Sell My Land in Florida - F.A.Q.'s

December 22, 2016

How do I sell my Florida land?

Our process is simple and straightforward if you are thinking you may want to sell your land. Just fill out and send back the form you received in the mail. We will then analyze the property and send you an offer.

 

The more information you give us (address, parcel ID#, owner name, etc.) the easier it will be for us to locate your property online and in county records.

 

Typically, all offers go out on weekly on Mondays. So if we get your form on a Tuesday, it will be analyzed throughout the week and weekend and your offer will be mailed on the following Monday.

 

(This process can be slower during high volume months such as summer time and holidays)

 

When you get the offer, it will spell out exactly how much you will get at closing. Fees fluctuate, but since we pay them, we can give you an “out the door” offer so you know exactly how much you will be walking away with.

 

It will also outline our estimated closing costs and other fees we may need to pay.

 

If you need a faster response because of time issues surrounding the selling of the property, please indicate that in the “other property details” section and we will try to expedite your offer.

 

Also be sure to include a valid email address so we can get it to you via email as soon as it is finished.

 

Who are we?

We are a husband and wife team located in Central Florida. We both currently work full time in education and we buy and sell Florida land as a hobby business, paying all cash for the properties we purchase.

 

Whether it’s with our own money or investor money, using non-bank sources for cash allows us to make a decision and close quickly without a lot of paperwork, hassles, and headaches.

 

That being said, we don't have extra time to spend on the phone just getting property information and details. We spend as much of our free time as possible with our family.

 

This is also good for you. A no-nonsense offer. You won't be dealing with a gifted salesperson on other end of the line. You just get an offer and you either like it or you don't. No problem, no mess. We'll spend more time analyzing the property than you will filling out our form.

 

If you must reach us, you can always leave us a message at the number provided on your letter. If you found this site online and have a property for us to look at, please email us directly (Jason(at)FloridaLandBuyers.com).

 

I got a letter in the mail. How did you get my information?

All information we use is public record and can be obtained by anybody through contacting the county for tax data. We download lists in large quantities.

 

Do you buy land outside of Florida?

No. Not at the moment. But maybe someday. 

 

What Florida Counties do you buy land in?

We are open to purchasing vacant land in any county in Florida. It could be agricultural land, infill lots, or just raw vacant land. 

 

Do you buy houses?

No. We do not currently invest in houses. However, we do have one rental unit right now. Interesting how that happens. We will eventually be more actively investing in houses (at least that’s the plan).

 

If you have a house you need to liquidate quickly, let us know. If it’s something we’re interested in and we have an investor who wants to get involved, we may be able to work it out. The worst thing that will happen is you’ll get a letter or email saying we aren’t interested at this time.

 

How long does it take to close and get my money?

Depending on the complexity of the purchase, we can typically close in 2-3 weeks and under certain circumstances that can be accelerated. Speed also depends very much on how long it takes you to get the proper documents signed and submitted to the title company. 

 

If your parcel is in a subdivision with association dues, sometimes we have to wait to get an estoppel from your association. We have no control over how long they take to give us that. It's usually less than 10 days and is usually one of the last things we're waiting on.

 

An estoppel is, (as I understand it)  just a statement saying how much (if any) is still owed to the association.

 

How much will I get?

This can’t be answered without looking at each individual property. Once you fill out our form online or send back the land questionnaire you received we will analyze the property and send you an offer. The amount we offer will vary depending our valuation of the property, back taxes owed, liens, judgments, etc.

 

What will you do with my parcel or property?

It depends on the property. We will do one of the following:

  1. Try to sell it to somebody on terms (they make payments over a number of years)

  2. Try to resell it for cash to an end buyer or one of our repeat buyers.

  3. Hold on to it to sell someday in the future.

  4. Lease it to somebody (we have never done this but could)

  5. Build on it. (Haven’t done this yet either but we're always looking for our perfect dream property)

There are back taxes on my land, will that be a problem?

No, (with 1 exception). If the back taxes owed are close to or more than the market value of the property we will not be able to make the numbers work.

 

My offer is lower/higher than I expected, is it correct?

Usually when we talk with sellers who thought their property was worth more it's because they weren't looking at market value.

 

Market value is based on the current market activity in that area for similar lots and vacant land (not for houses). If your offer is just a little lower than you thought, remember that we are investors, so there has to be some meat on the bone left for us to be profitable.

 

If the offer is substantially low, don’t take offense. It means that we either made a mistake (it happens) or comparable sales are very low in the area. It could also mean there have been no comparable sales in that area and selling it might take years or be impossible.

 

A low offer could also mean that holding costs (association fees & taxes) are relatively high.

 

We can’t risk spending a lot to hold a property we may never be able to sell. There are many factors we look at when determining if a property is right for us and at what price.

 

If you’re offer is higher than you expected, just take the money and run! In all seriousness, this typically happens when an owner acquired a piece of land many years ago and in that time the area has experienced tremendous growth. 

 

The lot/land is in my relative’s name (father, mother, grandparent, etc.), will this be a problem?

Sometimes. If the deed has both of your names on it, typically you can still sell it. A common example would be a spouse who has passed away and now you want to sell the land.

 

The title company will look at the specific situation and let you know exactly what you need to do to sell it. You may need to submit a death certificate or other documentation but it can be done if the circumstances are right.  

 

If your name isn’t on the deed, that’s another problem altogether. Unless the person whose name is on it is (1) alive, (2) able to be located, and (3) willing to sell, we wouldn’t be able to purchase the property.

 

Unfortunately in the State of Florida, if the property is in someone elses name (for example your dad’s name) and he passed away, ownership in Florida doesn’t automatically pass to you even if the will specifically says you get the property.

 

My understanding (and I’m not an attorney, please contact a professional real estate attorney for the final word on this) is that the property will still need to go through probate before you have official ownership and can legally sell it.

 

Do you need the original deed?

No. This is public record and the title company can get a copy.

 

What is a Warranty Deed and why is it important?

A warranty deed is a deed that guarantees or warrants that there is clear title on a property. Another common deed in Florida is a quit claim deed, mistakenly called a quick claim deed. This type of deed simply transfers whatever interest a person may have in a property to the buyer. It doesn’t guarantee that the buyer has any ownership.

 

For this reason, we use (and recommend) warranty deeds.

 

What is a land contract or contract for deed?

A land contract or contract for deed, is a type of financing that can be done between individuals. Let’s say you own a property and want to sell it to somebody for $20,000. Problem is, they don’t have $20,000. A land contract can be done in which you basically finance the property to them.

 

Maybe they put $1000 down and then make payments for 15 years. All the details of the deal are something you can work out between each other because you would be agreeing to the terms of the contract. At the end, when they’ve made all of their payments, they can take ownership of the land.

 

I’m nowhere near Central Florida. How does closing work?

The title company we use services the entire state of Florida. They offer a mail away closing and protect us both by acting as an escrow agent between the two of us.

 

That means they hold the money and deed. They don’t release any of it until they have my cash for you in their pretty little hand and your paperwork for me in their pretty little other hand.

 

Beware of anybody offering to purchase your property without using a title company, especially if your property is worth a significant amount! 

 

A title company’s job is to make sure all the paperwork is done correctly and to issue title insurance to the buyer. This protects the buyer from finding out later there was a lien or some other issue with the property so title insurance is something a buyer should want and possibly even demand.  

 

If they don’t care about it that should be a red flag to you that something isn't right.

 

Why should I sell to you?

Why not? Convenience. Simplicity. You get an all cash offer, we close quickly, and it can all be done without ever driving to a physical office.

 

The majority of our sellers simply don't want the hassle of a traditional sell with agents, financing, 8 page contracts, etc. It's just an easier and faster way to sell. 

 

What makes you different?

Unlike many of the other marketers out there trying to get land "under contract" so they can try to sell it before purchasing it (usually using an option contract with a 6 month or more closing date), we make our offers with a firm closing date. 

 

Our investors don't do options. We make offers and we purchase the properties. Period. 

 

We use escrow and a title company on every deal. 

No funny business. Just quick cash for your land. 

 

 

 

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