With Zillow.com reporting an average 19.3% increase in property values across Texas over the last year and elevated demand across the state only declining slightly in recent months, the current market presents a unique opportunity for property owners who want to sell land fast.
Selling land fast might seem challenging—the paperwork, the meetings, the hassle. Whether it’s divorce, foreclosure, relocation, or any of the situations millions of property owners encounter every day, there’s always a valid reason to sell land fast. Resourceful property owners know that a quick closing doesn’t have to come at the expense of a fair offer. These landowners have discovered the easiest way to sell land fast for the best value is a direct cash sale.
Thanks to the steady increase in property value, landowners might be surprised to learn that a cash offer from direct buyers could still be greater than the value of their property ten years ago, meaning easy profits and a quick land sale. Sellers can deal directly with land investors, not traditional realtors, and they don’t have to sell their property alone. Direct buyers will purchase vacant, raw, or undeveloped land in almost any condition.
Even when landowners need to sell land fast, they should still receive the best value for their property when compared to the speed of the sale that a direct buyer offers. On paper, a cash sale with direct buyers might not reflect the market value of a property, but landowners save on the cost of:
- Appraisal and surveys
- Closing fees
When sellers choose a cash offer over listing on the traditional market, they receive a quick closing with cash in hand—usually, no financing or involvement by the bank is required.
How do sellers know they’re receiving the best cash offer from direct land investors who promise to sell land fast? That starts with knowing the property’s value before approaching investment companies about a deal.
Use these 4 tips to estimate land value before receiving a cash offer from direct land buyers. With this information in mind, sellers can decide if the benefits of a cash land sale are right for them.
4 Tips: Sell Land Fast for the Best Cash Offer in Texas
1. Compare Recent Sales
When it comes to selling raw land, compare recent property sales of like quality in the area. This will help sellers get a feel for the typical cost of land most similar to their own. Keep in mind the varying local factors that might have an effect on property value, like location in a desired neighborhood or suburb.
For quick reference, consult free real estate maps provided by companies like Zillow and Trulia to get a quick gauge of approximate property value. While these serve as great resources for buyers in the real estate market, sellers can also use recent housing data and market values to determine the average cost of property in the area.
Map data can be filtered to include properties currently listed or recently sold, providing quick, free insights into virtually any market in the US. With this recent sales data, landowners can determine when a cash offer most closely reflects their property’s current value.
2. Determine Potential for the Land
There are many potential uses for raw land, and sellers should capitalize on their property’s strengths in order to receive the best cash offer. By showcasing the land’s capabilities, property owners can boost market value when it’s time to sell land fast.
Perhaps even more valuable, identifying the land’s potential can reveal buyer groups a seller might choose to target. Depending on the land’s best use, sellers can determine if they’ll attract residential, commercial, or agricultural buyers, just to name a few.
Caught up on local zoning laws? Research relevant codes to understand a lot’s full development potential.
3. Appraised vs. Assessed Value
Appraisal values can vary depending upon factors in the local real estate market. However, the assessed land value in Texas is a reliable property value and the amount to which landowners pay property taxes. While these values can differ vastly, a lower assessed value doesn’t always equate to a lower appraised value.
Appraisal vs. Assessment: Which One Matters to Sellers?
When comparing appraisal and assessment values, landowners might wonder which number matters more in the first place.
Appraisals are used to determine your property’s current market value; essentially, the money sellers can expect to receive in exchange for their vacant land. Assessments, on the other hand, are locally sanctioned evaluations of a property’s worth, typically used to determine property taxes.
If you’re a current landowner, you probably have a good idea of your property’s assessed value through annual property taxes. Therefore, current market value is important for landowners hoping to sell land fast for the best price—even with a cash offer! With an appraised value provided by a licensed appraiser, sellers can make an educated judgment between potential cash buyers.
For a comprehensive breakdown of appraisals and assessments, read this article from Rocket Mortgage.
4. Know the Demand
Before deciding to sell land fast with a direct buyer, complete a thorough analysis to accurately determine the property’s value, including anticipated market demand.
Due to its dense population and limited raw land supply, parcels closest to urban areas will always be higher in value and demand. Simply based on location, inner-city sellers can expect to receive more value when compared to the offerings of their suburban and rural competitors.
Because of ongoing expansion, however, sellers with properties on the outskirts of urban centers should consider long-term demand when deciding if it’s the right time to sell. What is in low demand this year could be prime real estate in less than a decade. First-hand knowledge of Texas’s market and upcoming development plans will allow sellers to decide if their property value has room to grow. Click here for more tips on how to estimate land value.
How We Help Sellers
No matter the reason a seller decides to part ways with their property, we’ll help make a deal for vacant land at the right value! Partnering with Harmony Land Holdings LLC makes it easier than ever to sell land fast and get the best value for your vacant property in Texas.
How We Help Buyers
Harmony Land Holdings LLC has an unrivaled property selection available in Texas and across the US! Develop a real estate investment plan today with help from our in-house team of experts. Already have something in mind? Harmony Land Holdings LLC can find the right property for any buyer or investor.
How to Sell Land Fast: Choose Harmony Land Holdings LLC
At Harmony Land Holdings LLC, we’re not the typical buyer that sellers are used to dealing with; we purchase land for long-term investment purposes. Choose Harmony Land Holdings LLC for a quick and easy land sale to take the work out of selling land quickly.