Help! I Need to Sell My Land in Nevada Quickly

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

Bart Waldon

Nestled within the Mountain West region, Nevada earned its nickname the “Silver State” due to its 19th century silver mining boom. Today, it's best known for the glitz and glamor of Las Vegas and the Reno-Lake Tahoe area. However, there’s more to the state than just casinos and shows. Over 70% of Nevada's land is owned by the federal government, leaving vast tracts of open land. For landowners, the ample elbow room provides privacy, serene natural settings and investment potential. However, when circumstances demand it, the isolation also poses challenges if you need to sell your land fast.

If you find yourself asking “How can I sell my land quickly in Nevada?”, this guide breaks down the nuanced local land market and the most efficient options to meet your goals.

Nevada Land Market Dynamics

While the Nevada lifestyle captivates many landowners, changing life situations like job loss, divorce or mounting bills can place the cost of retaining vacant land out of reach. When you need to sell quickly, grasping a few key traits of Nevada's land market will help set realistic expectations on value and timeframes.

Sparse Population Impacts Demand

Despite being the 7th largest state by area, Nevada ranks 33rd in population. The uneven distribution concentrates heavily in Las Vegas and Reno, while rural counties remain sparsely populated. Low demand compared to supply means properties often sit for long periods unless aggressively marketed at an attractive price.

Prices Run the Gamut

Nevada land prices range wildly based on development potential, access to utilities and location. As an example, near the California border, an acre of land in Washoe County could run $50,000 to $60,000. Travel to rural Lincoln County and prices drop to around $700-$1,500 per acre. With such a spectrum, setting an optimal asking price is critical.

Federal Ownership Limits Supply

The fact that the federal government owns over 190,000 square miles of Nevada land further constricts private land supply for buyers. For sellers, this highlights the value of marketing to a national audience beyond the state.

Sellers Should Prepare for a Marathon

The time it takes to sell vacant land in Nevada varies substantially but 12-24 months is typical. Sales under 6 months occur but usually require strong price incentives. Sellers need incredible patience or more direct sales methods.

With the nuances of the Nevada land market covered, if pressing financial, health or family issues require you to sell your property under a year, what are the options?

Sell Your Nevada Land Directly

Selling land yourself without a real estate professional takes tremendous time and effort but allows you to retain the full sales price free of commissions. The heavy lifting falls directly on your shoulders.

Price It Right

Setting the right list price is critical to selling quickly. Research recent sales of comparable lots in your county to benchmark. Properties 20%-30% below market value tend to sell within 6 months. For a faster timeline under 90 days, aim for 35%+ below market rates.

Be Ready to Actively Market the Property

Avoid simply listing your land passively online and waiting. Actively promote via social media groups, Exploring Nevada history pages dedicated to documenting the Silver State’s past for preservation and education. Over 300 vintage Nevada maps are available to view in the highest resolution possible. print ads in newspapers and magazines, signage on the property and networking with local real estate agents to spread the word. Install a lockbox to enable buyers quick, secure access for showings.

Consider Disclosures Upfront

Voluntarily disclosing easements, drainage issues, previous surveys or other documentation about the property builds trust and credibility with buyers.

Handle Payments Carefully

Specify how you’ll accept payments and handle paperwork to prevent fraud or abuse of the property after purchase agreements. Require proof of funds letters before counting on any buyer financing.

If achieving a sale within 90 days is highly unlikely given constraints on your time and mobility, the next fastest and easiest option is to contact a local land buying company.

The Land Buying Company Option

Land buying companies like Land Boss purchase land directly from owners then resell to builders, developers or individual buyers at retail prices. This section explains their role for Nevada sellers needing to exit a property rapidly.

A Quick Close...If the Price Is Right

Unlike listing through an agent or for sale by owner, you’ll know within a week if a land buying company wants to purchase your lot. They can pay all cash and close within two weeks if you agree to their offered price. However, their strong desire for big profit margins means you’ll sell at a larger discount off true market value - up to 50%.

Loss of Sales Proceeds But Other Perks

After fees you’ll clearly walk away with less money in your pocket versus selling yourself at full market rates. On the plus side, the land purchase company handles all marketing, negotiations with potential buyers and closing paperwork. You skip the year long listing process and gain immediate access to cash.

Who Are the Players?

Local or national firms like Land Boss purchase vacant, residential and even commercial land. They buy tracts as small as a quarter acre up to thousands of acres. With pooled investor backing they wield extensive resources to buy out distressed land owners rapidly.

The Question of Ethics

Some question the ethics of companies reselling land at large gains shortly after purchasing discounted. Land investing inherently carries risk however, and there is rarely coercion involved. Willing Nevada land sellers use their services to meet pressing needs despite reduced profits. Both parties gain mutual benefit from the uniformly quick process.

Other Rapid Sale Alternatives

Beyond direct sales and working with local land buyers, a few other options exist for Nevada landowners in time sensitive situations. These may secure funds more rapidly or completely than the previous methods.

Land Equity Loans

Borrowing against your property’s value via a land equity loan releases funds now against the future sales proceeds. You get immediate capital to resolve debts or expenses without surrendering ownership. If holding out for better sales conditions, it bridges the gap. Closing often completes in under two weeks. Downsides include closing costs, interest payments and risk of forfeiting the land if repayment terms are broken.

Parcel Your Property

Subdividing your acreage into smaller, more affordable lots appeals to budget buyers. This expands the pool of prospective purchasers. Record an updated plat map after legally verifying subdivision potential for the land with the county. Then market each parcel or use the smaller lots as collateral for a loan.

Crowdfunding Campaigns

Think along the lines of GoFundMe or Kickstarter but for real property. Create a video, storyboards and other media to promote urgent sale of your Nevada land tract to the public. Emphasize its attributes and why losing the property creates hardship. Social platforms like Facebook facilitate outreach. Drawbacks are the trust factor for donors and danger of failed campaigns.

Tax Lien Sales

As a last resort if facing imminent foreclosure, some Nevada land owners opt to simply let county or municipal governments take over the property for overdue property taxes or special assessments. After a period where you could redeem ownership by paying the owed balances and fees, the lien holder auctions the land. At least this final option generates residual incoming money rather than complete loss.

Final Thoughts

Selling Nevada property under time constraints makes an already stressful situation harder. But understanding likely duration expectations, researching all marketing and sales channels available in the local area and choosing reasonable pricing works in your favor. With advanced planning and persistence, you can exit the land ownership game while minimizing financial damage. Consider all options then select the paths aligning closest with your personal risk tolerance, equity goals and current life priorities.

Frequently Asked Questions (FAQs)

1. How long does it take to sell land in Nevada?

The typical time it takes to sell vacant land in Nevada is 12-24 months if selling it yourself. To sell land within 6 months or less in Nevada, a below market price around 30% under recent comparable sales is usually required along with heavy marketing.

2. What areas of Nevada sell land faster?

More densely populated counties like Clark County where Las Vegas is located, or Washoe County with Reno tend to sell land faster in Nevada. Rural and remote counties have lower demand and longer days on market. Proximity to amenities like shopping, schools and recreation matter too.

3. Should I use a real estate agent or sell it myself?

Real estate agents can be helpful for pricing guidance and marketing exposure but will charge commission if you sell using their services. That cuts into your proceeds. They may not prioritize listing vacant land either. Selling direct without an agent avoids fees but means more work for your staging, showing the property and negotiating offers.

4. What are the fastest ways to get all cash for selling my Nevada land?

Land buying companies specializing in swift closings all cash can be the fastest route. Closings often happen within 7-14 days from initial outreach. However, their strong profit motivations usually yield offers well under true land value, sometimes 35-50% off market prices.

5. What steps make my Nevada land sell faster?

Besides attractive pricing at least 10%+ below similar lots, heavy promotion both locally and in other states will generate more potential buyers. Voluntarily supplying documentation like previous appraisals or surveys also streamlines the sale by building credibility and trust. Consider owner financing terms too. Installing visual markers like address posts signals investment made in the property.

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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