Consider all offers. An offer can be accepted, rejected or countered. You choose how to respond but it's important to remain focused on your bottom line. Don't take any offers personal. Buyers generally are looking out for their best interest; you need to look out for yours. As the seller, you may decide not to counter if you think that the buyer is not serious enough to continue negotiations.
When you’re selling land, you might have a potential buyer base in your backyard. It’d be peculiar for one homeowner to buy their neighbor’s home, but it’s not so weird for a neighboring farm or another nearby landowner to consider buying the property that’s just next door, so to speak. It could be your neighbors have been looking to expand their farm for some time now. You selling your land provides a mutually beneficial opportunity.
Hi Brandy, thanks for reaching out! Most of the deals I close in-house are vacant land, so there isn’t much work involved with contractors or improvements. If I were you, I would probably bring this kind of deal to a title company or closing attorney, simply because they’ll be able to handle the moving pieces a lot better than you can on your own (and the cost should be reasonably low – low enough to justify the value they’ll be bringing to the table).
At the showing, make sure valuables and other confidential items are put away so the potential buyers are free to walk around. Try and keep the number of people in the house to a minimum. Give them some time and space to look around on their own, but be available for questions. Gather receipts for heating costs, taxes, past repairs, or renovations; buyers interested in the house will want to know these details.
Make no mistake, though: Working without an agent requires a huge investment of time, knowhow, and effort. You need a wide range of skills, from home staging to salesmanship to negotiating. And you need to be able to completely divorce yourself from the emotions that can arise when a buyer takes a dig at your curb appeal or lowballs the offer on the beloved home where you raised your family.
Copyright © 2018 Leaf Group Ltd. Use of this website constitutes acceptance of the LEGALBEAGLE.COM Terms of Use and Privacy Policy. The material appearing on LEGALBEAGLE.COM is for informational and educational use only. It should not be used as a substitute for professional legal advice. LEGALBEAGLE.COM does not endorse any of the products or services that are advertised on the website.
With this in mind, I spent several months putting together a full-blown course that explains how this process works from start-to-finish. The course is designed specifically for people working in the land investing business, and it comes with dozens of video tutorials and document templates that give an in-depth explanation of each step along the way.

I sold a house in Illinois with assistance of an attorney four years ago. The attorney instructed the buyer to record the deed during the closing. The buyer has never done so. I still receive the tax bills that I pass on to buyer with requests that he record the deed. I took all documentation of the sale to the county recorder but was informed that only the buyer could record the deed. Any advice?

I have this document available for members of the REtipster Club to download for free, but it’s not something you can get here on the blog (because it’s pretty specific to land transactions, and I wouldn’t want people trying to use it for selling houses or other types of real estate, because it’s not really intended for that). Does that make sense?

Hi Brandy, thanks for reaching out! Most of the deals I close in-house are vacant land, so there isn’t much work involved with contractors or improvements. If I were you, I would probably bring this kind of deal to a title company or closing attorney, simply because they’ll be able to handle the moving pieces a lot better than you can on your own (and the cost should be reasonably low – low enough to justify the value they’ll be bringing to the table).
When we are buying land for our personal accounts, we always try to negotiate immediate possession for “purposes of making improvements.” This catch-all phrase gives us the opportunity to get a head start on simple improvements such as rotor mowing and clearing brush. You must be able to get the Prospects on the property before they can make an informed decision to buy. Often the prime spots which would normally “close the deal” are grown up in briars and brush. In many husband and wife instances, only one partner wants to move out in the country. The husband may be trying harder than we are to sell his wife on rural living, but if she can’t see the creeks, views, and big trees, then neither he nor we will be successful.
Part of the reason for a title company is not only to help facilitate the closing, but also to make sure everything is prepared properly, and (perhaps most importantly) to be a mediator who can handle the documentation and transfer of funds (making sure both parties do everything completely, and that you actually get paid). If there’s no title company involved with this closing, I would be sure your dad and the mortgage company get paid either before or at the same time your dad is signing his documents, to ensure that everything is completed, and you/he actually gets paid.
Equally, if you are thinking of buying a particular property, you don’t have to wait for a property to go on the market or appear in the real estate section of the newspaper in order to make an offer to purchase it.  There is nothing stopping you from approaching the owner directly and asking if they are prepared to sell their property if the price is right.
Access: While few in number, there are still some properties that don’t have legal access – that is, a deeded access-easement, or frontage on a public road.  This is what is known as “landlocked” property, and it is of considerably less value.  If you see an extremely low-priced piece of land for sale, it may be a bargain, or it may just not have legal access.  Curing this can be fairly simple, but don’t count on it.  If it were an easy matter, it would likely already have been fixed.  In most cases, legal access will require a deed from the neighbor whose land you’re crossing, and folks tend not to like to sign deeds unless they get something of significant value in return.
It depends on a number of factors, are you trying to find cash buyers for your land, what is your time frame to sell the land, and are you trying to get full market value for the property, and how much work do you want to do to sell it? Depending on your answer to those questions the method by which you decide to list and market the property is going to be different.
×