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WHY PEOPLE WANT TO SELL LAND FAST

You will often hear that land is the best investment, which is absolutely true…. That is until it isn’t.  The complete truth is that it a great investment, but there are a whole range of circumstances when it makes sense to sell land fast.  

When does it make sense to sell your land?

LIFE PLANS HAVE CHANGED

Maybe you bought some land because you dreamed of building a vacation cottage or retiring away from the city, but those dreams are no longer a reality.  It doesn’t make sense to keep paying property taxes on something that will no longer live up to its intended purpose.  Maybe after a divorce, there are painful feelings associated with the land. Just because it isn’t taking up space in your house, doesn’t mean you shouldn’t declutter your life by ridding yourself of this unwanted asset.   

FINANCIAL SITUATION HAS CHANGED

Unexpected expenses can arise at any time, which can be tough if you are strapped for cash.  A lot of people still haven’t recovered from the financial collapse of 2008.  No matter where your land is, you are paying property taxes on it, which adds to your financial burden.  Instead of taking a loan and increasing your debt, why not kill two birds with one stone?  Reduce your bills by eliminating a tax expense and get cash for todays expenses by selling your land.

SETTLE AN ESTATE

The loss of a loved one is always tough, but it can be made tougher for all involved if settling the estate becomes a long and drawn out process.  Settlement of estates can often be held up over the distribution or sale of assets like land, which can be difficult to sell as explained in this article.  A group decision to sell your land quickly can help everyone get their share of the estate faster and allow them to move on with their lives.  

THE GOVERNMENT IS GOING TO FORECLOSE

You are behind on taxes and you have received a notice that the government is going to foreclose on your property for back taxes.  You have a few options 1) Pay the Taxes 2) Lose the land to the government 3) Sell you land.  If the first choice isn’t an option you are left with getting nothing for your land, or getting something from your land.  To me this is an easy choice! Sell your land!

Okay, I want to sell my land fast.

The good news is we help you SELL LAND FAST because WE BUY LAND!  Just fill out as much of this land assessment as you can and we will contact you with a cash offer for your land.  We will cover back taxes, closing costs, and even send a representative to you to complete the paperwork.  In just a couple of weeks you can get the land out of your life and cold hard cash in your hand. 

Simply put, there is no faster way to sell land fast!

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Don’t be Stupid…A common vacant land owner mistake

Vacant land owners are particularly susceptible to the sunk cost fallacy, particularly if you bought the land when the market was high or if you have owned the land for a really long time.  This fallacy might be costing you a lot of money.

What is a sunk cost?

Sunk costs are expenses that have already been paid.  These are costs that cannot be readily recovered.

So how does the sunk cost fallacy work?

An example of the sunk cost fallacy may go something like this, “I paid $15K for this rural land that is now worth $2K I need to keep the property until it is worth $15K again, otherwise I will have lost that $13K.”

This page does a good job of explaining the Sunk Cost Fallacy.

The fact of the matter is that $13K is gone and you still have to pay property taxes. If you fall prey to the fallacy, you continue to spend money (taxes) with no guarantee that you will be able to recoup the $13K.  Plus the odds of that property appreciating enough to cover your taxes and investment are very, very, low. The smart thing to do would to cut your losses quickly so you can stop throwing good money after bad in hopes of recouping what you have already invested.

Okay, this land is a poor investment, but I am stuck with it until I can sell it right?

Selling your land can be harder than you might think, read our post here.

The good news is that Iloveland.net can help! We pay cash for land that is no longer wanted and can close very fast. We give you an opportunity to cut your losses quickly and with no additional expense.

WE SAVE YOU REALTOR FEES!

WE SAVE YOU TIME!

WE SAVE YOU CLOSING COSTS!

There is no faster way to get out from under unwanted land.  We will help you free up your money.

Simply fill out a free land assessment survey and we will email you an offer.

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Top 5 reasons selling vacant land will be harder than you think

Selling vacant land isn’t like selling a house, it is nowhere as easy.  There is a much smaller customer pool for raw vacant land than there is for homes and this is bad news for you as the seller.    

Here are the Top 5 reasons selling land will be harder than you think

1)      Realtors charge 10% of the purchase price

Realtors know that selling raw land is hard to do, that is why they charge you 10% to do it.  Land doesn’t just sell itself like a home does, you aren’t going to do an open house for land.  Realtors don’t want to drive all the way out to the boonies to show a piece of land.  Remember, on top of Realtors’ fees, you also have closing costs to pay.  Unless your land has really appreciated, you will be losing time and money to the realtor.

2)      Land is difficult to appraise

When an appraiser tries to determine how much a house is worth, she looks at what similar properties have sold for recently.  This is very difficult to do with rural land, because often there aren’t that many sales to go off of.  What few sales have occurred might be for land that was very different from the land you are selling, which also makes it difficult for you to determine a fair and reasonable price.  

3)      Banks won’t lend on raw land

Banks only want to lend against property that will ensure they get their money’s worth if they have to foreclose.  Banks depend on appraisers to tell them what land is worth.  Since the appraisers have to made educated guesses, this makes the banks nervous and reluctant to lend money to purchase vacant land.  The result is that you as the seller are limited to cash buyers, which can be difficult to find in rural areas.  

4)      Land requires investment

Most buyers don’t realize the investment it takes to make raw land useable until they really start to look.  When buying vacant land, buyers don’t realize they need to factor in the cost of running utilities, drilling for a well, burying a septic system, etc.  These costs easily scare off those people with a little bit of cash to spend on land.

5)      Taxes

You have vacant land that you no longer want and want to sell it.  For the 4 reasons above, it is going to take a long time to find the right buyers, maybe even years.  Say your 3 years behind on taxes, that isn’t time that you have, the county will foreclose.  Even if you aren’t behind on taxes, that whole time it takes to sell, you are going to continue to pay taxes on something you don’t want or need anymore. 

Iloveland.net provides an alternative to selling your land through a realtor.  We will pay you CASH fast for your unwanted land. 

In exchange for selling to Iloveland.net below the market rate:

YOU DON’T PAY REALTOR’S FEES

YOU DON’T PAY CLOSING COSTS

YOU DON’T WASTE ANYMORE TIME

YOU STOP PAYING TAXES

YOU GET CASH IN HAND SUPER FAST

Just complete our free land assessment here and you will get an offer sent right to your inbox.  You don’t have to travel the county where your land is to complete this deal.  We make it super easy and will even send someone to YOU with a check to complete this transaction quickly.