You want to sell your land and are comparing land buyers in Tennessee. How do you know if a buyer is a great land buyer or a bad one? Thanks to Google and the internet you can do a boatload of homework on just about anything or anyone! Check reliable rating sources to see what other people have said, see if they are active on social media, how does their website look? What types of properties do they tend to purchase?
Great land buyers will offer a quick closing – sometimes as quickly as two weeks. They will offer to pay for your land in 100% cash, but may also use other types of payment depending on the situation. Bad land buyers are difficult to get reach, they may offer a quick closing but continually delay or do not return your phone calls or emails. If they do close, they may require to be qualified for a loan first, and hopefully, they can make the final closing. Typically great land buyers will also not need to renegotiate unless unforeseen circumstances arise or hidden facts are uncovered. Bad land buyers may try to lower the price, maybe even multiple times.
A great land buyer will have plenty of reviews, mostly positive. We all understand things happen, and sometimes people make mistakes, so there may be some negative reviews mixed in. This shouldn’t affect your decision too much at first, but make sure to read if the land buyer has responded to the negative reviews. If they did, how did they handle the situation? Do you agree with how they dealt with it? If you were the seller in that situation, would you have been satisfied? Also, don’t be afraid to ask around to people you know. Have your family or friends ever heard of this buyer?
Great land buyers are genuine and have a positive attitude about real estate and they follow through with what they say they will do. If you ask them to call you back at a certain time, they will do so consistently. They may talk a good game but they will back it up too! Bad land buyers will get you excited and let you down. They will set appointments with you, and never call you back or never even show up.
References are an important part of any business. A great land buyer will have multiple references available that you can contact to see how they do business, and they shouldn’t be hesitant to answer any of your questions. If they do, then this may be a sign they are a bad land buyer. Looking at their website, does it list reviews? Are the reviews situation-specific, or are they really general, “too good to be true” reviews that makes you wonder if their employees wrote them? Do they have a presence on social media such as FaceBook or other rating websites? What are their clients saying in their comments? Do they have public reviews to read?
A great land buyer will commit to a relatively quick closing date, anywhere from 2 to 3 weeks. They will stay in contact with the title company throughout the process. A bad land buyer may try to extend the closing date more than once, or ignore the closing date altogether. If a good land buyer is using financing, there will be very few items listed on the commitment letter. Bad land buyers will have multiple issues listed on their commitment, possibly questioning sources of funds and a sudden drop in credit score.