Investing in raw land is an attractive proposition but comes with several considerations. Before taking on this endeavor, it’s essential to carefully research a property’s title for any liens placed by previous owners; review zoning ordinances to ensure development is permitted; examine boundary lines to ensure there are no conflicts between neighbors; analyze environmental regulations regarding wetlands and other habitats that could be affected; and explore tax incentives from municipalities and states.
While Minnesota’s natural beauty is a major draw for potential investors, it’s important to note that a land investment typically takes a much longer time to close than a home sale. The land market is also more complex, making it challenging for unseasoned investors to break into without expert guidance.
One way to avoid these issues is to sell land to a local land company, which has the resources to quickly and easily facilitate the entire sales process. In fact, a reputable Minnesota land company like True North Land can make all-cash offers and close in less than seven days, which is a tremendous benefit for sellers who don’t want to wait on potential buyers to secure financing or go through the entire home buying and selling process.
The pros and cons of selling to a local pros and cons of selling land to a Minnesota land company include cost savings and the expertise, efficiency and convenience they provide. When you sell to a land company, you’re not paying a realtor commission, and they typically cover all fees related to closing the sale. This can save you a significant amount of money that could otherwise be used toward other costs associated with the sale.
A reputable local land company will have an established track record buying and selling properties in your area. As such, they’ll have a well-defined system for property valuation, marketing, sales and closings. Ask about their experience and request references to validate their reputation. Additionally, ask about their processes for vetting new clients and how they determine fair prices.
Land companies are also able to offer flexible terms for sellers and can provide the highest cash offer based on location, condition, zoning and access. As such, they’re an excellent option for those looking to get the highest value from their land sale.
Vacant land is an illiquid investment that requires patience for return thresholds to be realized. Working with a seasoned land professional helps high-net-worth individuals and institutions maximize their investment returns in the “Land of 10,000 Lakes.” Minnesota land experts like Land Boss possess on-the-ground property networks, deep ties with local brokers, owners and developers, and comprehensive knowledge of the state’s nuanced land market. This insight helps them align investments with targeted return targets and risk parameters.