It’s 100% safe and legal to sell land online.
Stay protected and easily sell your land to someone or a company that you have never met in-person by following these 3 tips…
- Write a Purchase Agreement with a 30-day close.
- Hire a Title Company or Real Estate Attorney to oversee the transaction.
- Check that funds are held in escrow before signing closing documents.
Selling land online on your own is a great alternative to hiring a realtor.
We’ve detailed a few reasons why not to hire a realtor to sell you vacant land in this article.
With the internet you’re able to reach many more potential buyers versus only dealing with a local buyer.
This means you can sell your vacant land quicker and possibly for a higher price.
Here are 3 tips to help protect you when you sell land online:
1. Consider the Closing Date when Agreeing to Sell Land Online
The start of a real estate transaction involves a Purchase Agreement.
This is a straight-forward contract that outlines the terms of the deal – price and time.
Be weary of buyers who ask for more than 30 days to purchase your vacant land.
The longer the time between signing a Purchase Agreement and committing to hand over a check gives more time for the buyer to back out.
All the while, you could have been working with another buyer who’s ready to purchase ASAP.
Consider offering a lower purchase price to the buyer in exchange for a faster sale time.
2. Have a Title Company or Real Estate Attorney Handle the Transaction
Nothing in life is guaranteed, right?
But, by hiring a title company or title agency (or in some states a real estate attorney), you the seller are protected.
The title company (or attorney) acts as a middleman between you, the seller, and the buyer.
The title company (or attorney) is responsible for collecting the money from the buyer before you sign over your vacant land.
Once the appropriate documents have been signed, the title company is legally obligated to get you the proceeds from the sale of your vacant land.
3. Check that Funds are Held in an Escrow Account Before Signing Closing Documents
Another piece of mind in using a title company or attorney to sell your land is the ability to pick up the phone and double check that a check is waiting for you once you sign all closing docs.
Selling your land to an out-of-state buyer or a company that buys land is easier than ever before thanks to the internet.
Gone are the days where sellers can only sell their land to someone local.
By insisting that a title company handles your sale of vacant land, you can comfortably sell land online.
Other things to consider when you sell land online…
Title Companies and Attorneys Charge a Fee for Their Services
Fees to have a title company or real estate attorney act as a middleman between you, the seller, and the buyer can range from a few hundred to a few thousand dollars.
Many times, a title company or attorney will require a portion of those fees to be paid upfront.
This pre-payment ensures that, if the deal doesn’t go through for any reason, the title company or attorney is not left unpaid for their services.
You can negotiate with your buyer so that the buyer is responsible for paying all of the title company’s or attorney’s fees.
So, if the buyer backs out for whatever reason, they are the ones covering the bill.
You Will Have to Sign Legal Documents In Front of a Notary
In order to complete a real estate transaction, the seller will need to sign a legal document known as a deed.
This deed will need to be signed in the presence of a notary who can verify the legitimacy of the document.
Notaries charge a fee for their services.
You can negotiate with your buyer to cover the costs of the notary.
Are your ready to sell your land online?
Click here and fill out our form. We’ll send your property’s information to 12 experienced land buyers. If these land buyers are interested in purchasing your property they will send you cash offers.
How to Build Trust with Online Buyers
Selling land online can feel daunting, especially when dealing with buyers you’ve never met. Building trust is essential to ensure a smooth and worry-free transaction. Start by providing clear, detailed, and accurate information about your property. Include recent, high-quality photos and comprehensive details about zoning, access, and property features. Transparency can help alleviate potential concerns buyers might have and expedite the sale.
Benefits of Working with Experienced Buyers
One of the significant advantages of selling land online is the ability to connect with professional land buyers and investors who specialize in purchasing vacant land. These buyers are well-versed in the nuances of the process and often have established procedures for handling remote transactions. Working with such buyers can save time and reduce the risks of dealing with inexperienced individuals. Platforms like SellTheLandNow.com streamline this process by connecting sellers with reputable buyers ready to make offers.
Understanding the Role of Escrow in Online Land Sales
Escrow services offer an additional layer of security for sellers and buyers during online transactions. By ensuring that funds are securely held until all closing requirements are met, escrow accounts protect both parties from fraud. A reputable title company or attorney will provide escrow services, giving you peace of mind that the buyer’s payment is ready before transferring ownership of your property.
Tips for Negotiating Fees with Buyers
When selling land online, it’s common to negotiate who will cover transaction fees like those for title services, escrow, or notaries. To streamline negotiations:
- Highlight the buyer’s benefits: Emphasize the convenience and security provided by using a title company or attorney.
- Offer shared responsibility: Propose splitting the fees evenly, especially if the buyer balks at covering all costs.
- Factor it into pricing: Adjust the asking price slightly to reflect fee-sharing agreements, ensuring that both parties feel they’re getting a fair deal.
Red Flags to Watch Out For
While most buyers are genuine, it’s wise to stay vigilant for potential scams when selling land online. Red flags include:
- Buyers unwilling to use a title company or attorney.
- Requests to bypass escrow or wire funds directly.
- Overly complicated terms that seem unnecessary for a straightforward transaction.
If anything feels off, pause the transaction and consult with your title company or attorney to avoid costly mistakes.
Harnessing Technology for Effective Marketing
When listing your land online, take advantage of tools like aerial photography and video tours to showcase your property. Highlight key features such as road access, nearby amenities, and scenic views. Including these elements can help your listing stand out and attract more competitive offers.
Streamline the Process with a Proactive Approach
By following the steps outlined in the article and leveraging these additional tips, you can make the process of selling your land online both safe and efficient. Ensure you’re well-prepared, from having your legal documents in order to negotiating with confidence. The right approach will not only protect your interests but also help you close the deal faster.
If you’re ready to explore offers from qualified buyers, take the first step today by submitting your property details to a trusted platform like SellTheLandNow.com.