Why We Love Buying Washington Land in Cash

Washington state is a beautiful and diverse place, from the rocky Pacific coastline to the snow-capped Cascade Mountains to the fertile farmlands of eastern Washington. With abundant natural resources, a strong economy centered around Seattle and a high quality of life, it's no wonder so many people dream of owning land in the Evergreen State. Buying raw land for cash offers a more affordable way for the average person to get a piece of Washington.

The Allure of Washington Land

There's something special about owning a piece of the great outdoors. When you buy land in Washington, you're not just acquiring an asset - you're buying into a lifestyle. Maybe you envision building a vacation home in the woods where your family can reconnect with nature. Or perhaps you see yourself planting an orchard or starting a small farm on acreage in wine country. Even if you just want a private campsite or wooded retreat, raw land allows you to stake your own little claim in Washington's spectacular scenery. The state has diverse ecosystems from temperate rainforests to high deserts, so land buyers can choose their ideal landscape and views no matter what they are looking for.

The Benefits of Buying With Cash

Paying cash for land can make the process quicker, simpler and more affordable. Here are some of the key benefits of buying Washington land with cash versus financing:

Less Hassle

With a cash purchase, you don't have to go through an extensive approval process involving credit checks, income verification and lots of paperwork. You also avoid hassles like making monthly mortgage payments, coming up with a 20% down payment and paying various loan origination fees. The whole process is streamlined.

Flexibility

Buying with cash means you can act quickly when you find the right property. You won't miss out because you're waiting on financing contingencies. All-cash offers are also much more attractive to sellers because they don't come with strings attached or timing issues. There's less risk the sale will fall through.

Cost Savings

Financing land typically requires 20% down or more, and interest rates can be quite high for vacant land loans. Paying all cash eliminates the need for a hefty down payment and avoids interest charges and fees altogether. Land bought free and clear of any loans, liens or encumbrances also simplifies ownership immensely.

Privacy

Some land buyers prefer to keep their purchases private for personal reasons. Paying cash allows you to be discreet and avoid submitting financial documents during the lending process. The deed is simply transferred to you with no credit checks or approvals required.

Finding Deals on Washington Land

Raw land prices in Washington vary widely, but there are deals to be found if you know where to look. The secret is targeting motivated sellers who are more flexible on price. Here are some insider tips for finding discounted land:

• Search online land listing sites like Lands of America for parcels that have been on the market for a longer time. The owners may be ready to sell.
• Let neighbors and realtors know you are looking for land. Networking helps you find "pocket listings" before they go on the MLS.
• Consider buying from banks, asset managers or companies like Land Boss that purchase land at volume discounts. They can pass savings on.
• Look for parcels in rural areas farther from amenities like electricity, sewer and water. Being "off-grid" lowers the land's value.
• Search out owners who inherited land they have no use for, like out-of-state heirs. They are often motivated.
• Don't be shy about making a lower cash offer on an overpriced or neglected parcel. The seller can always decline or counter.

Buying Land From Companies Like Land Boss

Some people perceive making low offers on land as taking advantage of sellers. However, companies like Land Boss provide a valuable service to owners by purchasing land they are having difficulty selling otherwise.

Land Boss and similar companies buy a high volume of properties to get better bulk prices from sellers. They have the resources and expertise to buy and hold land for extended periods if needed. Landowners benefit by getting cash quickly instead of waiting indefinitely for the ideal buyer.

These companies aren't just looking to flip land either. They sell at reasonable prices to individuals, developers and others looking for discounted land deals. At the end of the day, companies like Land Boss help keep land ownership fluid so the resource gets used, not hoarded.

Selling Land to a Company for Cash

Trying to sell land yourself, even at fair market value, can take many months or even years unless the owner is willing to slash prices significantly.

The reasons are simple - raw land is an extremely illiquid asset with a very limited pool of buyers at any given time. Plus, selling land requires a tremendous amount of time, effort and expertise that most individuals lack.

Rather than deal with the uncertainty and hassles, consider approaching a local land buying company like Land Boss. Selling your land for an agreed cash price provides real peace of mind.

Reputable land companies have the resources to market your property, handle all the legalities and find buyers much more efficiently. Once they make an acceptable offer, you can walk away with cash in hand on your own timeline. This convenience allows you to move on with minimal headaches.

For Land Lovers, Cash is King

Washington's beautiful and varied landscapes have captured many hearts. Buying raw land here for investment, recreation or personal use is an attractive idea but can be difficult to achieve through traditional financing. Paying cash for land makes the dream more accessible.

With an all-cash purchase, you save money, avoid hassles and gain flexibility. While land financing certainly has its place, paying cash is generally simpler, faster and more affordable. By targeting deals and partnering with reliable land companies, you can buy into the Washington lifestyle on your own terms.

Should You Invest in Washington Land in 2023?

With interest rates and inflation rising, you may be wondering if 2023 is a good time to invest in Washington land. Here are some factors to consider when making this decision:

Rising Prices

Land prices in Washington have been increasing steadily over the past decade, with 10-20% annual gains in many markets. As the population grows, development expands, and land supply decreases, prices are likely to keep rising. Buying now could mean strong returns on investment.

Tourism Growth

Washington's $22.8 billion tourism industry continues to grow post-pandemic, increasing demand for recreational properties and land. Popular destinations like Seattle, the San Juan Islands and wine regions saw record visitors in 2022. Investing near top attractions can pay off.

Remote Work Trends

With remote work expanding, Washington's nature and lifestyle appeal to those looking for scenic escapes. Metro outskirts and rural areas within driving distance of cities are drawing remote workers, bringing up land values.

Limited Supply

Only 15% of Washington's land is privately owned. With so little available, rising demand keeps pushing land prices up. Scarce supply makes land more valuable over time.

While market uncertainty exists, Washington's appealing lifestyle, booming tourism and population growth provide strong tailwinds for land investments. Acting when prices are still rising can lead to higher returns down the road.

Final Thoughts

Washington's stunning natural beauty and thriving economy will continue to attract people seeking an ideal lifestyle. As population and development increase, available land will become more scarce and valuable over time. Purchasing land now while prices are on an upswing could prove a smart investment for the future. Paying cash allows buyers to act quickly on deals and avoid financing costs. For those who love the Evergreen State, buying Washington land in cash can turn dreams into reality.

Frequently Asked Questions (FAQs)

What are the benefits of buying land with cash?

Paying the full amount in cash provides several advantages over financing your purchase. You avoid all interest charges, loan fees and down payment requirements. This saves you money. Cash also gives you maximum flexibility - you can move quickly to secure a deal without waiting on bank approvals. All-cash offers are much cleaner for sellers too since there's less risk of the sale falling through.

What kind of discount can I reasonably expect when making a cash offer on land?

Cash buyers often get anywhere from 10-25% knocked off the listing price since sellers don’t have to worry about the buyer’s financing falling through. For a highly motivated seller or a parcel with issues that reduce its value, discounts of 30% or more are possible with an all-cash offer.

How can I find the best land deals available in Washington right now?

Look for parcels lingering on the market for months, bank-owned properties, deals offered by land companies, remote or undeveloped tracts, owners who inherited land they don’t need, and overpriced listings where lowball offers may work. Checking sites like Lands of America helps uncover deals. Making offers below asking price can unlock good discounts.

Is it overly risky to purchase land with all cash?

Paying cash actually reduces your risk because you own the property free and clear with no loan or lien. However, only purchase what you can comfortably afford and be sure to get inspections and title insurance for protection. Don’t overextend your finances on a land purchase.

Realistically, how long might it take me to resell land I purchased with cash?

With raw vacant land, it typically takes 1-3 years to resell at a profit unless you get very lucky with finding a motivated buyer quickly. Paying all cash allows you flexibility to wait for the right deal rather than being forced to flip the property fast to repay loans. Patience pays off.