Land liquidation sales can be a great opportunity to buy a prime piece of land at a great price. Like any large purchase though, you need to do your research. When dealing with a reputable company and an honest and professional land consultant you’ll find land liquidation sales are the best way to purchase land at prices that can’t be beat. Keep reading to learn exactly how land liquidation sales work, how to research and prepare to attend a sale, and what to expect when attending a one-day land liquidation sale.
Land liquidation sales are one-day sales where a set group of properties are sold. Buyers have set appointment times to view the properties, which are sold on a first-come, first-serve basis. While there are some companies that you may have heard horror stories about (i.e. high-pressure salesman, bait-and-switch properties, or even land that can’t be built on), there are many reputable companies out there that provide a great experience and quality pieces of land at unbelievable prices.
The key to finding a reputable land liquidation sale company, like any purchase, is research. A reputable company will be well-established and easy find and contact. Be weary of any company that doesn’t provide company information or an address and phone number on their website. A reputable company will welcome phone calls and will be able to answer any questions you may have. When calling about the sale, a reputable company will gladly share details of all properties included in the sale along with property sizes, price ranges, and unique property features.
You’ll also want a guarantee (don’t we all?). Make sure the company you are working with guarantees their properties are buildable. A reputable company will have the properties surveyed in advance of the sale and will have necessary information about building, running utilities, and other important information about the properties included in the sale.
The first step to attending the sale is to call and set up your appointment. Since land liquidation sales are not auctions, you have to schedule an appointment for the day of the sale. While you are scheduling your appointment, look for a company that provides professional land consultants. A reputable company will provide consultants that are knowledgeable and honest whose goal is to make sure you show up on sale day knowing exactly what to expect.
Since the sales are typically advertised with one or two properties that best represent all the properties available on sale day, this consultant is key to a good sale experience. A good land consultant can answer any questions you have about the sale, as well as give you information on all the properties that will be included in the sale while helping to guide you to the piece of land that is the best fit for your needs.
On sale day the properties will be first-come, first serve and the sale will be booked with other buyers also looking for their dream property. So the more prepared you can be to find your lot and scoop it up before you get there, the more likely it is that you’ll get the land you have your heart set on when sale day comes.
On the day of the sale you’ll arrive for your appointment at the meeting place provided by the company and be assigned a personal sales guide. This representative will provide a map of all the properties included in the sale and will serve as your tour guide taking you to the properties you’d like to look at. When you find the property you want and are ready to purchase, they will notify the sale leader that the property is sold and provide your name. While some companies only pay these representatives a commission on sales (causing a high-pressure buying experience), a reputable company will provide sales representatives that are paid regardless of the sale, which makes for a more pleasant buying experience
From the first call, to the first time meeting with Compass Realty they were very professional and very knowledgeable about the area where the land was located that we purchased. They kept us up to date with emails and phone calls to make sure were aware of the auction date and time.
It was a wonderful experience, though being new to the auction world and having to make a fast decision to buy or not, we felt like we made a wise choice with the land we bought. Compass Realty was very experienced with buying and selling land and had the contract ready to sign when we were ready to buy.
As we mentioned above, land liquidation sales are typically buzzing with buyers all looking to find a great property at a great price, and that means properties sell quickly. Make sure you go into the sale with an open mind and have a few properties that you may be interested in. If the property you had your eye on is already sold, have your sales guide show you other properties that might end up being even more perfect for you! Some buyers attend multiple sales before they purchase their dream property.
Now that you know how land liquidation sales work, how to find a reputable land liquidation sale company, and what to expect when you attend a sale, we hope you feel more confident than ever to go out and find your dream property! If you’d like to learn more about Land Liquidation Sales, or if you’re looking for your dream property in North Carolina, contact Compass Land and Real Estate today for a free, no-pressure consultation.