The Pros and Cons of Selling Your Land For Quick Cash

Once you have made the decision of selling your land, one of the most straightforward methods of finding a buyer is through land companies. Land companies like Land Boss can give you a cash offer for your real estate property in as fast as one or two weeks! In almost all kinds of scenarios, selling directly to land companies will be able to give you the most advantages compared with selling through real estate agents or doing the sale by yourself.

If you still haven’t made the decision on whether or not you should sell your land for quick cash to land companies, we have collected a number of pros and cons that you can check out to see if this method is going to give you the best outcome in selling your real estate property.

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The Pros of Selling Your Land for Quick Cash

Not to sound like a broken record, but there are way more advantages that you can get if you decide to sell your land through land companies. We will run through some of the most common ones.

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Faster Closing of Your Sale

Here is a list of the average time that you will have to spend if you decide to sell your land through realtors or by yourself in all the states in the United States. In the best-case scenario, you will be able to find a buyer within a couple of months. On the other end of the spectrum, it can take years before you sit down across a table with your buyer.

Selling land is absolutely hard, no matter where you are in the country. Compared with the market for houses, raw land will appeal less to buyers due to the fact that buyers will have to exert tons of effort and money into making vacant land their new home.

By directly selling to land companies, you will eliminate all the time and effort needed to look for a potential buyer. The process is very easy and you will receive a cash offer for your property within a week. In two weeks' time, your property will be in the hands of its new owners: the land company.

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Less Effort on Your Part as Land Owner

Longer time means that you will be spending way more resources trying to sell your property if you sell via real estate agents or by yourself. Selling to land companies will eliminate this problem and it will also eliminate all the other steps that you will need to do to find a potential buyer.

If you sell through real estate agents, the first thing you have to take care of is to look for a realtor who already had experience in selling properties similar to yours. Keep in mind that most real estate agents had experience in selling houses, but not all of them have experienced selling raw land. That should be your primary consideration or you will be wasting a lot of time and money in the process.

Selling by yourself is almost an identical story but could be a lot worse depending on other factors. For one, selling by yourself will require you to prepare the land by yourself, do all the necessary marketing, respond to all inquiries, and prepare the documents once you finally find a buyer. All those steps will need a lot of time to do and will require you to spend a lot of money as well.

Compare this if you decide to sell directly to a land company. Most of the time, you will only be required to fill in a form and once your land is accepted for purchase, you will be asked to sign a few documents and you will have your cash offer in as fast as one to two weeks.

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You Will Get Access to Fast Cash

Now, this is something that is very obvious: land companies = fast cash.

If you badly need cash and you no longer have future plans for your land, selling to land companies is your best option. You will be able to get cash in weeks, something that only land companies can offer you. This probably is the biggest advantage that you will have if you sell to land companies.

However, most land companies will not be able to price your property competitively. More often than not, they will buy your land at slightly lower than the market value. This is a reality that you must be prepared to accept if you decide to go this route. But considering the alternative and the amount of time and effort that you will spend if you will go to realtors or sell by yourself, this might be a worthy option, especially if you need access to cash, fast.

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Save on Property Maintenance

If your vacant land is just sitting on the outskirts of town and is already covered in weeds and wild plants, chances are you will have to spend money to have it maintained. If you have already established that you will no longer have a need for your property, there is no point in keeping it and spending money on taxes and maintenance. You can be better off selling the land and investing your money somewhere else.

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The Cons of Selling Your Land for Quick Cash

Now that we have laid out all the positives, let’s take a look at some of the disadvantages that you will possibly experience if you sell your land for quick cash to land companies.

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Dodgy Companies

In all types of transactions, there will be people who will try to take advantage of you and mislead you into a great deal only to find out that they are only trying to scam you. Many land companies promise to buy your property, but you will have to be careful in dealing with them. If you can, be sure to check the company's reviews and find any source of information that will establish their credibility. Also, do not be misled by too-good-to-be-true promises. Especially if you are desperate in selling your property in need of cash, this is more reason that you will have to be careful. You may want to check this list from Kris Lindahl Real Estate for the most common types of scams revolving around the real estate market. Some of these might not be applicable to land sellers but this will give you an idea of the things that you should keep an eye out for.

There are land companies who will promise to buy your property only to make you spend time waiting and eventually leave you hanging. The rule of thumb is that once a deal is too good to be true, then it probably is. Always take caution, especially when dealing with people online, and save yourself from future problems.

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Lower Proceeds for Your Property

We have been establishing this since we started writing blogs about selling raw land to land companies. This is a reality that will be very hard to prevent in the real estate market especially when land companies are involved.

The main reason that land companies buy land at price lower than market value is that selling raw land is extremely hard. By buying at a lower than the market price, land companies will be able to have a bigger wiggle room to work with, especially since they will be spending a lot of resources trying to find a buyer. The process can take years and land companies will spend a lot of money, especially in marketing to sell the land. This explains why buying land at lower than market value is not only necessary but the only feasible way to do business in this specific niche of the real estate industry.

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Sell Your Land for Quick Cash to Land Boss

We hope that this article helped you decide if selling to land companies is the next step that you should take in selling your property.

If you are ready to sell your land, you may send us a message and we will get back to you with an offer within the next few days.

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