I am about to take the leap and get into investing in vacant land but I am very nervous about buying selling land without a real estate agent.
Can anyone tell me exactly what I need to do, who to contact, what paperwork I need to buy a piece of land and also what I need for selling the land myself.
Specialist · Los Angeles, CA · Member since 2019 · 587 posts · 269 votes
6y
@Zachary Prince I buy and sell land without a real estate agent all the time! I would love to help you out and teach you all the tricks I know. Please feel free to message me!
Residential Real Estate Agent · Delray Beach, FL · Member since 2010 · 115 posts · 83 votes
6y
Hi Zach, "hook-up" with "real estate pros", here on bigger pockets and I'm confident you can "learn a bundle" on how to buy and sell vacant land for profit! I've "bought 100s" of vacant parcels that were NOT listed by agents (I.e., REO's from banks, tax sales, unwanted parcels that were donated to non-profits, like Habitat for Humanity, ------> "you name it, and I've tried it! At this point of my life, "flipping land is like breathing"!
Listed land for sale by real estate agents? Bought a bunch of them too! Many real estate agents don't like listing "vacant lots". Why? Many times, their real estate commissions amount to just a "few nights with the family at Olive Garden". LOL! So many agents just list a vacant parcel at what they believe to be "the highest and best price", and then let the listing just "sit on the MLS" and hope for the best! Agents would rather "list a home" (for much bigger commissions!).
Many agents that I've done deals with over the years will simply contact me before they list a parcel on the MLS (this is called a "pocket listing"). If I like the vacant "pocket listing" parcel, I'll make an offer ASAP! They contact the Seller and let them know that a "local investor" made an offer and many times my offer is accepted by the Seller, ASAP!
After I close the "pocket listing", I will send a nice letter to the agent's broker (who may have 100 agents "under his or her command"!), saying "thanks to your agent, we did a "pocket listing sale" within a day or two! So "Mr. Boss Broker", if you or your agents office get "land-listings", contact me first ----> ASAP! And I can "be a blessing for you and your agents" with a "quick deal", ...thus avoiding all those "MLS listing headaches" for little commision. This way your agents can spend their time "marketing and listing homes" for "bigger pay days". So "Mr. Boss Broker", if you get a "pocket listing of one or even fifty vacant parcels", ...I'm a big cash buyer of vacant land in your area! I may save a "year's work" for your agent and close a land deal within days!
So Zachary, "the sky is the limit". So contact these "Bigger Pockets Pros", and "soak-up" as much as you can! Best of luck Zack! Bob Dobbs
Real Estate Agent · Grand Junction, CO · Member since 2015 · 1k+ posts · 736 votes
6y
@Zachary Prince you need to specify where you are. The paperwork, laws, etc. vary greatly from place to place. And if you are "very nervous" why not have a pro for the first buy and first sell at least? Cheap education and protection...
Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
6y
If you go online you can Google the forms needed to execute the contract - while you're representing yourself you should at min. have an attorney review the contract to make sure someone is looking out for your interest. There's resources on YouTube also that can guide you to write the offer.
The Elle Group5153 Reviews