There are many reasons why you would want to sell your property, and you have different options for selling. You could use a traditional real estate agent, you could try to sell your property by owner, or you could sell your property to a COLUMBIA investor.
5 Things You Should Know About Selling Land To a COLUMBIA Investor
Understanding the Buyer
Professional land buyers in COLUMBIA, SC typically close faster than traditional land buyers, and usually pay in full in cash. Traditional land purchases usually require qualifications from banks, mortgage underwriting time, and property inspection time and the buyer may not end up qualifying in the end. There are also normally no commissions paid to a buyer’s or seller’s agent which means thousands of dollars in savings.
The usual commission is 3% per side, so if you sell your land for $200,000, you would have to pay $12,000 in commissions alone! Professional land buyers also may not charge transaction fees; if they do, they are extremely low in comparison to the commission or closing costs you would have to pay otherwise. They also provide mail-away closings which is a wonderful thing for out of state owners.
When working with professional land buyers in COLUMBIA, SC, sellers typically experience a faster closing process compared to traditional buyers. This is because professional buyers usually offer cash payments, eliminating the need for lengthy bank qualifications, mortgage underwriting, or the potential for the buyer to be denied financing. The absence of these steps means that the deal can close more quickly, often within a few weeks.
Another key advantage is that there are generally no commissions to pay to real estate agents on either side of the transaction. In a traditional land sale, commissions for both the buyer’s and seller’s agents typically amount to around 3% per side. For example, if your property sells for $200,000, you would end up paying $12,000 just in commissions—money that could be saved by working with professional buyers.
Additionally, professional land buyers often have minimal or no transaction fees, which is a stark contrast to the closing costs associated with traditional sales. If fees are charged, they tend to be far lower than the commission or other closing costs you might otherwise encounter. Another convenience offered by these buyers is the option for mail-away closings, a particularly beneficial feature for out-of-state property owners, making the process even more streamlined and accessible.
No Preparation Necessary
Professional land buyers in SC will usually purchase lands as-is. As a seller, this means you do not have to worry about any upkeep before closing or any other additional expenses you were not planning on. There are some companies that do not require inspections which makes it a truly as-is transaction. Additionally, many of these professional buyers do not require property inspections, making the process even more hassle-free for sellers. In a traditional land sale, inspections can delay the process, uncover issues that could lead to renegotiations or demands for repairs, and create uncertainty around whether the deal will actually close. By purchasing the land without inspections, professional buyers streamline the transaction, giving sellers peace of mind that the sale will proceed smoothly and without the risk of unexpected expenses or complications.
Sell With Confidence
When you decide to use a professional land buyer in COLUMBIA, SC, you will not have to worry about going through a roller coaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your land. You don’t have to worry about driving out to your property for a showing.
You don’t have to worry about possibly running into a buyer’s agent or their clients or dealing with them asking you questions that you really shouldn’t answer anyway.
No-Risk
Selling to a professional land buyer is extremely straightforward. They will lay out every step of the process and usually have shortened, very clear contracts that are simple as-is purchase agreements. You will also have lessened exposure to legal risks. You won’t have to worry about the buyer finding something you didn’t know you didn’t disclose or something they don’t like about the land or the neighborhood.
Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. Professional land buyers already know the state of the property, and they are willing to take on that risk.
Land is Different
Selling land to an COLUMBIA investor is very different than if you were selling a commercial, multi-family, or single-family residential property mainly because there is no building. Land is a very simple property to deal with. Most COLUMBIA investors won’t even drive out to the property because all of the information they need is available online.
They may or may not have a survey completed to verify the property lines, and they will most likely prefer that no improvements have been made, such as fences or sheds. These properties are perfect for investors because they can build the property to fit whatever plans they have. Land transactions can be as quick as a few days when you sell directly to Intrepid Property Solutions! When dealing with land, investors may or may not request a survey to verify the boundaries, but they often prefer that the land remains unimproved. This means that fences, sheds, or other structures are usually unnecessary and even undesirable, as investors prefer a blank canvas that allows them to execute their own development plans. Since there are fewer obstacles, such as property inspections or repairs, selling the land directly to companies like Intrepid Property Solutions can often result in a fast transaction—sometimes closing in just a few days.