Do you have questions about how to sell your vacant land?
Great! Here are answers to common questions.
If you have additional questions that aren’t listed here, you can send us a message using this form, give us a call: 573-568-8166, or email us at Bob@ParcelPayday.com
Q: I received your offer in the mail, and I want to accept it. What next?
A: Great news! If you’d like to accept our offer, you can sign the Purchase Agreement we sent you in the mail, and either scan/email, or mail it back to us. You can also call or email us to let us know.
Once we receive the signed Purchase Agreement back from you, we’ll open Escrow with a reputable title company in the area where the property is located. We close all of our transactions at licensed, insured Title Companies to provide both the seller (you) and the buyer (us) protection and peace of mind.
They’ll be in touch with you to let you know what they need from you, and to confirm the closing timeline. We aim to close all our transactions in 1-2 weeks.
A few days before closing is scheduled, you will receive a Settlement Statement from the Title Company, as well as the Closing Documents. If you’re not in the local area and can’t come to the Title company to close, no problem. Simply take those documents to a local Notary to sign them in person. You can then overnight/FedEx/UPS them to the Title Company that’s doing the closing.
Once they receive all of the signed closing documents, the transaction will close and the Title Company will send you the purchase funds. They can either send them by Wire Transfer (which is quickest) or by certified check. Whatever you prefer.
Q: I received a letter from you about buying my property, and I’m not interested in selling.
A: No worries! If you received a letter from us and you’re not interested in selling your land, you can feel free to ignore the letter. There’s no need to contact us to let us know.
Q: If I sell to you, will I have to travel to the county where the property is located for closing?
A: No, you won’t.
When selling a piece of property, you can visit a title company or notary that is local to you (wherever you might be), and you can complete the closing documents with them and overnight/UPS/FedEx them to the local title company that we are using to close at.
The entire transaction can be completed by mail, e-mail, and phone. When you return sales agreement, we will open escrow with our title company and do all the necessary legal work to complete the transaction. After the title research is completed, you will receive a package of final documents to sign along with simple instructions. We strive to make the sales process as quick and convenient as possible for our clients.
Q: Why do you want to buy my land?
A: We are investors who are always looking to purchase raw, vacant land. We buy in a variety of states and counties, and at various acreages.
We either develop a property, or hold onto it and sell at some point in the future. Our strategy depends on the local market, the potential vs. current value of the land, and whether our team has the ability to undertake a development project from a time/cost standpoint at any given time.
Q: Are there any fees or commissions to work with you? Any “hidden costs”?
A: There are NO fees or commissions when you sell your land with us. The number you see on your offer letter is the same number that will be on your check at closing.
This is one thing that differentiates us from the traditional method of selling your land (with a Realtor).
Our buying process is simple: We’ll make you an offer, and if it’s a fit then we’ll buy your land. We’ll also pay for your side of the closing costs, and often a reasonable amount of back-taxes, too!).
No hassle. No fees. Easy, simple, and stress-free.
Q: How are you different from a real estate agent?
A: Real estate agents list other people’s properties, and hope that they can find someone who wants to buy it. They then take a significant percentage of the sale price as their commission for finding a buyer.
In most markets, it takes 6-12 months for rural vacant land that’s listed with an agent to sell. Sometimes it takes longer.
Agents’ commissions range from 6-10% of the sale price. So if you list a $100,000 property with them, you’ll pay between $6,000 – $10,000 in commissions to an agent… In addition to closing costs, and other fees.
Agents provide a great service for those that aren’t in a rush to sell, and who don’t mind giving up some of that sale price to pay for the commissions.
That’s where we’re different: We’re not agents… We’re buyers (like the ones that agents would be marketing to if they got a listing).
We identify properties in locations and size ranges that we want to acquire, and either reach out to owners directly, or accept offers from sellers who come directly to us with land they want to sell.
We pay cash (with no financing contingency), close quickly (almost always under 2 weeks), and also cover YOUR closing costs and any other fees associated with the transaction.
We’re often even willing to pay a reasonable amount of back taxes, if there are any.
Q: Is there any obligation to sell my land when I submit my info on your website?
A: No – There is absolutely zero obligation for you.
If you submit your property info on our website, we’ll do some research on the local market, and the property, and might ask to set up a call with you to find out a bit more.
Once we have all the information we need to make a decision, we’ll reach out to let you know if we’d like to buy your land, and how much we can pay for it. Usually this takes us about 24-48 hours.
From there, it’s 100% your decision on whether or not you’d like to accept our offer… and if you don’t think it’s a fit for you then we can part ways on good terms.
And, you can always hold on to our offer, and revisit it down the line if anything changes for you.
Q: I owe back-taxes on my property, or it has liens on it. Will you still buy it?
A: Yes, we will. We are often willing to pay a reasonable amount of back-taxes when we acquire a new property.
When you submit your property on our website, please specify the total back taxes amount due in the property information form, and we will factor it in our proposal to you.
Please keep an eye on those dates the County notifies you about, and contact us immediately to discuss your options.
If your property is already scheduled to be sold in your county’s Delinquent Tax Auction, please make note of that as well. This may mean we have less time to research the property and complete due diligence so that we close before the tax sale
Q: Why should I sell my land to you – Why don’t I list it myself?
A: You’re more than welcome to – our offers are non-binding and you’re under no obligation to sell to us.
However, feel free to hold on to that letter, or our contact information, in case you change your mind down the line and want to revisit our offer.