Hi, I’m Beth with TB Properties Buys Land.
Are you ready to sell your rural vacant land but you’ve been watching the headlines and are worried about the real estate market right now?
Depending on the part of the country that you’re living in, it could be a little bit affected right now, or it could be very much affected by the real estate market. We’re seeing this right now in homes where the value of homes has started to stabilize. Is this something to panic about? Who knows? I cannot make market predictions but I did want to address this as something to consider. One of the biggest issues that we’ve seen when it comes to purchasing a home, or purchasing land, is that the rates in the banking world have gone up dramatically, so it’s difficult or just plain expensive to get a loan. The question is: how does this affect you if you’re trying to sell your rural vacant land?
If you’ve got your land listed on the market, and again, depending on the size of your property, your property could be a small little property in the desert, or it could be a really high-end property. When it comes to disposable income, not everybody has it and something to consider is that the more expensive your property, the more likely it is someone’s going to have to require a loan in order to purchase your property.
What we see with that is, when the rates go up for loans, people tend to be a little bit more adverse to purchasing and getting a loan. Again, what does this mean for you? Perhaps your property may be on the market for longer. The price may have to, I guess, “stabilize” or drop. Whatever you expected to make on the sale of your property, maybe what you had seen on the market this last summer, maybe even this fall, it might be a little bit different. It might be lower.
Again, every market is different, and every piece of property is different, so I don’t want to just make a blanket statement and tell you that you’re going to have to drop your listing price or that no one is going to buy your property. Still, with the market being what it is and the expectations are not that it will improve anytime soon, it may be something that you might want to consider and perhaps plan for now.
What is something that you can do proactively in order to sell your property quickly? They say that cash is king, right? Wouldn’t you prefer to be paid in cash? Wouldn’t you prefer to find someone who could buy your property now versus putting on the market and not knowing what’s going to happen months down the road – maybe six, seven, eight months, a year down the road, if your property doesn’t sell right away. There is an alternative.
We are TB Properties Buys Land: We are real estate investors and we purchase land with cash. We close through title companies, so that you’re protected. We pay for all closing costs, offer you title insurance for the transaction and we cover all escrow fees, recording fees, etc. Not only do we pay for all of your closing costs, but we also pay in cash, so you don’t have to worry about us waiting on an appraiser to get out and appraise the property, put together their report, etc. When we pay in cash you don’t have to await for a loan to be approved, that sort of thing. We’re able to close rather quickly, depending on the title company. It should be three to four weeks. Could be five weeks, depending on how fast title can close.
As we discussed, with the uncertainty seen in the market, how is that going to affect your land sale? Just be aware that because rates are going up, and your prices are stabilizing, it may affect the overall price of your property and the length of time it may take for it to sell. You do have an alternative; and TB Properties Buys Land is eager to work with you. If you have questions, please feel free to reach out to us. We’re happy to give you a free quote. Thanks again.