In
order for USALANDSALE, LLC to sell property at auction,
it must first have an ownership interest in the real
estate. The required interest may be either legal title
or equitable title. We are unable to sell real estate
for others, as we are not state licensed real estate
brokers or state licensed auctioneers. The only properties
we may sell are those which are owned by USALANDSALE
LLC. Therefore, in order to offer your property for
sale at one of our auctions, we may proceed in one
of three ways.
First, we may purchase the land outright from the
property owner. Upon a satisfactory market evaluation
of your property, which will include review of all
applicable zoning and land use restrictions, a thorough
price analysis and reviews of all other applicable
legal and financial requirements, we will pay you cash
for the property. Or, upon acceptance from the property
owner, enter into an installment contract to purchase
the property over a set period of time.
Second, the property owner may extend an exclusive
option to USALANDSALE, LLC to purchase the property.
In this method, the property owner gives USALANDSALE
equitable title to the property through an option contract
which may be exercised by USALANDSALE at a set price
during a set time period. USALANDSALE then offers the
property at auction. Upon a successful sale, USALANDSALE
will then pay the option price to you to receive title
prior to the closing with the end purchaser, or, if
feasible, through a coordinated closing with the end
purchaser.
Third, we may enter into a joint venture (“JV”)
with the property owner to market and sell the real
estate at our auctions. In this scenario, the title
owner determines a price it wants to receive for the
land (the “basis price”). The owner then
signs a short term JV agreement with USALANDSALE LLC,
whereas the land is placed into the JV at its basis
price. USALANDSALE LLC is responsible to market and
promote the property at a future USALANDSALE auction.
When and if the property sells, the payback of the
proceeds is as follows:
1. Payback of the Basis Price to the Owner
2. Any proceeds in excess of the price are split 50-50 between USALANDSALE
and the Owner. (NOT including any buyer’s premium or closing fee.)
3. USALANDSALE is entitled to the entire Buyers Premium and any closing fee.
4. In the event the property does not sell for the minimum basis price, or
in a reserve auction meet the reserve, both JV partners will have no further
obligation to the other and unless extended, the JV agreement shall expire.
For example, Mr. Smith owns a property and wishes
to enter into a JV with USALANDSALE. Mr. Smith would
first establish a basis price he wishes to receive
for the property. In this example, that basis shall
be $5000. At our auction, the property receives a winning
bid and purchase price of $12,000. At closing, USALANDSALE
will assess a 10% Buyer’s Premium and closing
fee to be paid by the end purchaser. After a successful
closing on the property, Mr. Smith will receive a check
for $8,500. This includes the $5,000 basis price plus
$3,500 net profit, which represents ½ of the
winning bid amount over and above the basis price ($7,000
x ½). USALANDSALE will receive $5,295 which
represents ½ of the net profit, the 10% buyer’s
premium and the closing fees (usually $595). The Joint
Venture would then expire. It should be noted that
this method will usually provide the highest return
for the seller.
The Owner must provided title free and clear to the
end purchaser, the property must be legally subdivided,
and include, if applicable, any public report which
might be required in the State where the property is
titled and the State where the property is sold. If
the owner does not have a public report prepared, USALANDSALE
may provide this report for a nominal fee. The Owner
is responsible for all maintenance costs associated
with the land through closing, including the payment
of real estate taxes, assessments, transfer fees, dues,
insurance, etc. USALANDSALE is responsible for all
marketing and promotional fees and costs and will handle
all paperwork associated with effectuating the sale
between the Owner and the ultimate buyer.
To receive an evaluation of your land, please contact
one of our property acquisition specialists immediately
at 1-866-400-BIDS (2437) or complete and "submit" the
form at bottom of this page.
Fill out as much information
as you can and click 'Submit'. One of our representatives
will reply to you ASAP.
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If you received a postcard
or letter in the mail, please use your parcel ID number
located on that document, and fill in the empty fields
below. The information you supply will assist our land
inspectors to inspect and value your property, and
there-after we can make you a purchase offer. Please
feel free to provide any additional information that
would be helpful, such as neighborhood characteristics,
climate or distance to nearby attractions, etc.
If you have not received
a postcard or letter, but found us on the web and are
an owner and potential seller of raw land, please complete
the information sheet below and we will be in contact
with you.
(*)
denotes a required field
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