Are you contemplating the sale of land for cash in the Atlanta area? If this is the case, you may be wondering about a frequently asked question: who pays when selling land in Atlanta. The answer will be revealed in this article, and it will surprise you.
If you’re thinking about selling land for cash, you probably picture yourself handing over the deed and accepting a check for the property. It all makes sense. At first glance, it appears that the buyer is responsible for paying the seller. In reality, however, this is not how things work, and you might be surprised at who pays when selling land in Atlanta….
Who pays when selling land surveying?
If you are the seller, you will be required to pay first! For a survey or a site analysis, or for a geologist to examine your property and tell you what potential it possesses, you will almost certainly have to pay a fee.
Afterwards, you’ll collaborate with a real estate agent in an attempt to sell the property. There will almost certainly be additional expenses that you will be responsible for while the agent attempts to find a buyer for your home. As an example, you’ll be responsible for paying any mortgage or other debts, bills, taxes, and insurance premiums on the property during the time the agent is looking for a buyer.
When an agent locates a buyer, you may be required to collaborate with a lawyer, a title company, and possibly other professionals in order to complete the paperwork. Yes, you are the one who is responsible for all of this at all times.
Once the paperwork is completed, you will receive the money for the property (after your mortgage has been paid off and any liens have been removed from the property). It is possible that the money will come from the buyer themselves (if they are paying in cash), or that it will come from the buyer’s bank (if the buyer had to get a mortgage to buy the properties).
However, your payment obligations are not yet complete! When it’s all said and done, you’ll also have to pay the commission to the real estate agent… and that is usually paid for out of your own pocket.
For this reason, in order to answer the question “who pays when selling land for cash in Atlanta,” the answer is that you will pay multiple times, while the buyer or their bank will only pay you once.
A growing number of sellers are realizing that this is not the best method of selling, particularly if they do not have the cash on hand to cover the high up-front expenses. Sure, it’s exciting to take a chance on a higher selling price (even if you don’t get exactly what you’re asking for the land); it’s no surprise that so many sellers are looking for a faster way to sell land – by receiving a fast cash offer and skipping all of the time-consuming and expensive steps outlined above.