Help! I Need to Sell My Land in Oregon Quickly

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

Bart Waldon

Oregon is a scenic state located in the Pacific Northwest region of the United States. Known for its vast forests, mountain ranges, high deserts and rugged coastline along the Pacific Ocean, Oregon's diverse landscape provides many opportunities for land ownership. The state has seen rising property values in recent years, making it a seller’s market in many areas.

However, selling land still presents certain challenges that require proper planning and marketing. This article will provide an overview of key steps to take when you need to sell your land quickly in Oregon.

Understanding Oregon’s Robust Real Estate Market

Oregon has one of the nation's hottest real estate markets. Home prices rose 12% in 2021 alone, more than double the national average. This boom extends to land as well. There is high demand from buyers looking to build homes, develop commercial projects, or tap into Oregon's agriculture, timber, tourism and other industries.

At the same time, Oregon has very limited private land available for sale. Only 4% of the state consists of private land. The majority is held publicly. This further constrains supply amidst soaring buyer interest.

This presents major opportunities if you own vacant land in Oregon and want to unload it quickly. Properties tend to sell rapidly and for top dollar if priced right.

Key Factors in Getting Your Land Sold Quickly

Selling Oregon land swiftly involves optimizing several key factors:

Pricing It Right

Setting the right list price is critical for a fast land sale. Price too high and it may linger for months or years. Price too low and you leave money on the table.

Properly pricing land requires researching recent comps (comparables) - what similar vacant land nearby has sold for recently. A real estate agent familiar with Oregon land can provide guidance here. You want to be priced competitively but still entice buyers.

It also helps getting an appraisal to back up your list price with fair market value analysis from a licensed appraiser.

Marketing Reach & Frequency

Casting a wide net and staying persistent with advertising gives your property enough exposure to sell quickly.

At minimum, list it on the regional Multiple Listing Service (MLS) so real estate agents learn of it. Also consider niche land listing sites.

You also need visibility for the general real estate investor public and owners of adjacent parcels. Yard signs, online ads and classifieds help cover this.

Offering Owner Financing

Not all buyers can qualify for mortgages or have enough cash to buy land outright. Offering seller financing opens your property to buyers with limited finances.

You set the terms - down payment, interest rates, payment schedule, etc. It makes your listing more attractive than ones requiring conventional bank financing.

Working With Land Buyers

There are also companies like Land Boss that specialize in buying and selling land in Oregon. They have cash to purchase property directly. This avoids drawn out bank financing.

Such companies may pay wholesale prices since they aim to profit reselling. But they close deals fast, often within two weeks. So, explore working with them if you want speed and less hassle over top dollar.

Challenges With Trying to Get Full Market Value

The steps above help you get a land sale locked in swiftly. However, taking that route also means compromising somewhat on price or shouldering more risk if you want full pop listing price. Here are the tradeoffs:

Requires Substantial Marketing Efforts

Asking retail market value means pulling out all stops on advertising and promotions for 6-12 months minimum.

You need a real estate agent to advocate for you, tools like high quality listing photos and video tours, plus casting the widest net possible online and offline.

And if you sell yourself, that is extremely time consuming coordinating showings, answering buyer inquiries and negotiating offers.

May Need to Offer Financing Yourself

As mentioned, many buyers lack sufficient cash or financing to pay top dollar. This is why owner financing helps. But you must wait years potentially to get fully paid.

You also risk the buyer defaulting altogether. And if they do, reclaiming the property can be lengthy and expensive.

Competition From Other Sellers

Getting every last dollar for land means competing amidst lots of other motivated sellers also trying to offload properties in a limited market.

If you refuse to budge at all on price, other listings with more flexibility will likely sell faster. This forces you to choose between slowly dropping price or holding out indefinitely.

Maximizing Resale Value with Patient Selling

For sellers focused strictly on getting maximum resale proceeds even if it takes 1-2 years, here are some additional tips:

  • Work closely with your real estate agent so they actively market the property through their investor network
  • Consider fractional sales - divide into smaller parcels if feasible to attract more buyers
  • Get creative with trades - would you take an RV, boat or other assets rather than just cash?
  • Install tenant improvements like gravel drives, utility access or drainage to justify higher pricing
  • Be willing to self-finance deals with only 10-20% down to provide incentives

The key is expanding the pool of potential buyers through flexible terms while showcasing the property's potential.

Working With Land Buyers

The advantages of selling to a land buying company like [Land Boss] are speed and convenience rather than maximum resale prices.

As noted, we specialize in buying and selling land across Oregon. We use our own capital to purchase properties for cash, closing in as little two weeks in many cases.

This saves you significant time and fees you would incur selling through traditional channels. It also avoids the burden and uncertainty of offering owner financing yourself.

We can provide fair cash offers quickly. They are based on comparables minus allowances for our resale efforts and risks.

So, while our offers will be below full open market retail prices, that is the tradeoff for fast sales, no financing contingencies, and very high closing certainty.

For those who decide the quick cash sale option works best for them, we would be happy to make an offer on your Oregon land.

Key Takeaways - Selling Land Quickly in Oregon

Selling vacant land swiftly in Oregon’s hot real estate market is certainly feasible but also poses some distinct challenges:

  • Accurately pricing land is essential using thorough comps research and appraisals
  • Extensive marketing and promotions are necessary for full exposure, especially if asking top dollar
  • Offering owner financing opens your property to more potential buyers
  • Working with established land buying companies can secure quick cash sales through wholesale pricing
  • Maximizing resale requires patience and creative deal structures over 1-2 years

Overall, selling land for maximum value requires substantial time and marketing efforts. Alternatively, those needing to sell quickly can get fair cash offers from companies like us but will trade some resale proceeds for speed and convenience.

If you own land in Oregon and need to sell rapidly, weigh your priorities then develop the right strategy to meet your goals, timeline and risk tolerance. With the proper approach, you can capitalize on highly motivated buyers and sell smoothly and profitably.

Final Thoughts

Selling land can be a lengthy and complex process, especially if seeking top resale prices. But with an understanding of Oregon's real estate dynamics and getting the property adequately exposed to buyers, landowners have an opportunity in the current seller's market. Those who need to sell quickly have the option of reputable land buying companies as well to trade some potential proceeds for speed and convenience. Ultimately, aligning with the right real estate agent, pricing correctly, and marketing thoroughly gives vacant land sellers the highest probability of success. Exploring creative deal structures further optimizes results. Don't hesitate to reach out to resources who can support you in navigating a successful land sale or purchase in Oregon.

Frequently Asked Questions (FAQs)

How long does it take to sell vacant land in Oregon?

If priced correctly and marketed aggressively, vacant land parcels in Oregon’s hot real estate market can sell within 30-90 days on average. However, it could take 6 months to a year or longer to secure a buyer if seeking maximum value, using limited advertising, or have site complications.

Should I get my land appraised before selling in Oregon?

Yes, it is highly recommended to get a professional appraisal done by a licensed appraiser before listing your Oregon land for sale. An appraisal helps set an accurate and defensible asking price based on fair market property valuations in the local area. This makes your listing more attractive to prospective buyers.

What expenses are involved when selling Oregon land?

Common expenses include appraisal fees, legal fees to review purchase contracts, title transfers and closing costs, real estate commissions if using an agent, advertising and marketing fees, yard signs and property inspection costs. Budget approximately 10% of the sale price for selling expenses.

How do I determine a reasonable price for selling my Oregon vacant land fast?

Research prices for recent comparable land sales in your county using real estate sites. Also consult local real estate agents specialized in land transactions to help suggest listing prices and offer guidance based on various property features. Consider getting multiple pricing opinions.

Should I offer owner financing when selling Oregon land?

Offering owner financing allows buyers with limited resources to still purchase your land. This expands your potential market. But also understand the risks if the buyer defaults and ensure you set proper terms like interest rates, down payments and early payoff incentives. Seek legal counsel when drafting owner financing contracts.

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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