Selling Your Land during Difficult Times

Selling a piece of land is challenging and even more so when done during difficult times. When you are trying to sell your land, it is very likely that you are facing a financial problem. Many property owners tried the FSBO route because they believe they will spend a smaller amount of money and get more from the sale. This is true because they can save a considerable amount by not having to pay sales commissions to agents.
However, FSBO is not at all times the best choice. In today’s economy where competition is tough, property owners need to be more aggressive. Here are several reasons why FSBO is not the best option.
• By going the FSBO route, you are competing against more veteran agents. Some property owners opt to hire an agent because they know the complexity of the selling process and their lack of experience will not result in a smooth and successful sale.
• Your potential buyers are limited. The most that you can do is put up a ‘for sale’ sign in your yard and list your property in the local listings and newspapers while agents have a network of real estate professionals that can refer them to buyers and investors. A greater number of buyers mean a greater chance of a successful sale.
• You will face a complex process of preparing the before and after sales documents. You will probably need help from a lawyer, a title company and other professionals. As a result, you will end up spending more money paying their service fees.
 It is tough to sell a property during economic crisis that is why you need all the help that you can get. If you need to sell your land quickly without spending money, sell it to a private property investor such as Lucas Properties LLC. Lucas Properties aims to provide assistance to property owners who needed a quick and hassle-free sale. They will buy your property with cash and you need not worry about the after sales papers.

Cost-Effective Way of Selling Your Land

In the real estate world, latest reports show that buying a piece of land is up to 70% higher compared to the last 10 years. This situation affects both buyers and sellers alike. To buyers, this means it is more difficult to acquire a property without proper financial help. To sellers, this means it is more difficult to sell a property without reducing the cost. A number of vendors are therefore looking for alternatives to traditional ways of selling.
Agents’ or brokers’ fee remains the biggest factor of the increase in cost. The costs for selling a property include stamp duty, survey fees, removal costs, mortgage arrangement, agent fees and marketing. Agent fees take the biggest portion followed by marketing depending on how the vendors market his land. With the cost associated in completing what you considered as a close deal, the task of finding a serious buyer becomes more challenging.
It is no surprise that vendors have looked for alternative ways of marketing their property. As a land owner, you can opt to sell your property yourself and use the listing websites. In today’s technology, the Internet is obviously the best place for buyers to find a land to buy. To buyers, searching the internet is much more convenient than looking for properties by foot as it saves time and money. Land owners can take advantage of the situation.
Take photos of your property. The more photos – the better. If you can capture the buyers’ attention with vivid picture of your property then you have more chance of selling your land. Don’t forget the description. Tell buyers about your land and no details should be left untold. When you put your property in free listings, you have to know that you are joining hundreds of others who are just like you. So it is imperative that your property has left an impression to the buyer before he clicks on the next listing.
Another cost-effective way of selling your land is to sell it to a private land investor. This is better than putting your property in free listings and waiting for a buyer to come. Lucas Properties LLC is a private property investor who buys any types of properties with cash. They are not realtors so there will be no commissions and absolutely no fees. Contact Lucas Properties for a speedy and hassle-free sale.

Why Do Sellers Turn to Auction?

After trying to sell their land traditionally on the Multiple Listing Service without success, owners turn to auction. Auction is a very efficient way to sell a property knowing that the buying public is aware that the owner is committed to a direct and immediate sale. Land owners prefer to sell their property in an auction because of the advantages it presents.

The publicity or marketing advantage that an auction has is one of the biggest attractions. Land owners who want to sell the property quickly can directly meet the eager buyers. They can deliver the property details easily and convince buyers to close the deal. In an auction, the land owner is protected by the reserve price. The owner and the auctioneer set the reserve price after assessing the potential buyers’ bidding strength and the property’s market value. The buying public should bid no less than the reserve price and in accordance with the terms and conditions set by the owner or vendor.

Properties being sold at an auction have an unconditional contract which means the bid winner should proceed with the settlement on the agreed date. The seller does not have to wait for the buyer to obtain financing from the bank. Buyers from an auction are ready and willing to buy. They are also pre-qualified which means before they can participate in an auction they are required to deposit a certain amount or certified cashier’s check according to the NAA (National Auctioneers Association).

The auction process typically takes 4-6 weeks. It involves the property being held by your chosen auctioneer within the given time frame wherein the auctioneer will market the property and find potential buyers. It is clear that placing the property in an auction has its advantages but what if you don’t have 4-6 weeks? What if you need to sell your property as quickly as possible? Fortunately, you have another option. You can sell your land to a private land investor like Lucas Properties LLC. With Lucas Properties, you don’t have to wait.