A vacant piece of land can sometimes be more of a liability than an asset. There are plenty of reasons you might not want a parcel you’ve inherited, a property that you’ve fallen behind on the payments or land where outstanding liens make managing the property stressful.
Fortunately, there’s a solution. Tennessee Land and Timber Buyers will buy your unwanted vacant land for cash! Whether you’re hoping to release financial strain or looking to simplify your life, we can help. Read on to learn how you can turn your unwanted land into a valuable asset.
Situations That Make Land Ownership a Burden
Here are some common reasons landowners may consider land undesirable:
1. Inherited Property You Don’t Need
The worst thing that can happen to you as an heir is inheriting property that you do not need and perhaps do not even want. You receive the parcel of land and hear how good this will be for you financially. All of a sudden your life is full of problems regarding keeping up the property or paying property taxes and trying to carve out a place for it in your own life. You’d give anything to have that irrevocable pearl back.
2. Financial Struggles
Land ownership can be a huge financial burden especially if you have failed to make payments, hit with outstanding liens or have fallen behind on your property taxes. Paying late on any of your debts can end up accruing extra penalties and interest over time. You may also need to sell off the land if you need liquid funds to invest in other endeavors or to just cover expenses.
3. Life Changes
A major life change such as divorce may produce a contentious pattern of property division in which retaining land makes the situation more complex. By selling the land you can cleanly divide the property and ensure that both people are financially separated. Or, maybe you’re relocating to another location for a new job or to be closer to family – either way you might not want to retain rural property that’s not connected to your new life.
The Costs of Holding onto Unwanted Land
Holding on to unwanted land might have more serious consequences than you expect.
1. Ongoing Property Taxes
Every year without fail property taxes are due and payable. If you’re not using your land and don’t want to pay taxes on it, we can help! Avoiding paying taxes can accumulate penalties and interest and ultimately you end up losing your property.
2. Maintenance and Liability Concerns
If the land remains vacant, it still needs to be kept in order or it can become an eyesore or a hazard due to accumulations of weeds, trash, and other disturbances. Local governmental agencies can even fine the landowner for such infractions. Also, the owner could be sued if someone gets injured on the land.
3. Missed Financial Opportunities
Every dollar you spend on maintaining unneeded acreage is a dollar you could have spent elsewhere. As long as land remains unneeded, it represents capital that’s not being put to more productive uses – a business start-up, investment in equities or real estate, setting aside funds for a comfortable retirement and so forth.
How Tennessee Land and Timber Buyers Can Help
Tennessee Land and Timbers Buyers understand that it can be hard to own land you don’t need, that’s why we pay cash for your unwanted property to help you move forward. With access to current real estate data we can quickly provide you with a guaranteed cash offer and close quickly! One of the considerable benefits of working with us is our streamlined purchasing process: right from the assessment of the property to its sale, we take care of everything to ensure that you have a simple, fast and stress free experience. If you’re ready to be free from the burden of the land you don’t want, please give us a call. We are ready to guide you through the process and get you a cash offer on your land.