Henry McCracken had already tried selling his inherited properties with 2 different realtors – and both failed.
What to Do With Inherited Land?
Henry, his sister, brothers, and niece inherited several lots when his mother passed. Even though Henry lived nearby the properties, as the years passed he never used the lots or even went out to visit them. His siblings didn’t use the properties either. The lots were becoming a burden for everyone – trying to get the money together for property taxes each year was especially challenging. The time was coming for the group to sell inherited land.
Inheriting Land with Siblings
Henry and his siblings inherited a total of 6 acres in Torrance County, New Mexico.
There was nothing with these lots, per se. Out under the big blue sky in New Mexico, an hour or so from Albuquerque. Most of them had some sort of dirt road access, and you can see in the images above that one of them had power lines running along the boundary. So they weren’t totally worthless pieces of desert land, by any means.
The problem for Henry and his siblings was:
- No one used the properties
- Annual tax burden
- 2 realtors had tried, and failed, to sell the lots
Selling Inherited Land Without a Realtor
Henry and his siblings had listed these properties with 2 different realtors. Both times the real estate agents listed the lots for 90 days, and made Henry sign a 12 month commission claim.
This means even if the Henry found a buyer for the lots himself within that 12 month timeframe, he would still have to pay the realtor a commission – 5.59%!
So trying to use realtors costed Henry and his siblings 2 years of time. That’s 2 years of waiting around, hoping the lots would sell, and still having to pay taxes on them.
My team at Buy Your Land for Cash sent Henry a letter with an offer to purchase his properties – and he was immediately interested. He was ready for a new approach and was trying to figure out a way to sell his inherited land without using real estate agents.
Henry is a retired Military Policeman, and told us he did his due diligence about our company and who we are before calling. He said our experience and great reviews gave him the confidence he needed to reach out.
The key points Henry loved about our process:
- No realtors or commissions
- No worries about documents
- Cash in hand fast
How to Sell Inherited Land
After speaking with Henry, we together decided that it would be best to do a direct close. That means my team here at Buy Your Land for Cash handles all of the paperwork, property transfer, and sending Henry his payment. We chose that route instead of a title company because it was the faster option.
We took care of all the documents required for selling inherited property, and in less than 2 weeks, Henry had his cash in hand.
Henry’s Result
We had a pleasure getting to know Henry throughout this process. We’re happy to have been able to help him with his land burden! You can see Henry’s full review below. Looks like we get a free lunch next time we’re in New Mexico. 😊
Mr. McCracken here to thank you for the speedy transaction concerning your purchasing of the lots that were left to myself, sister, niece and two brothers as part of the estate that was left when my mother died.
Before I received your letter of interest in the property, it had been listed with two real estate agents, who listed the lots for ninety days each with a twelve month commission binder on any sale within the twelve months.
I am happy to have made your acquaintance and having been a Military Policeman for the majority of the time that I served I did a lot of basic research into your company…The DEARBORN Michigan B.B.B. rates your company as A+ and not a complaint on file.
This transfer of ownership went so smoothly that it is almost impossible to believe it is signed…sealed…and the money is in the bank a lot sooner than I expected.
Once again…I want to thank you for all you have done for me. I can close out the estate
now and also if you are ever out this way, call, lunch will be on me.
— Henry McCracken, New Mexico Land Seller
