
Frequently Asked Questions
Selling your property is a big decision, but it doesn't have to be a difficult process. We aim to make each transaction fast, easy, and fair. Read on to learn the answers to some of our most frequently asked questions (the questions in the top section are links).
1) I've heard about so many scams lately. Is LandLoop Group a legitimate real estate operation?
Absolutely. We are a legitimate and trusted group of real estate professionals with a simple business model: we buy off-market land directly from property owners. We are not fly-by-night investors, and we do not practice questionable, unconventional, or sketchy acquisition methods. We play by the rules with integrity as a top priority. Our goal is to make each transaction fast, easy, and fair, and we pledge to be clear, honest, and transparent in our communications and dealings with all property owners. Lastly, we always use a reputable title company or real estate attorney to coordinate each sale in order to protect all parties.
2) Are your offers fair?
The short answer is yes. The long answer is... our offers are fair, but we generally do not pay full retail prices for the land we buy. We strive to be a fast, easy, and fair solution for selling your land off-market without Realtors. If your goal is to sell fast for a fair price, then you will be happy with us! If your goal is to sell on the open market for full retail price, then we are probably not a good fit for you.
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However, it's important to consider the 3 main challenges to listing and selling on the open market:
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Realtor commissions, closing costs, and attorney's fees can easily add up to thousands of dollars, which reduces your profit.
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Vacant land usually takes much longer to sell at retail prices, which increases your holding costs.
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It is much more difficult for non-cash retail buyers to obtain financing for vacant land.
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When you sell to us, you won't have to deal with any of these challenges.
3) You are an off-market buyer. Wouldn't it be better if I just list my land for sale with a Realtor?
It depends on your goal. Read the answer to #2 above. The benefit of selling to an off-market cash buyer like us is that we will make the sale process fast and easy for you without involving a Realtor, and without having to wait for a "retail buyer" to come along. Realtor commissions, closing costs, and attorney's fees can easily add up to thousands of dollars for a seller, which reduces your profit from the sale. Furthermore, compared to other property types, vacant land typically takes longer to sell on the market at retail prices, and it is also more difficult for non-cash retail buyers to obtain financing for vacant land.
4) I received a letter of intent from you. Is this a binding contract?
No. We do not send binding contracts through the mail because regular mail is not secure. In real estate, a letter of intent (LOI) is a non-binding agreement that outlines the proposed terms of the transaction. By sending you an LOI, we are telling you that we are interested in purchasing your land at the offer price specified in the letter, but it is not an official purchase agreement. After receiving our LOI, if you are interested in selling your land, you would simply let us know that you would like to move forward (via mail, phone, email, or website), and we will contact you to discuss next steps, which would include signing an official, binding purchase agreement through secure means.
5) How did you determine your offer price?
Our valuation process is simple and transparent. First, we examine recent sales of similar properties in your area and forecast market trends. Second, we assess the demand for land like yours and estimate the marketing efforts and costs required to connect with a final buyer. Last, we factor in a modest profit for our company. This formula gives us the offer price.
6) There are multiple owners of the property. Do I need their permission to sell?
Yes. All of the property owners must agree to sell the property and sign the Purchase Agreement in order for the contract to be considered binding. Any person or business entity listed on the deed or title is considered an owner of the property.
7) Are you really able to buy my property with cash?
Yes. All of our acquisitions are self-funded with liquid funds (cash) sourced from within our own group of investors. This means there will be no lenders to deal with, and no financing delays.
8) How fast can you close, and who pays the closing costs?
Generally, we can close in 30 days or less after the official purchase contract is signed. In rare cases, we may need more time if we find an issue that needs to be corrected prior to sale.
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We pay all typical closing costs associated with the sale, including the fees charged by the title company / closing attorney to coordinate the sale.
9) Are you a wholesaler?
No. We are not a wholesaler and we do not assign our contracts to any other investors. What you see is what you get with us. There are no tricks up our sleeves.
10) Can I sell my land AS-IS?
Yes. All of our acquisitions are as-is sales. We will never ask you to make changes or improvements to your land before sale.
11) I inherited my land / I've never seen my land. Will you still buy it?
Yes. After we enter into a purchase contract with you, we will ask a short and simple list of questions regarding your land. Some property owners don't know anything about their land, and that's ok. We will do our own due diligence to verify the things that are important to us.
12) I've received similar letters from others trying to buy my land. What makes you different?
Transparency, honesty, and integrity. We do not pretend to be anything other than what we are. We are not retail buyers. Hopefully, if you read all of our previous answers, you understand that we offer a land-buying solution which works for many property owners, but not for others. And furthermore:
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We do not send binding contracts through unsecure mail.
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We always use reputable title companies and real estate attorneys.
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We are not deceptive.
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We do not try to convince you that our offer price is full retail value.
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We are responsive.
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We are real people.
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We are experienced and know how to get the deal done.
13) All of this sounds good to me. How can I officially accept your offer?
Simply contact us to let us know you're ready to accept. You have several options to do this:
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By phone: Call our team at 985-771-1149.
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Online: Submit the Respond to Our Letter form on our website.
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By email: Send an email to offers@landloopgroup.com
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By mail: Sign the LOI and mail it back to us at 330 Oak Harbor Blvd., Suite B #1040, Slidell, LA 70458
After you let us know that you're ready to accept our offer, we will reach out to discuss next steps, which will include the signing of an official and binding purchase contract.