While a great deal of thought is involved in buying an investment property, the exit strategy is a crucial phase of ownership that investors must plan, as the wrong moves at this time can be costly. For example, avoiding taxes by utilizing the rules of a 1031 exchange allows you to reinvest the profits from selling your investment land with a like-kind exchange, following a strict timeline to qualify. Like-kind exchanges are properties of the exact nature, character, or class.
Whether it has reached the time in your original plans to exit the property or an opportunity has arisen that provides a greater return on your investment, you will find the following information very helpful. So read on as we explore how to sell your Richmond land and reinvest for higher profits.
In addition, as you are likely well aware, real estate investors should not purchase an investment property without walking the actual location. While you may not think of it with land, curb appeal still matters in selling a property. Knowing this, as the seller, you should walk your land before buyers appear, ensuring that there is no litter on the ground and the land looks as attractive as possible will help you sell your Richmond land and reinvest for higher profits.
Understanding Your Buyers
Understanding the data of interest to potential buyers will help you market and sell your Richmond land and reinvest for higher profits. As there is a limited buyer pool for land, you will want to invest in high-quality digital photography and pay the expenses to market your land online on sites that target this sector of the Richmond real estate market. For example, you should be able to provide interested parties with the specifics regarding road access, nearby amenities, zoning, and information about available services such as water, sewer, electricity, and internet access. Professional investors like those at RVA Home Buyers are intimately familiar with the local factors that govern the land and affect the value and are happy to assist you in accessing the information.
Equal or Greater Value
If you set your price right, it will help significantly, so you must know the value before selling your Richmond land and reinvest for higher profits. On the other hand, setting the price too high or too low can cause potential buyers to continue scrolling past your land listing because these tech-savvy buyers are very familiar with land valuations. Once you are aware of the value of your land, you can begin your search for your 1031 exchange property which must be of an equal or more value to qualify for the tax deferment. At RVA Home Buyers, our highly experienced professional investors can help valuate your land so you will know the current market value. Then we will make you a cash offer for your land that you will agree is fair. At RVA Home Buyers, we are your neighbors who live and work here in Richmond. Our professional investors work this way because we want you to feel good about the deal and working with RVA Home Buyers long after closing.
When it is time to sell your Richmond land and reinvest for higher profits, to fall within the timeline of a 1031 exchange, you will need to select three potential qualifying like-kind investment properties within 45 days. You will qualify for 100 percent tax deferment if the exchange is completed by day 180. Working with professional investors like those at RVA Home Buyers makes it easy to sell quickly, with closings typically in days. Then, let an experienced investor from RVA Home Buyers help you locate another Richmond investment property that will increase your profits. Years of networking provide our professional investors at RVA Home Buyers with an inside scoop on great deals. And RVA Home Buyers always has an inventory of every type of the best investment properties available in Richmond.
RVA Home Buyers
Want to sell your Richmond land quickly and easily and reinvest for higher profits? Why not work with the professional investors at RVA Home Buyers? At RVA Home Buyers, our professional investors never charge commissions, and you will never pay for closing costs. At RVA Home Buyers, we use simple contracts, and our method is straightforward, with no hidden fees and no surprises coming off the top at closing; the amount we offer is the amount you receive. At RVA Home Buyers, our professional investors understand that open and clear communication is the key to success, and it begins with listening. We will stop everything and listen to your concerns. When you work with RVA Home Buyers, your success is our success. At RVA Home Buyers, we will take the time to answer all of your questions, walking you through the process step by step with no obligation. Working with the pros at RVA Home Buyers will help you avoid expensive mistakes while saving you time and money. Ready to learn more? Contact RVA Home Buyers at (804) 420-8515.