleared, that those saplings have been cut down, that there’s gravel going to your property if that’s been filled. You have to make sure there aren’t any potholes in the roads so people can get there in the winter months or in the rainy months.
So there’s going to be some money involved in making sure your property is marketable. And then you there’s money for getting pictures, or maybe even video of your property. If you hire a realtor, there’s a cost involved there. So when you sell a house, normally that’s a 6% split between the buying and selling agents. When you’re selling rural vacant land, because the cost of land is cheaper than a house, it’s a 10% split, five and five. So you have to consider 10% of whatever your sell price ends up being. Not your list price, but whatever that sell price ends up being, you’re going to lose 10%. That’s going to go to the realtors on either side of the transaction.
How about closing fees? When you’re selling your land, you’ve got closing costs. There are escrow fees that go to the title company: buyer’s escrow fees and seller’s escrow fees. Okay, that’s split between buyer and seller. Title insurance: title insurance is typically paid for by the seller. That would be you paying for title insurance when you sell that property. There’s recording fees that go to the county, there’s excise taxes or transfer taxes that are paid.
Now when you work with TB Properties Buys Land, you have none of these costs involved.
In our one page purchase agreement we state that we cover all of the closing costs.
All of these things have to be considered as costs when you’re selling your property. Now when you work with TB Properties Buys Land, you have none of those costs involved. TB Properties Buys Land does not require you to take your property and make sure that it looks good. We don’t need you to fix it up. We don’t need you to take pictures and video for us. We’re not going to ask you to pay for your sellers escrow fees when you go to the title company. We’re not going to ask you to pay for title insurance. You will not pay for the recording fees or the excise taxes or any of that.
In our one page purchase agreement, we state that we cover all of the closing costs. Any attorney fees, if there’s title issues, we covered those as well. The only thing that we say is if you’ve got liens against your property, or if you’ve got a mortgage against your property, we do say that you would pay for that unless we otherwise agree on something different. But it’s the only thing that we ask you to pay for. So you walk away from the transaction getting exactly the amount of money that’s on that one page purchase agreement.
There are no out-of-pocket costs for you. What we say on that purchase agreement is exactly what you’re going to get. So hopefully I’ve lined that out for you so that if you’re looking at selling your property, you can consider what the costs are. If you’re selling with a realtor, how long it’s going to take, are you willing to wait that long and then compare that to working with an investor, TB Properties Buys Land, and being able to get that property sold to us, in a matter of two to three weeks. Closing through a title company, where you’ve got that third party, your cash that we offer you is paid to you via the title company. So it’s secure and it’s safe for both parties.
But if you have questions, please feel free to reach out to us. You can email us at service@tbpropertiesbuysland.com, or you can give us a shout at 214-699-4455, but we’re excited to talk to you and look forward to working with you. Thanks again for watching.