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Who Pays When Selling Land In Savannah

Jun 15, 2021

Are you considering selling land in Savannah? In that case, you probably want to know who pays when you sell land in Savannah. The answer is surprising.

When people think of selling land, they imagine handing over the deed and accepting a check. It makes sense. Initially, you might think the buyer pays the seller. But that’s not really how it works and you may be surprised at who pays when selling land in Savannah…

When you’re the seller, you’ll have to pay first! You will probably have to pay for a survey or a site analysis, or for a geologist to assess the potential of your property.

Next, you’ll work with an agent to try and sell the house. You’ll probably have to cover additional expenses while the agent finds a buyer. In the months that the agent is looking for a buyer, for example, you’ll have to pay your mortgage, bills, taxes, and insurance.

You might have to work with a lawyer, a title company, and possibly others when the agent finds a buyer. YOU are paying for all of this the entire time.

When all the paperwork is completed, you’ll get your money (after you’ve paid off your mortgage and taken care of any liens). Cash buyers might pay for the properties out of their own pockets, while mortgage buyers might borrow the money from their bank.

You haven’t finished paying yet! In the end, you’ll also have to pay the commission to the agent… which is typically paid by you.

The answer to the question, “Who pays when selling land in Savannah?” is that you’ll pay over and over again, while the buyer or their bank will pay you once.

Increasing numbers of sellers are realizing that this is not the best way to sell, especially if you do not have the cash in hand to cover those expensive up-front costs. Even though it might not result in the price you’re asking for your land, it’s no wonder so many sellers are looking for a quicker way to sell land – by getting a fast cash offer and skipping all of the above expensive and complicated steps.