When most people think of North Dakota, they envision the prairie grasses and spectacular scenic views that define the state. For some, the image of buffalo and a strong agricultural industry may come to mind. But, there is much more to the Land of 10,000 Lakes than just that. The state’s flora and fauna make it a great place to hunt big game like elk, moose and deer as well as smaller critters like pheasants and grouse. Additionally, the state’s fertile soil makes it a place to grow crops like wheat, barley and soybeans, as well as raise livestock like cattle, horses and chickens.
When individuals want to sell a piece of vacant land in North Dakota, there are several options available to them. For some, financial circumstances force them to liquidate their property for cash quickly – whether they have fallen behind on their property taxes or lost money on the stock market. Others inherit a piece of land they no longer have any use for and need to get rid of it fast. Still, others simply bought their land with a long term strategy in mind and realize they are not going to follow through with the original plan, making it necessary to sell the property for cash.
The process of selling a piece of land in North Dakota begins with finding the right buyer. This can be done by either listing the property with a real estate agent or advertising it yourself. For those who prefer to take the DIY approach, there are a few tips to consider. For one, a clear description of the property is important in order to attract buyers. It should include the legal description of the land, purchase price, personal property items included in the sale (i.e., stoves, refrigerators), rights reserved by the seller, etc.
In addition, a buyer should be ready to close within a reasonable time frame. This typically involves signing all the documents and having them notarized. The closing can take place in a lawyer’s office, real estate agent’s office, neutral location or at the home itself.
Closing costs include title insurance, the transfer tax and lender expenses. These fees can be substantial and should be taken into account when calculating the final sales price of the property. It is also important to note that a property’s owner must reveal the full consideration paid for the property to officials responsible for administering the county’s property tax.
For those looking for a Quick land sale in North Dakota, working with a reputable company that buys properties in any condition is the best option. These companies have the experience and resources to close quickly and can often avoid the need for inspections, appraisals or other delays. However, there are some drawbacks to this approach, including not being able to get the full market value for the property. If you have any questions about selling your property, a qualified local real estate attorney can help.