How To... in 33872>Question Details

K, Home Seller in Florida

I have 8 lots in sun n lakes, sebring, fl we need to sell them fast what do you recommend

Asked by K, Florida Thu Aug 7, 2008

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List them with a local Realtor and set your prices low!
1 vote Thank Flag Link Fri Aug 8, 2008
Depressed market means low values... you can sell always at the right price but it will be less then what you bought them for... If it is a probate issues. Just sell and be done with them.
0 votes Thank Flag Link Thu Jul 17, 2014
I agree with what you have already been advised. Lots just aren't moving yet so if you can hang on a little longer that may turn around. Investors right now are really making low offers so if you really need to sell please contact me!
0 votes Thank Flag Link Thu Jul 17, 2014
Price sells property in today's economy. Most people aren't building right now because of the surplus of inventory, therefore lots are being bought by investors. Investors buy low.
0 votes Thank Flag Link Thu Sep 1, 2011
K, it doesn't seem to me that any of these answers were practical in your situation. List them with a Realtor, set a low price, hope you bought right, huge inventory, hold them for a year... blah, blah, blah. The reality is the Florida real estate market is crap, and land in a crap market is even crappier (excuse the french).

You probably need money NOW, so you will have to target investors, not retail buyers or builders. Consider selling an option on your land to an investor who is bullish on the next couple years in the Florida market. Basically, selling an option is selling the right to buy your land at a set price, within a specified period of time. They are not obligated to buy, but can within the time period (they are betting the prices will increase over time). You get the "option fee" up front, in cash, and if they buy in the future, you're cashed out, if they don't the option expires, and you still keep the fee and the property (and could do it again). $$ have to be in line with values, but this strategy puts needed money in your pocket.

Most 1-4 Family P&S contracts have sections for option periods and you can use that. Title company can help you with the rest.

Good luck. In this market it's time to get creative!

Tony Z
Web Reference: http://www.ITFtraining.com
0 votes Thank Flag Link Fri Nov 19, 2010
i buy lots in sebring you can email me at landlot1@gmail.com E.Neman
0 votes Thank Flag Link Fri Nov 19, 2010
As others have already indicated, lots in Sun 'N Lake are plentiful and still priced too high. Hold on to them
for the next year and let's see what happens with the market.
If you can afford to take a loss, list them at a VERY cheap price and we'll see what we can do.
Thank you for your question -
Trisha Banis - Midflorida Real Estate Sales
Sebring
0 votes Thank Flag Link Mon Aug 17, 2009
There is a huge amount of unsold lot inventory and the only people buying them want a deep discount because its a long-term investment.

If you need to sell them fast, I would contact a full time certified real estate auctioneer. There are several I know who work that market and can give you a referral if you are interested.

BUT - The only way any auctioneers, myself included are accepting building lots for auction is if they are to be sold absolute, with no minimum and no reserve price.

If you have owned these a long time and bought them "right" years ago then you probably will not be selling at a loss. I can guarantee they will not bring what they would have at the peak of the bubble
Web Reference: http://www.paxauctions.com
0 votes Thank Flag Link Fri Nov 21, 2008
Now is not a good time to sell lots, especially if the lot is in Sun'n'Lakes. I've had one realtor in my office recommend to simply give lots back to the district in order to at least get around having to pay for taxes and assessments annually.
0 votes Thank Flag Link Mon Nov 17, 2008
There are almost 400 lots for sale in Sun N Lake (that's only what is in our Multiple Listing Service). It doesn't count all the "For Sale By Owners" lots. A lot will depend on where the lots are, whether the assessments are up to date, if there is a bond on them and most of all how they are priced. Now is not a good time for lots. I work at the real estate office in Sun N Lake and can tell you we rarely have anyone calling in asking about lots. Even at a very low price, I wouldn't plan on them selling quickly with the market as it is.
0 votes Thank Flag Link Fri Aug 8, 2008
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