Frequently Asked Questions
Search our FAQ for answers to anything you might ask
Show me the money!
Are there any fees?
There are ZERO commissions or fees when you sell to K1 Land. Unlike realtors charging up to 10% for land transactions, we don't charge you a dime. In many cases we can even cover your closing costs. Historically we have been able save owners up to $10,000. You may now be asking how we make money? Well, we get paid when the project is complete (selling the property after upgrades) or we will charge a fee to our investors for the project if we turnkey it to them.
What does it mean to sell for cash?
This puzzles a lot of sellers. We do not literally bring you a bag of cash. All of our transactions are completed through reputable lawyers or title companies with wire transfers or bank drafts. This proves to be beneficial for a seller because we do not have to wait for banks to finance the purchase. Instead, all of our purchases are made with a team of investors, meaning the money is available in full when you agree to sell. This allows us to close very quickly on your property and in many cases we can buy your property in under 7 days. As a seller you will not have to worry about offers falling through either (unlike listing with a realtor on the market). A sad fact is that over 70% of the offers on your market-listed land fall through because the buyer did not have the financing in place. K1 Land eliminates this worry and can be an excellent option for you, especially if time is not on your side.
How quickly can you close?
We have closed as quickly as 7 days! You choose your closing date. The average timeframe for a cash buyer to close on a property is typically 30 days, but it can be expedited based on your specific situation.
When do I get paid?
Generally, sellers receive their land sale proceeds on the same day that they close the deal. However, the exact time it takes to receive payment can vary depending on factors such as if you close remotely or request a check vs direct deposit.
but will I...
Do I need a lawyer?
The lawyer's role is to ensure that the necessary legal checks are made to ensure a clear title to the property and that property taxes are up-to-date. We can connect you with trusted legal professionals that represent your interests throughout the transaction and ensure that the sale is seamless.
Do I need to show my land?
In unique cases we may not even need to view your property to purchase it. CRAZY HEY!? But for us it really comes down to the numbers. If we are purchasing a property without viewing it first we will require that you send us pictures and give us a full description. If we do need to view the property we usually can do this within a few days and unless there's a locked gate, there's generally no reason for you to be there. In some cases, we may need to get a land survey or perc test which can push the timeline back.
and what if...
Can I sell my land if there is a lien?
Yes, it is possible to sell land with a lien on it. However, the lien must be addressed and cleared before the sale can be finalized. In many cases the lien can be paid from the proceeds of the sale. If you discover there is a lien on your property, you may wish to speak to a real estate lawyer to help you navigate the process of clearing the lien before selling the land. There are various payment options to clear the title, such as paying the debt upfront, negotiating the debt, disputing debt errors, and working the payoff into the sale proceeds. It is important to note that different types of liens may have different requirements for clearance, and legal advice may be necessary to ensure all requirements are met.
Can I sell if I am in foreclosure?
If you are facing foreclosure, you may still be able to sell your land privately. However, it is important to note that selling your property during foreclosure can be a complex process with legal implications. The most important thing before heading into foreclosure is to reach out for a cash offer. This way you can mitigate the loss and potentially save your credit rating.