Hi there -- I have been jumping into land deals via tax liens and tax deeds. I have my first deed which I've now listed w/ a realtor because I don't really know the ins and outs of selling it myself. I'd like to be able to list it on Ebay and Craigslist, but I don't know the real tactical aspect of structuring the deal, making sure I get paid, how to transfer the title, etc. I'd like to lean on the knowledge of the collective BP family vs paying a guru for their strategy and templates. Can someone point me to a blog or post somewhere with the step-by-step of how to sell vacant parcels. I am happy to share my strategy on how I find and research my deals and anything else I've learned in my real estate journey in return. Thanks in advance.
Deland, FL · Member since 2017 · 2k+ posts · 1k+ votes
5y
I would list via a flat rate agency for $100. It goes on MLS and offer 2.5% to selling agent
In my experience it gets the word out there on realtor dot com etc and the selling agent takes care of most of it such as the offer contract, electronic signing, seller disclosures etc and you close with a title company
In my experience title company charges a lot less than real estate Attys
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
5y
It's pretty easy. Determine value of the property with a tax deed, then sell for cash with a Quit Claim deed. An attorney can prepare the deed for you.
Deland, FL · Member since 2017 · 2k+ posts · 1k+ votes
5y
I would list via a flat rate agency for $100. It goes on MLS and offer 2.5% to selling agent
In my experience it gets the word out there on realtor dot com etc and the selling agent takes care of most of it such as the offer contract, electronic signing, seller disclosures etc and you close with a title company
In my experience title company charges a lot less than real estate Attys
At least in TX, never ever use a quit claim deed if you can avoid it! They are not "quick claim" deeds and are no faster than SWDs or GWDs. You can always FSBO. If you are selling vacant land, you can list on specialty sites.
IMO it's important to be aware of the property value. Know that if you list too high, your property will probably languish for months or years. I just spoke with a woman who is FSBO listing her vacant heavily-treed lot without street access for $25k. In this area, good flat lots with a few trees and street access typically sell for $15k. She laughed at me when I told her I would buy at somewhere under $10k since I'd need to pay to extend the 24' wide street 40' and clear the trees.
While checking the deed record I discovered she's been holding onto the vacant lot for 10 years. No wonder why!