Are you considering selling your vacant land to one of those companies that buy land or ‘we buy land’ websites? Here’s what they are looking for…
As one of the largest networks of companies that buy land, the team here at SellTheLandNow.com has received thousands of submissions from people looking to sell their land. We’ve tracked which properties end up being bought by our network of land buyers. Here are the 5 things most companies that buy land are looking for…
1. Companies that Buy Land Say “Bigger the Better”
Companies that buy land tend to purchase low cost-per-acre properties. That is – the more acres for less amount of money – the better.
Based on data from the last few years our network of companies that buy land successfully bought properties that averaged 25 acres in size. The average cost-per-acre was around $8,000. To calculate the cost-per-acre of your vacant land property simply divide the asking price by the number of acres.
Vacant land properties that are 10 acres and larger tend to receive more cash offers than those that are smaller.
2. Companies that Buy Land Want Established Road Access
Most companies that buy land offer to buy your vacant land site unseen. These investors are comfortable buying vacant land without ever setting foot on the property. Companies that buy land use online resources to learn more about the property you want to sell remotely.
A rule of thumb that companies that buy land tend to follow is: “If you can’t see the property on Google Street View then we don’t buy it.”
Another way companies that buy land check for established road access is to use satellite imagery provided by Google or Bing Maps or county property websites. A vacant land property that’s easy to get to in a car or truck is more valuable than ‘land locked’ properties.
However, every company that buys land is different with a different set of buying criteria. It’s not a deal breaker if your vacant land property doesn’t have road access. There are companies that buy land that specialize in buying properties with limited or no road access.
Investors are willing to buy land without seeing it in person. It’s a plus if your land is visible on Google Street View.
3. Companies that Buy Land are Looking for Minimal Restrictions
Do you know the zoning for the vacant land property you are looking to sell? Zoning laws are rules set in place by local governments – typically city, town or county governments – that dictate what can and cannot be built on the land.
In addition to local government regulations a vacant land property may be subject to rules set in place by a subdivision, Property Owners Association or Home Owners Association. These types of rules are called deed restrictions.
Knowing the specifics on what’s someone can do with your vacant land property is important for companies that buy land. Can someone hunt on the land? Are farm animals allowed? Can a mobile home be placed on the property or only site-built homes?
Generally, the least amount of restrictions the better if you are looking to sell your vacant land property to a company that buys land.
Some companies that buy land only want to invest in land that allows for mobile homes.
4. Companies That Buy Land Prefer Something to Look At
Does your vacant land have views of mountains? Is there a river near by? If you were to walk on the property what would you see? Most companies that buy land will never see your property before they offer to buy it.
Promote any natural features on or around your vacant land.
5. Companies That Buy Land Don’t Want Improvements
Land buyers and other companies that buy land tend not to buy land that has some sort of improvement already on the property. Improvements like fences, home foundations, sheds or outbuildings may seem like they add value to a property. But, for companies that buy land, these improvements can be a burden.
Companies that buy land tend not to physically inspect improvements on the land before making a purchase. This means they don’t know if the improvement is in pristine condition or about to fall over. In fact, companies that buy land will devalue improvements as many will consider the cost of having the improvements removed.
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