Help! I Need to Sell My Land in Minnesota Quickly

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Help! I Need to Sell My Land in Minnesota Quickly
By

Bart Waldon

Minnesota, the “Land of 10,000 Lakes,” is known for its natural beauty and abundance of lakes, forests, and scenic landscapes. If you own vacant land in Minnesota but need or want to sell it quickly, you have options even though the land sale process typically takes 1-2 years traditionally. This guide will provide key information and advice to help you sell your Minnesota land fast for fair cash offers without too much hassle.

Facts About the Minnesota Land Market

Before diving into the details of selling land quickly, it’s helpful to understand some key facts about the Minnesota real estate market when it comes to vacant land sales:

  • Minnesota has a volatile land market, making it hard to pinpoint exact property values upfront.
  • Approximately 200,000 vacant land parcels are for sale in MN at any given time.
  • Recent data shows a 9% increase in land sales in MN year-over-year. However, selling still takes patience on average.
  • Land companies that purchase property at discounted prices help fill a need - they take on the effort of marketing & negotiations.
  • Individual sellers should expect to put in significant time & effort to sell land at full market value on their own.

In Minnesota and elsewhere, economic factors beyond one's control can quickly change property valuations. But armed with the proper local area knowledge and sensible expectations when pricing and listing land, sellers can still succeed if the need to sell swiftly arises.

Top Reasons You Might Need to Sell Land Fast

Some of the common urgent reasons landowners want to sell their vacant land quickly in Minnesota or states include:

  • Relocation - New jobs, family needs uprooting people to other areas.
  • Major Life Event - Death, divorce or medical issues can spur a fast sale need.
  • Financial Issues - Job loss, debt obligations or expenses creating pressure.
  • Retirement & Downsizing - Letting go of underutilized assets & properties.
  • Burdensome Costs - Ongoing taxes, maintenance fees sinking savings.

Minnesota has had its share of hardships over the years impacting owners’ ability or need to retain land assets. Knowledgeable local firms create avenues to release equity or value from land by buying for cash when life happens.

What Price Can You Expect When in a Rush to Sell?

If needing to sell land in 30 days or less in Minnesota, it’s wise to plan for getting 70-80% of current market prices on average.

Why the typical 20-30% discount? Selling anything quickly introduces risk and unknowns for buyers leveraged to act fast. And the traditional route of listing land can take months or years for lots to move.

Rest assured, 50-60% of market value would signal an egregious low offer in most cases. Yet also don’t expect to easily net top dollar without legwork. The key is finding reputable cash buyers willing to make fair “as-is” offers at reasonable enough discounts where you still walk away satisfied.

Things to Avoid for Quick & Successful Land Sales

All real estate transactions come with lessons learned, but these easily avoided missteps can really upend fast land sales in Minnesota:

  • Overpricing - Emotional attachment to a property often pushes sellers to over-value land. But objective comps should set pricing.
  • DIY Attempts - Attempting a for-sale-by-owner listing without expertise usually frustrates quicker exit plans.
  • Limited Marketing - Not casting a wide buyer net through various channels leads to poor exposure and delays.
  • Refusing Access - Impeding buyers from accessing or surveying the land limits accurate offers.
  • Unrealistic Expectations - Assumptions of fast & easy sales at full market prices typically disappoint.
  • Rushing Offers - Sellers under duress often pressure buyers needlessly instead of allowing reasonable review periods.

Avoiding these mistakes takes patience and trusting the process. There are buyers ready to make fair cash offers in Minnesota. Follow tips herein to streamline deals.

Where to Find Cash Buyers for Land in Minnesota

Casting a wide net to connected buyers ensures you receive competing offers to select from in order to land suitable terms when needing to sell quickly. Useful avenues to tap include:

Land Listing Sites - Leading land sales sites like Land Watch help match motivated sellers to buyers constantly scanning for deals.

Local Land Buyers - Search for established land buying companies within 100 miles that have funds and ability to buy land anytime.

Real Estate Agents - Though sales happen slower going the MLS listing route, some agents work directly with cash land buyers too.

Online Auctions - Websites focused on Minnesota real estate auctions allow bidding from many investors in condensed time periods.

Checking all of these channels increases visibility of your Minnesota land to parties seriously looking to buy if priced sensibly. This saves you time having to weed out low-ballers down the road.

Tips to Expedite the Land Sale Process

Outside smart pricing and casting a wide buyer net, you can also:

  • Gather property details in advance - ownership info, acreage surveys, disclosures on easements etc. so buyers have what they need. Land Boss and other buyers rely on accurate documentation and transparency to make fair cash offers.
  • Be flexible with property access & inspection requests so buyers can evaluate conditions.
  • Move quickly to respond to communications and reasonable offer terms instead of hemming and hawing.
  • Lean on licensed real estate attorneys when reviewing purchase contracts related to Minnesota properties so nothing gets overlooked.
  • Set expectations for a streamlined 30-45 day closing process from accepted offer to funds being wired or check getting cut.

Taking these initiative helps buyers like Land Boss efficiently value then close on vacant land deals in Minnesota to deliver win-win fast sales.

Is Selling Inherited Minnesota Land Different?

If you have suddenly inherited land in Minnesota, selling it quickly has added nuances like:

  • Confirming you have valid ownership rights if not specifically named in the will.
  • Paying off any encumbrances like mortgage liens before selling so clear title transfers occur.
  • Handling taxes, missed HOA dues, maintenance costs you become liable for as the new owner.
  • Researching easements limiting use cases which can hurt value - like only farming access granted.
  • Accounting for senior property tax aid programs that may terminate after inheritance based on intended use and income qualifications.
  • Navigating family expectations if they feel emotional ties to land, hoping it stays in the family.

An inherited property can sell quickly still in Minnesota but may need extra coordination legwork beforehand. Companies like Land Boss help guide owners through title issues if interested in simple cash sales. But list prices might need adjustment if significant liens or limitations surface post-inheritance.

Does Land Need to Be Paid Off Before Selling in Minnesota?

If trying to sell mortgaged land fast in Minnesota, you ideally want to satisfy any loans prior to a closing. This provides buyers clear title without hassles assuming inherited land doesn’t have entanglements.

But for the right discount some buyers might pay off current mortgages as part of sales terms and use secured financing options at reasonable rates. Or they may assume loans instead of you having to come out of pocket if appraisals validate amounts.

Key things which determine if existing financing gets eliminated before vacant land sales include:

  • Loan to Value ratios based on sales price & payoff amounts.
  • Reviewing loan terms to understand transferability, early repayment penalties etc.
  • Interest rates on existing liens - under 5% loans often assume, higher seek payoffs.
  • Ease of segregating partial land parcels if only selling sections with financing entanglements.

Start discussions with buyers like Land Boss early about creative ways to handle financed land sales to gauge options beyond you securing a payoff. Especially when needing to exit quickly, flexibility optimizes dealings.

Does it Cost Money to Work With a Land Buying Company?

Reputable Minnesota land buying companies provide free consultations and make all cash offers at no cost or obligation to property owners. They have funds earmarked to buy land across various counties so readily give free value estimates.

These companies only profit from eventual sales to builders, farmers, investors etc. They don’t charge anything for assessments and have streamlined processes supporting quick closings once reasonable agreements get reached. Any costs involved with actual land ownership transfers and recording fees get covered by the buyers as well, not the sellers.

Bottom line - consultations are free and you control accepting offers or not. Qualified companies simplifying and expediting land sales won’t nickel and dime you with appraisal costs and closing fees either.

Final Tips for Successfully Selling Land Quickly in Minnesota

As a final summary checklist, optimizing a fast Minnesota land sale includes:

☑ Gathering all ownership documentation & disclosures upfront before listing.

☑ Pricing objectively based on market comps, not emotional appeals.

☑ Vetting land buyers’ business practices & understanding of MN real estate dynamics before engaging.

☑ Allowing buyers reasonable access for assessments - easements etc.

☑ Being flexible on closing dates within 30-45 days if fair offers arrive.

☑ Not dragging feet on communications & paperwork which extends timelines.

☑ Working with real estate attorneys to avoid legal issues, challenges.

☑ Managing expectations that ~80% of value is normal for urgent sales.

Check these boxes as able and teams like Land Boss provide viable avenues for fair cash offers allowing owners to sell their Minnesota land fast if required. Market volatility and unknowns associated with quick sales limit full value pricing. But the above tips help secure just outcomes when life requires prompt liquidation.

Hopefully this guide gives clarity to Minnesota land sellers on navigating fast sale terrain. With preparation and reasonable terms, cash buyers help bear the land equity release burden many owners suddenly face. Though not maximizing profits, urgent sales vehicles do allow benefiting from most land value during crunch times. Exercise options herein before economic factors eat away at equity further.

Final Thoughts

Selling vacant land in Minnesota can be a drawn out, difficult process - especially if trying to offload it quickly. As we have covered, traditional listing and sales methods often take over a year to yield results. Landowners who need to sell swiftly require alternative solutions. Partnering with a reputable land buying company that provides fair cash offers and handles the entire sales process for you is your best bet. Avoid the headaches of selling your Minnesota property independently and entrust the professionals to purchase your land smoothly and close within days. We take pride in making the land sale experience hassle-free while getting you maximum value. Contact us now to finally sell your unused land in Minnesota and get paid promptly in cash.

Frequently Asked Questions (FAQs)

How quickly can you buy my land in Minnesota?

We can make an offer within 5-7 business days after conducting a site visit. Once we agree on a deal, we can close within as little as 7 days or on a flexible timeline - whatever suits your needs.

Do you buy land anywhere in Minnesota?

Yes, we buy all types of land across Minnesota - including residential lots, farmland, hunting acreage, wooded lots, etc. As long as the property has clear title without encumbrances, we will buy it.

What closing costs will I pay when selling my land?

There are no closing costs or commissions when selling directly to us. As an all-cash buyer, we pay for title searches, document preparation, recording fees - everything. You just pick up your check.

How do I know I am getting a fair price for my Minnesota land?

Our cash offers are based on carefully researching recent comparable land sales in your county. We make appropriate adjustments for location, dimensions and development potential to derive fair market value.

Do I need to prepare my vacant land before you buy it?

There is no need to fix up or prep your land for us. We buy land as-is, regardless of condition. Simply provide proof of ownership and property lines marked. We’ll handle the rest!

About The Author

Bart Waldon

Bart, co-founder of Land Boss with wife Dallas Waldon, boasts over half a decade in real estate. With 100+ successful land transactions nationwide, his expertise and hands-on approach solidify Land Boss as a leading player in land investment.

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