Many landowners choose to sell their vacant land for a variety of reasons. From addressing immediate financial requirements to pursuing personal aspirations, liquidating land assets offers a fast, reliable way to convert real estate capital into cash returns. Whether you’re considering selling your property on your own or working with an established local land company, it’s vital to evaluate both the pros and cons of each option.
Pros of Selling to a Nevada Land Company
Local land companies specialize in acquiring and selling parcels of land across the state and possess the resources to handle pricing, marketing and closing processes in a timely manner. They also operate on a buy wholesale, sell retail model which enables them to turn a profit by purchasing land at a discount and reselling it to end users at a higher retail price. As a result, land company fair market offers frequently align with professional appraisals and are noticeably lower than the higher list prices you might secure if selling your property independently.
In addition to avoiding the steep listing fees typically associated with traditional real estate agents, selling your land directly to a pros and cons of selling to a Nevada land company reduces upfront costs and eliminates the need for a survey and title insurance policy. In exchange, you’ll likely have to complete a property disclosure statement to disclose any known issues with the site that could impact its value or prevent another buyer from enjoying the same use as you had.
Choosing to sell to a local land company can reduce the time it takes to sell your property and can provide an additional source of liquidity from the proceeds of your sale. However, if you’re concerned about the potential for a low fair market offer compared to what you could have secured on your own, consider offering owner financing, wherein you allow the buyer to pay you in smaller monthly installments (plus interest) instead of paying in one lump sum up front.
Convenience and Speed
Establishing a land website, drafting descriptive real estate listings and distributing brochures are the most important steps to take when selling your property without the help of a broker. Make sure you have high-quality pictures of your property, and clearly articulate the attributes that make it unique and valuable such as views, terrain, vegetation, access details, and proximity to towns and utilities.
Consider Offering a Buyer Agent Commission
As you prepare to list your land for sale, ask if other real estate agents in your area are accepting a buyer’s agent commission. This will allow them to bring their own clients to the table and may increase your potential pool of buyers.
To maximize your chances of selling, prepare a comparative market analysis to show prospective buyers how your land is priced in relation to similar properties in the area. Additionally, ensure that all the necessary documentation is in order such as a deed and copies of recent property taxes. Lastly, consider offering owner financing to attract interested buyers and avoid a lengthy loan approval process at the bank.