Selling land and lots in Texas – What to know and expect
Selling land is quite different from selling a house, and it can be very challenging in any market. In this blog post we will present different strategies for selling land, and some things to keep in mind when selling to an all-cash buyer.
Selling land: What do I need to know?
The first thing to understand when selling land is that your land buyers will be very different from typical home buyers. Rather than looking for a move-in ready house, land buyers usually look for a lot that will allow them to customize and build to their needs. Their main requirement will be location, location, location. The challenge in that is: different locations can be appealing to different buyers. You might want to write off a hard-to-access parcel far from the city, but it might be the perfect location for farming, timber, or developing a rural retreat. The key to selling your land is to find the right buyer at the right time.
The second thing to consider is how to market your land. Unlike holding an Open House, selling land does not always require the buyers to see it. Land buyers will assess the area based on aerial photography, topographical maps, flood maps, county restrictions and road access. They will also look at the availability (or lack of) utilities like water or sewage.
Selling land by yourself will take a lot of patience, effort, and funds for advertising.
How do I advertise my land?
Let’s say you decide to sell your land yourself—without listing with a real estate agent. How will you find buyers? You’ll need to advertise.
To properly advertise your plot of land, you’ll need to do a survey, hire a photographer, and list your property on land networks such as lotnetwork.com. As you can imagine, these costs will quickly add up. Listing services often require monthly fees, and it might be months before your parcel actually sells. Don’t underestimate the expenses you can incur when selling your land on your own.
The other option is to hire a real estate agent to list the land for you. The upside to this is that you likely will get higher offers on your lot. That is, if the agent is working hard to help you. The downside (aside from paying commission fees) is that listing land is seldom a high incentive for agents. Unless you are selling a large amount of acreage, a small parcel of land will result in a very small commission for agents. Unfortunately with the low return, agents are hesitant to aggressively market your land. Oftentimes your land will be listed for months without results.
Working with a land cash buyer
Your third option would be to sell your land directly to a cash buyer. That’s us! With this method, you avoid having to wait months to get results. Our fast purchasing process will save you from months of incurring taxes and fees, and you’ll walk away with cash in your bank account in a matter of weeks (if not days).
We will take care of all back taxes, liens, lost deeds, trashed properties, and any other “problem” that might deter you from selling your land.
Are there any cons to the process? Just a few:
- We don’t buy all properties. We do have a set of criteria that we’re looking for, and if your property does not fit—sorry. As much as we want to help everyone, we cannot buy all lots.
- We do not pay full market price. We pay a fair value and do our best to pay you as much as possible. But with the nature of cash deals, we are taking on a lot of risk in buying your property outright. We’re not getting loans from the bank—there is no financing and you get a lump sum of cash right at the closing date. We save you time, fees, and hassle. If you want to take your time and try to get a higher offer on your land, by all means consider listing with an agent instead.
Well, in addition to getting cash fast, we also give you peace of mind. You can:
- Leave all your trash.
- Not bother mowing the grass, cutting any brush, or cleaning the property in any way.
- Keep more money: Don’t bother spending your money on getting a survey.
- Not hire an expensive aerial photographer.
- Save money by not paying monthly listing fees (or agent commissions).
- Stop paying taxes.
Interested in a cash offer?
Consider all your options carefully. There is no right or wrong way to go, and everyone’s individual goals and needs will be different. The important part is to choose the right fit for you.
Are you interested in getting a no-obligation cash offer? Get your offer here >>