There is no time like the present. Many sectors of the economy may be uncertain, and the demand for real estate of all types is no different. Moreover, while you may have entered the property with an exit strategy planned out, life has a way of changing things, and savvy investors understand that plans may need adjustment from time to time.
If you own land and you’re reading this, it is highly likely that selling your land has crossed your mind from time to time as a solution to many different needs or wants in your life. So read on as we explore three reasons why now is the time to sell your land in Columbus.
Higher Returns
If you’ve stumbled upon an investment opportunity that will allow you to realize higher returns on your investment dollar, or maybe you’re ready to find an investment property that will do so, then now is a great time to sell your land in Columbus. Then, you could take advantage of the 1031 exchange tax laws, purchase another investment property of like kind for an equal or greater value, and avoid costly penalties. You’ll save time by selling directly to a professional investor like those at CMJones Homes with your guaranteed closing in just days. After all, the clock is ticking when utilizing the 1031 exchange laws.
Cash Out
If you’re ready to begin checking a few things off on your bucket list, then now is the time to sell your land in Columbus;. For example, maybe you’ve always imagined owning a special asset such as a luxury sports car or boat. Or perhaps it’s time to begin your RV journey across the country to visit friends and family. Why not start relaxing right now? Keep in mind that you need to pinpoint the value of the land accurately because those seeking land are a small and specialized pool of buyers who know how much land they can purchase for the amount you’re asking. An error in either direction can cause your land to linger on the real estate market and inevitably equates to a lower final sales price. For example, what are the building codes for your area? Are Is there public or private water and sewer sources? Those types of details matter on determining the value of your land. Our passion is helping investors realize the highest profit at CMJones Homes while we help you solve your problems. The professional investors at CMJones Homes will help you value your land and detail how much you would earn by listing vs. our offer, which you’ll agree is fair. You’ll save yourself a great deal of stress by selling directly to a professional investor like those at CMJones Homes for cash; you’ll avoid all of the tensions of waiting for a buyer, avoid the hassles and costs of listing and live the dream or take off for horizons unknown.
Financial Need
Even though there aren’t any improvements on your land, there are still plenty of costs associated with holding property, such as taxes and any vacant land insurance you may carry. If the property is within an HOA, you’ll also be paying fees to the association. You also may also need to keep the property mown and clear of rubbish or pay penalties depending upon the zoning. Another issue that can arise with vacant land is the unexpected actions of others, such as illegal dumping of toxic materials that cause an environmental hazard, which can be extremely costly. So while you may be willing to sell at a lower price to hurry the sale along, remember that setting the right sales price on real estate from the start can have a significant effect on the outcome. With the price too low, buyers will likely suspect a hidden problem with the ground and pass on the listing. You may also find that your financial circumstances have changed, and cashing out of your land will give your bank account the boost to resolve your issues. Finally, you’ll save money by selling directly to an expert like the professional investors at CMJones Homes and avoid paying costly real estate commissions or closing costs.
Changing Times
While no one can dispute that it’s a seller’s market when it comes to selling your home right now, times are changing rapidly. There are lot’s of headwinds when it comes to the real estate prices appreciating whether it be a high probably of recession as we enter the second half of 2022, the highest mortgage rates in over a decade, and sellers starting to panic sell. The intention of this is not to fear monger, but to give sellers of real estate a realistic view on where their potential buyer pools is at right now and adjust their expectations accordingly. Not saying that a crash is coming, but demand is for housing is decelerating, quickly and even more so the demand for undeveloped land. It’s in a seller’s best interest to find a buyer for their land while the market is still hot.
Discuss your situation with us at CMJones Homes and we can help you determine if now is the time to sell your land in Columbus. At CMJones Homes , we want you to make a fully educated decision that you are happy with long after leaving the closing table; we lay out all of the details, allowing you to see the numbers yourself. If you would realize better returns through a conventional listing, the pros at CMJones Homes will tell you so. At CMJones Homes , we live and work here in Columbus, and we care about our neighbors. And if you’re seeking investment property for higher returns, a professional investor like those at CMJones Homes can help you locate your next property. Don’t forget to ask about the current inventory at CMJones Homes of the best investment properties available in Columbus. Contact CMJones Homes at (614) 360-9306.