Selling land online is actually pretty easy and 100% safe…if you do it the right way. It all comes down to how you ‘close’ the transaction. Whether you meet your buyer in-person or online, stay protected and close the right way.
Reasons Why to Sell Land Online…
- Attract Buyers from Anywhere – not just folks who happen to see your For Sale sign
- Sell Faster – the more people who know about your land for sale the faster it can sell
- Keep More of the Proceeds from the Sale – real estate agents typically take 10% of the sales price as their commission
There are Two Ways to Sell Your Land Online…
1. Sell Your Vacant Land to a ‘We Buy Land’ Online Company
There are hundreds of ‘we buy land’ companies throughout the US.
These companies are primarily mom-and-pop real estate investment companies that specialize in buying and selling vacant land.
The major benefit for selling your vacant land to a ‘we buy land’ company is that the company will do all the work for you.
These companies can make the transaction run smoothly.
And, you don’t need to take photos, put up a for sale sign, field calls from prospective buyers, etc.
Plus, they can buy the property quickly.
When you sell your land to an investor you…
- Don’t need to take photos and write ads for your vacant land
- Don’t need to answer calls from prospective buyers
- Just need to sign a few documents and get your check
- Can sell your land fast – usually within two to three weeks
- Won’t get top dollar
2. Market and Sell Your Vacant Land Yourself
We’re talking about submitting your property’s information on real estate websites like Zillow.com. Here’s an awesome list of free websites to where you can advertise your property.
The big plus for selling your land on your own is that you’ll likely sell for a higher price.
But…do you have the time and energy to sell your land on your own?
Are you familiar with the process of a real estate transaction?
Do you have quality photographs of your vacant land?
Are you ready to answer (hopefully) dozens of calls and emails from prospective buyers?
Do you know the zoning and restrictions of the property?
When you sell your land yourself you’ll…
- Likely sell for a higher price (compared to selling to an investor)
- Need to take photos, write ads, and answer calls from prospective buyers
- Need to know the basics of completing a real estate transaction
The question is – do you want to spend the time and energy to make a few more dollars in selling your vacant land?
When you think about it…’selling land online’ really only means you have found a buyer online. The real question is how to complete the real estate transaction with someone you won’t meet in-person.
In real estate lingo the completion of a real estate transaction is called a ‘closing.’
So, how can we successfully and safely ‘close’ without meeting our buyer in-person?
In its most basic form a closing consists of two things…
- The seller provides a deed
- The buyer provides the money
A deed is a document – typically just a page or two – that states you are selling a particular piece of property.
For the deed to become a legitimate legal document you must…
- Sign the deed in the presence of a notary
- Have the deed recorded in the official record
Now for the money part…
Protect yourself from getting scammed and hire a middleman to handle the closing.
This middleman will collect the money from the buyer before you sign the deed.
You can confirm that the money is in place before signing over your property.
Then, after you have confirmed the money is in place, you can sign the deed and send to your middleman.
The middleman will then provide the deed to the buyer.
Protect yourself from getting scammed and hire a middleman to handle the closing.
Close with a Title Company or Attorney
Most real estate transactions are handled by some sort of middleman. Each state has it’s own laws on what type of entity can be this middleman.
Some states require real estate attorneys while other states allow for a title company.
Title companies and attorneys generally do the same thing.
And, generally, title companies will be more affordable than attorneys.
And, you could always hire a real estate attorney instead of a title company.
The title company will collect the money from the buyer upfront.
Then collect the signed and notarized deed from the seller.
These title companies are legally obligated to make sure the seller gets their proceeds.
That’s it! You can safely sell your land online by hiring a title company or attorney to act as the middleman for your transaction.
But…title companies and attorneys can cost thousands of dollars to hire.
- Title Companies and Attorneys are legally obligated to make sure you get your money
- They can properly prepare the deed and other legal documents for you to sign
- They typically cost $1,000 or more
- Highly recommended if you sell to an investor or you sell by yourself
What if you are selling your land for say….$1,000?
It’d be silly to hire a title company, pay them a thousand dollars and you collect nothing.
Close with Cash-in-hand
For smaller size deals, the notary will act as the middleman.
The buyer will send a cashier’s check (funds are already provided) to the notary.
The notary will physically meet the seller.
Sign the deed, notarized and then physically hand the cashier’s check to the seller.
- A notary can act as a middleman in your closing
- The notary will meet you in person and physically hand you a cashier’s check
- Only recommended if you are selling to an experienced investor
Are you looking to sell your land online?
Fill out our form and we’ll send your property’s information to our network of 12 professional, experienced land investors. You’ll get cash offers sent right to you email inbox!