There are many reasons why you would want to sell your land, and you have different options for selling. You could use a traditional real estate agent, you could try to sell your property by owner, or you could sell your land fast in Ontario to an investor.
Sell Land Fast Ontario – 5 Things You Should Know About
Understanding the Buyer
Professional land buyers in Ontario typically close faster than traditional land buyers, and usually pay full in cash. Traditional land purchases usually require qualifications from banks, mortgage underwriting time, property inspection time and the buyer may not end up qualifying in the end. There are also no commissions paid to a buyer’s or seller’s agent which means thousands of dollars in savings.
The usual commission is 2.5% per side, so if you sell your land for $200,000, you would have to pay $10,000 in commissions alone! Plus another $1,300 in HST. Professional land buyers also will not charge transaction fees and there won’t be extra HST either.
No Preparation Necessary
Professional land buyers in Ontario will usually purchase lands as-is. As a seller, this means you do not have to worry about any upkeep before closing or any other additional expenses you were not planning on. Selling to a Sell Land Fast Ontario investor, cuts costs and time to put the land up for sale.
Sell With Confidence
When you decide to use a professional land buyer in Ontario, you will not have to worry about going through a roller coaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your land. You don’t have to worry about driving out to your property for a showing to sell land fast in Ontario.
You don’t have to worry about possibly running into a buyer’s agent or their clients or dealing with them asking you questions that you really shouldn’t answer anyway.
Selling to a professional land buyer is extremely straight forward. They will layout every step of the process and usually have shortened, very clear contracts that are simple as-is purchase agreements. You will also have lessened exposure to legal risks. You won’t have to worry about the buyer finding something you didn’t know you didn’t disclose or something they don’t like about the land or the neighborhood.
Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. Professional land buyers already know the state of the property, and they are willing to take on that risk.
Land is Different
Selling land fast in Ontario to an investor is very different than if you were selling a commercial, multi-family or single-family residential property mainly because there is no building. Land is a very simple property to deal with. Most Ontario investors won’t even drive out to the property because all of the information they need is available online.
They may or may not have a survey completed to verify the property lines, and they will most likely prefer that no improvements have been made, such as fences or sheds. These properties are perfect for investors because they can build the property to fit whatever plans they have. Land transactions can be as quick as a few days when you sell directly to GTA House Buyers!