Warning: mysql_query(): Access denied for user 'root'@'localhost' (using password: NO) in /home1/bea6118/public_html/webuylandandtimber.com/wp-content/plugins/astickypostorderer/astickypostorderer.php on line 166

Warning: mysql_query(): A link to the server could not be established in /home1/bea6118/public_html/webuylandandtimber.com/wp-content/plugins/astickypostorderer/astickypostorderer.php on line 166

Warning: mysql_query(): Access denied for user 'root'@'localhost' (using password: NO) in /home1/bea6118/public_html/webuylandandtimber.com/wp-content/plugins/astickypostorderer/astickypostorderer.php on line 203

Warning: mysql_query(): A link to the server could not be established in /home1/bea6118/public_html/webuylandandtimber.com/wp-content/plugins/astickypostorderer/astickypostorderer.php on line 203

Warning: mysql_query(): Access denied for user 'root'@'localhost' (using password: NO) in /home1/bea6118/public_html/webuylandandtimber.com/wp-content/plugins/astickypostorderer/astickypostorderer.php on line 231

Warning: mysql_query(): A link to the server could not be established in /home1/bea6118/public_html/webuylandandtimber.com/wp-content/plugins/astickypostorderer/astickypostorderer.php on line 231
We Buy Land and Timber – should I sell my land

Should You Sell Your Land: Part 2

Should You Sell Your Land for Cash?

In our last post we discussed a couple of things to consider when trying to decide whether or not to sell your land.  In this post, we are going to go into the big elephant in the room…the money!

1.  Cost of owning the land.  Owning land is not without costs.  If you have a mortgage on the property, then obviously there is the cost of making principal and interest payments.   If you don’t have enough income coming in  from the land then these payments have to be made from other funds.

2. Property taxes.  Aargghh! Property taxes  are often forgotten when it comes to holding onto land and can be a big cost of ownership.  Depending on the location and the zoning, property taxes can cost as much as 2 percent of the property’s value.  Taxes are a sunk cost and do not add value to the land.

The ongoing cost of property taxes can be burdensome and may help spur you in your decision to sell your land.

3. Your financial situation.  Do you need money now or sometime in the near future?   Remember…land is not a liquid investment.  You can’t just snap your fingers and produce cash from your land today.  Property can sometimes be difficult to convert to cash in a timely manner (not always but it CAN be difficult and can take a long time).  If you are in need of cash, you may be better off converting your land investment into something that is easier to get your hands on–such as stocks, bonds, money market funds, etc.

If you need money now, you should consider a cash sale.  If you don’t need all the money now, you could  offer to provide some owner financing to a buyer–thus providing you with a steady stream of income.

If you are tired of the costs of owning your land and you need to sell to raise cash, please contact us at www.webuylandtimber.com and we can help you.