How fast can you really expect to get cash for your vacant land?
Let’s walk through three example timelines ‘from contract to cash’…
- Same day – If you’re selling a lower priced property…under $3,000 for example
- 14-30 days – If you’re working with an experienced buyer like a professional land investor
- 30+ days – If you’re selling with a real estate agent and the buyer needs financing
How to Get Cash the Same Day You Agree to Sell Your Land
It’s perfectly legal for you to sell your vacant land to a buyer without any outside help from an attorney, title company or real estate agent.
You, the seller, and the buyer could meet at property, sign some paperwork, exchange the money and be done with it.
However…this sort of ‘cash on delivery’ real estate transaction carries a lot of risk for the buyer.
- What if the seller isn’t the true and rightful owner of the property?
- What if there’s a mortgage or lien against the property?
- What if there’s an error on the deed the seller signed?
That’s why getting cash for your vacant land on the same day you agree on a sales price can be tough.
The buyer doesn’t have enough time to verify every little detail about the property and the seller’s legal right to sell the property.
Because of this risk, these ‘cash for deed’ transactions tend to be for vacant land that’s purchased under $3,000.
Can you get cash for your vacant land without meeting the buyer in person?
Yes! A tactic used by professional land buyers is to hire a mobile notary.
A mobile notary will act on behalf of the buyer.
You sign the deed and the notary gives you a cashier’s check.
How to Get Cash in 14-30 Days of Agreeing to Sell Your Land
A fast and easy way to sell your vacant land is to work with an experienced land investor.
A land investor can get you cash for your vacant land much faster than working with a real estate agent.
Benefits of selling your land to an experience land investor…
- Can buy your vacant land site unseen
- Will not require a survey
- Can skip the bank and pay cash
All of these things help speed up the selling process and get you the proceeds from the sale quicker.
Typically, when selling vacant land to an experienced land investor, you can expect to receive the proceeds from the sale within two to four weeks of signing a Purchase Agreement.
Most of the time a land investor will require a title company or real estate attorney to perform a title search to verify your legal right to sell the property.
And it’s this middleman – the title company or attorney – that causes the 2-3 weeks delay between ‘we have a deal’ and ‘I have my money.’
Land investors buy land from sellers who are looking to sell their vacant land fast.
These sellers aren’t looking to sell their vacant land for top dollar.
But rather, don’t want to go through the hassle of getting their vacant ‘market ready.’
This would include taking appealing photos of the property and clearing the property of debris.
How Long Will it Take to Get Cash For Your Land if You Sell With a Real Estate Agent?
The traditional way of selling real estate involves hiring an agent to market the property for you.
Real estate agents aren’t always the best bet to sell land especially land that has a market value of under $50,000.
Another factor that slows down the ‘contract to cash’ timeline is the buyer’s ability to pay cash.
If your buyer needs traditional bank financing to buy your vacant land expect to…
- Wait to have the property surveyed – this can take several weeks in certain areas
- Wait to have the property appraised
- Wait to have the bank approve the loan
Typically, a bank will take 30+ days to process and approve a loan application for vacant land.
How Fast Can You Find a Buyer for Your Vacant Land?
But, first things first!
Before you can start the transaction to sell your land you need to find a buyer.
And, hey, since you’re already here…why not fill out our form and contact 12 experienced land buyers right now.