Should You Trust “We Buy Land” Companies?

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Should You Trust “We Buy Land” Companies?
By

Bart Waldon

If you've seen ads from companies promising quick cash for rural land, you may wonder whether these direct land buyers are trustworthy or not. With dozens of “we buy land” firms now offering to purchase acreage sight unseen, how can sellers know their best interests will be served?

At our land buying company Land Boss, we strive to provide a transparent, ethical land purchase process for owners prioritizing speed and convenience. However, land buyers like us cater to a specific seller niche - those needing to sell land fast and at reasonable pricing rather than maximize profits. This article explores the pros and cons of both land buying company deals and traditional sales.

Understanding the Land Buying Company Model

Land buying companies like Land Boss employ a direct-to-seller real estate investment model focused on purchasing rural land for cash. We appeal primarily to owners desiring a quick, simplified sale process.

These companies advertise online, via mailers, billboards, radio ads and other channels seeking remote land owners. After property owners submit basic parcel details, the company makes a cash offer based on a drive-by assessment or aerial analysis rather than full land appraisal.

If the seller accepts, the land buyer handles all paperwork and closing. We buy properties “as-is” regardless of any issues. The goal is reselling purchased lands to end-users at market prices.

Speed and Convenience Benefits of Land Buying Companies

The core advantages of selling to established land buyers like us include:

- Extremely fast sale timeline - we provide offers within 1 day on average after contacting us about your land.

- Potential to close in as little as 14 days. Much faster exits than traditional sales.

- Avoid spending months personally marketing and showing land to buyers. Less hassle for motivated sellers.

- We handle all closing details and closing costs for a smooth, easy transaction.

- Ability to purchase most types of rural or wooded acreage since we resell to end-users.

- Proceeds available quickly to pay off debts or other pressing needs.

For those focused on convenience over maximum sale price, this route offers benefits compared to agent listings. But it’s not the right fit for all.

Risks and Tradeoffs to Weigh With Land Buying Companies

However, selling to a land buyer like us does involve tradeoffs and risks to consider:

- We purchase at discounted pricing - often 50% or more below potential market value. Money is left on the table.

- The rapid process provides less time to research options or consult real estate professionals on property value.

- Minimal due diligence means sellers assume more risk of any undisclosed issues later discovered.

- Sellers relinquish input on how the land is ultimately divided and resold after acquisition.

- Less transparency on buyers' company track records than established brokerages. Vetting is crucial.

- Unscrupulous buyers may misrepresent land regulations or employ manipulative sales tactics.

The convenience comes with compromises to weigh against hiring an agent. We cater to owners prioritizing speed and simplicity.

Importance of Thoroughly Vetting Land Buying Companies

Given the risks when dealing with unknown land buyers, you must scrutinize any cash buyer:

- Research online reviews for the company and specific agents. Watch for consistent complaints.

- Confirm required real estate licenses and memberships are active and in good standing.

- Request references who’ve sold to the buyer – call them to verify positive experiences.

- Review the Better Business Bureau profile for transparency and responsiveness.

- Search transaction records to confirm they actively sell, buy and resell lands acquired. Avoid companies flipping no inventory.

- Require proof of available capital to close deals quickly as advertised.

- Get all offer terms and promises in writing. Verbal assurances are often meaningless.

Vetting land buyers thoroughly upfront reduces chances of encountering unethical companies or individuals. Only transact with transparent buyers who honor promises.

Warning Signs of Untrustworthy Land Buyers

While most land buyers operate ethically, several red flags can signal unscrupulous cash buyers to avoid:

- Refusal to disclose company details like years in business or client references.

- High-pressure sales tactics urging you to accept offers immediately or risk rescindment.

- Vagueness about who will be the buyer on record or the reselling process.

- Excessively high initial offers hoping you don’t scrutinize the deal.

- Demands for first right of refusal on any higher offers you might receive post-theirs.

Serious evasiveness or overly aggressive sales tactics are glaring warnings. Protect yourself by exercising caution.

Pursuing the Traditional Listing Process Instead

Rather than selling directly to a land buyer, hiring a trusted agent to list your rural land on the MLS is another valid option. Benefits include:

- Often 30-50% higher final sales price than cash offers by maximizing market exposure over months.

- Flexibility to negotiate specialized sales terms and conditions while cash buyers use pre-set contracts.

- Guidance from an experienced real estate agent knowledgeable on local land values and intricacies.

- Sales contracts better protecting your long-term interests after relinquishing ownership.

- Opportunity to thoroughly vet buyers through bank approvals, appraisals etc.

Tradeoffs are the slower process of staging, showing and negotiating the property over many months or years. For those focused on fast sales, cash buyers like us offer clear advantages despite lower pricing.

Seeking Attorney Guidance on Big Deals

On high-value land sales, hiring an attorney well-versed in land contracts to review paperwork prior to signing is wise. They can catch:

- Buried fees inflating the net sale price you actually receive.

- Clauses unfairly favoring buyer interests over yours.

- Forfeiting legal rights to arbitration if disputes arise.  

- Ambiguity around title transfers, deed recordings and closing logistics.

For large transactions, legal expenses provide prudence. Don't skip this vital step.

The Catch With Excessively Fast Sales

While lightning-fast land sales save time, under-informed decisions also risk regret. Most sellers benefit from reasonable time to properly weigh options and assess buyer reputations.

High-pressure tactics urging immediate deal acceptance should always raise red flags. Caution protects against poor outcomes when selling valuable assets. Never rush into signing.

Do Land Buying Companies Like Us Make Sense For You?

Selling directly to reputable established cash land buyers like Land Boss makes sense for land owners prioritizing speed and convenience over maximizing sale prices. We serve an important niche.

But the deep discounts offered mean significant proceeds are sacrificed vs. traditional sales. Analyze your goals and priorities before deciding which route fits best. Vet any buyer thoroughly. Consult real estate attorneys on large deals.

For those seeking reputable cash buyers focused on quick closings and hassle-free sales, connect with Land Boss. Let's discuss your needs and see if we're a good fit to buy your rural land. Selling land fast, particularly raw land, is not easy. Dealing with companies that buy land like us can be a much easier, hassle free process with zero closing fees, transfer taxes, agent fees, advertising costs, transfer costs, real estate agents or even a real estate attorney. We buy vacant land, undeveloped land, land properties, and other property types for fast cash.

Contact Land Boss Today to Explore a Cash Land Offer

If you have rural land you’re looking to sell quickly for a fair cash offer, get in touch with our team at Land Boss. We make fair cash offers tailored to your unique scenario. And we handle the entire transaction smoothly from due diligence to closing. No need to wait months for your vacant land parcels to sell while paying property taxes or spending thousands on a real estate agent to help you sell your land.

Connect with us for your free no-obligation cash offer on potentially buying your land for cash. Let’s explore your options together!

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