When you’re ready to let go of a piece of property, you may have some questions when selling land about what information you need to have ready and available. As one of the top Direct Land Buying companies in Arizona and around the Southwest, Investment Land Alliance can help. By anticipating what questions potential buyers will ask, you can help move the selling process along faster and with far less stress. In this video post, Jeff shares information about The Most Common Questions When Selling Land.
From the video:
Hi, this is Jeff with Investment Land Alliance. And I just wanted to touch base on—a lot of times we get properties and we’re buying properties from sellers and they ask, “What do I need to supply you with? What kind of information do you need from me?”
And the biggest thing, of course, is going to be the APN, or the Assessor’s Parcel Number, or just the parcel number. And that’s going to be the number that the county assigns to every single property so that we can look it up, and they can look it up in their files. And so we absolutely need that.
And then from there, a lot of other useful information when we’re doing our research is going to be:
- Are there any liens or encumbrances on the property?
- So are there any back taxes on the property?
- If it’s an HOA or a POA, are there any back dues?
- In an HOA, what are the transfer fees? And what are the monthly or yearly dues associated with that?
- Was there ever a loan on the property? Was that paid off?
And so that’s all really good information for us to have when we’re doing our research.
Some other things that are important to know are:
1) The current use
So is it just being used as raw, vacant land? Is there a, is there a farm on it? Is it being used as mobile home? Or just what the current use is, if anything.
2) The zoning is nice
Most of the stuff is going to be rural and residential or just vacant.
3) And then, if there’s anything on the property
So, one, if you have done anything to the property to improve it. For example, a fence line around it, or septic, or brought power in, or there’s solar, or maybe there’s a tank or a shed or something on there that’s going to be useful. And then also, we’d like to know if there’s stuff that’s on there that maybe shouldn’t be, like an abandoned mobile home or an abandoned car or the neighbor’s junk is spilled over into the lot.
So that’s all stuff that’s important to us. And then, of course, we always do our own research and then probably would have more questions for you.
I just wanted to touch on that as we get a lot of questions from our sellers and people interested in selling land, what they should be supplying people with and answers they should have ready. Again, our website is ILAbuys.com and if you have any other questions, we’d love to talk to you about it. Thanks!