I have made inquiries to buy a piece of vacant land, but without any response. Where am I going wrong? Please advise.
This would be my first investment.
I live overseas, in the UK.
The lot is now reduced to just $1,000.
I have contacted two agents via Trulia, and contacted the owner - who has other lots up for sale; but with zero response from all three.
Is this listing likely to be real/ genuine (or am I missing something, somewhere)?
Is it because it's 'cheap', and not worth bothering with?
Is it because I am overseas, and therefore considered 'too much hassle'?
Is it a combination of the above?
Should I bother?
Any input and avice would be gratefully received.
It’s probably a combination of all the above. Most realtors are awful at responding in general.
You need a local agent you can email with.
I have bought and sold land for a number of years as a private investor. It may seem shocking, but I can honestly say that probably 80% of the inquiries I have made through real estate agents have gone completely unanswered. It's a never ending source of frustration and amusement for me. Why the owner hasn't responded is a head scratcher, I would just ask how do you know you're contacting the actual owner? If you're reaching out through a website, it may be getting routed to a "Realtor" who has paid for leads to go to them (and once they get your lead they ignore it because of the value of the deal).
One real issue you are facing is the price point at which you are buying. There is absolutely no motivation for a "Realtor" to work this lead. In the U.S. the sales commission on the buyer's side for vacant land is typically 5%. If the agent is splitting their commission with their broker, they may be left with $25-35 to do this deal. Forget the "Realtor" brochure about helping people fulfill their real estate goals, they are in it for the money and if there is no money they could care less about your deal (which I understand, as much as it may conflict with their advertised principles).
If you're looking for vacant land try LandWatch.com, RuralVacantLand.com, or LandPin.com, amongst others. These are serious land dealers that will respond to you.
I deal primarily in vacant land in Florida, and would be happy to answer any questions you have.
As a Realtor here in Florida, I would be raising an eyebrow about anything sold that cheap.
Be sure to research it to make sure it's not actually worthless. There I'd quite a bit of land here that is unbuildable.
As far as not answering phone calls, the best course is to develop a relationship with a real estate broker in that area, or in whichever area you want to invest in.
I know when someone calls from overseas, a red flag goes up for me since there are so many scams that occur over the phone from overseas.
Perhaps the real estate agents you called didn't have experience enough to realize it was a legitimate business opportunity and an opportunity for further investments.
Keep trying, it may be well worth your time.
Many thanks to all respondents.
However, in view of the difficulties encountered to date, the above comments noted, and the potential issues (and minimal profit); I have now decided to give up on this idea.
If anyone is interested, the land is still available here:-
Recording County: Garland
Legal Parcel ID: 400-19080-034-000
Legal Description: 16-03S-19W / 001 / 033
Property owner: Allied Ventures LLC
don't give up on buying land, but be able to do your due diligence period before and during and after, locally...land lots seem to be getting more popular than ever..sort of like mobile homes when they were uncool and have become a hot item..
Scammer likely from seller or buyers.
You do not expect to pay some realtor US$25 for 25 hours of work. No listing agent will be bothered either.
You need to fly over see yourself.
The ad says it's for sale by owner why not contact the owner ,as mentioned a realtor is not going to answer your call for a possible$25 commission,