Many people want to sell land in Tennessee for a variety of reasons. Some bought the property with a long term strategy in mind, but plans changed and they need to cash out, while others inherited the land and want to liquidate it as quickly as possible. Regardless of the reason, it’s important to understand how the process works so that you can make the best decision for your circumstances.
Selling Vacant Land: The Quick Process
If you’re looking to sell vacant Sell land in Tennessee, you can choose to list the property with a real estate agent or go the For Sale By Owner route. Both options have pros and cons, but listing the land with a realtor can speed up the process as you’ll be working with an experienced professional who knows how to market properties and handle negotiations. However, this method can also cost you a percentage of the final sale price in commissions.
To sell land on your own, you’ll need to take photos of the property, write a description and post it to online real estate platforms or local classified sites. You’ll also need to conduct market research, promote the property, respond to inquiries and show the property to potential buyers. In some cases, the process can be time consuming and frustrating. FSBO sellers can end up with lowball offers from unqualified buyers or struggle to find a buyer who is willing to pay full market value for their property.
Selling Land to Investors: The Easy Process
In most cases, the best way to sell land in Tennessee is to work with a real estate investor who specializes in buying property directly from owners. They have the cash on hand to make quick purchases and can close deals more quickly than traditional buyers. Typically, you’ll meet with an investor who will assess your property’s value and make a cash offer. If you accept the offer, they’ll proceed with the title search and closing procedures.
Real estate investors who specialize in buying land have extensive knowledge of the local market and zoning regulations. This makes them able to accurately evaluate the potential of each piece of land they purchase, which helps them buy properties at fair prices. Additionally, they can avoid the delays caused by financing issues and other contingencies that can stall or derail deals.
Another benefit of working with an investor is that they can eliminate or reduce the amount of commissions you’ll need to pay. Typically, real estate agents charge between 2.35% and 3.08% of the final sale price for their services. In contrast, if you sell to an investor, you’ll only need to cover the costs associated with the title search and closing fees, which will typically be much lower. By avoiding these fees, you’ll be able to save on transaction expenses and keep more of the proceeds from your sale.