FREQUENTLY ASKED QUESTIONS

 

What kind of land do you sell?

At Land22 Real Estate, we sell every kind of land. For example we sell land that is zoned residential, multi-family, commercial, industrial, agricultural, and recreational. We sell small city lots and large rural acreage. We sell lots on paved streets, parcels on dirt roads, and remote acreage. We sell land with limited value and land that is extremely valuable. We sell all kinds of land.



Are there any kinds of land that you don’t sell?

Yes. We do not sell land with structures on it such as houses, trailers, barns or locked outbuildings. As one example, we do not sell ranches with animals, homes and other farm buildings. We do not sell land in gated communities or behind private locked gates. We do not sell land with serious hazardous waste problems. Finally, since Broker Tammy is licensed in California, Arizona and Oregon, we do not sell land in other states or countries.



Do you sell houses or condos?

No. We sell land.



Do you sell commercial or industrial buildings?

No. We sell land, not buildings. However, we do sell land that is zoned for commercial or industrial use.



I’ve heard of residential brokers and commercial brokers. So which are you?

Tammy is a “land broker”.



Where are you?

Our California offices are in Los Angeles and San Francisco. Our Arizona office is in Scottsdale. Our Oregon offices are in Grants Pass and Lake Oswego. However, Broker Tammy works a widespread geographic area selling land in every county of those three states.



What does the Sc.D. after Broker Tammy’s name stand for?

Doctor of Science, similar to a Ph.D.



Is Broker Tammy a Realtor?

Yes. Broker Tammy is a member of the National Association of Realtors.



Is Land22 a real estate office?

Yes



Can I buy land listed by Land22 and have another Realtor represent me?

Yes. Or Broker Tammy can represent you, either way.



Do you cooperate with other Realtors?

Yes



How long has Broker Tammy been selling land?

Approximately 17 years



How did you come up with the name "Land22"?

Ths story is not terribly exciting and there is no deep meaning to the name! We wanted our company name to be the same as the name of the website and we wanted a short URL. The goal was to find something easy to say on the phone and simple for buyers and sellers to remember. The first choice for a URL was www.land.com but that was already taken. So then we tried www.land1.com, land2.com, land3.com etc. and all were taken. Roaming around the Internet, we stumbled upon the website www.orange22.com. We thought land22 would be an easy URL for clients to remember so we settled on Land22 Real Estate as the company name and www.land22.com as the URL.



What is the process of listing my land for sale with Land22 Real Estate?

Here are the four steps that most sellers follow: 1) Contact Land22. The fastest and most reliable way to reach us is by e-mail. Give us the assessors parcel number (also called the APN or tax identification number) and county where the land is located. Tell us anything you may know about the parcel. Also tell us about offers you have received in the past, if any. 2) We will do some research on your parcel. Within the next two business days, we will get back to you to share our research and advice on price. 3) If you agree to list at the price that we suggest, we will send you the listing agreement for electronic signature in DocuSign. We also need the signatures of any co-owners. 4) We will prepare marketing materials and begin marketing your property. When we receive an offer we will contact you and present the offer to you.



As a seller, do I need to make an appointment to meet you at the land to show you the corners?

No. We are expert at locating land (using longitude/latitude, aerial maps, etc.) and can find it without assistance.



Do I need to come to your office to sign the listing agreement?

No. You can sign electronically with DocuSign. DocuSign is easy to use and anyone can do it. You will sign by clicking. All you need is an e-mail address.



How long is the listing period?

Six months



Will Land22 accept listings for a period shorter than six months?

No



What is the likelihood that my land will sell?

Statistically, if you list with Land22 Real Estate then the probability that your land will sell during our 6-month listing period is just over 50%. Conversely, also based on statistics, if you list with another broker the probability that your land will sell is around 18%.



There are several other co-owners on my land. Will Land22 help me get all signatures on the listing agreement?

Yes. Land22 will send the same listing agreement to each co-owner in DocuSign. Each person can sign by clicking. Alternatively, we can send the listing agreement to one “head” co-owner who agrees to obtain the signatures of all co-owners and return the signed agreement to us.



Do all co-owners have to sign the listing agreement?

Yes



Can I sign for my spouse (or parent, or business partner, etc)?

No, not unless you have legal power of attorney



What is DocuSign?

DocuSign is an electronic signature technology that makes signing real estate listing agreements, offers and counteroffers much easier and faster for buyers and sellers.



What is the process of purchasing land through Land22 Real Estate?

Here are the nine steps that most buyers take: 1) Contact Land22 to discuss the offer you’re considering. The fastest and most reliable way to reach us is by e-mail. Tell us the price you’re thinking about offering, whether or not you are offering all cash, and the length of escrow you’re contemplating (e.g., 21 days?). If your offer is reasonable, and we feel the seller may respond to your offer with an acceptance or counteroffer, we will prepare your written offer for you. 2) To help us prepare your offer, we will request that you send us some information. These items include: The name(s) of everyone who will be on title, email for each buyer, your mailing address, and your phone number. To minimize error, please e-mail this information to us. 3) We will prepare your offer and e-mail it to you in DocuSign. You will sign the offer electronically by clicking. It’s easy to use DocuSign and anyone can do it with no experience or special software. All buyers who plan to be on title must sign the offer. 4) We will present your offer to the seller. When the seller replies with a decision we will contact you and let you know. 5) If the seller accepts your offer, we will open escrow and give you the mailing address for escrow. 6) You will mail a small earnest money deposit directly to escrow, payable to escrow. This initial deposit can be in the form of a personal check. 7) The escrow officer will mail you documents to sign and mail back to escrow. Or you can arrange directly with escrow to go sign in person if you wish. 8) A few days before closing, escrow will ask you for the additional funds. At closing, funds must be in the form of a cashier’s check or bank wire (no personal checks at closing). 9) Escrow will close, your ownership will be recorded with the county, and you will own the parcel. Land22 will inform you when escrow officially closes.



How will you advertise my land?

At Land22 Real Estate, our advertising is extensive. We will advertise your land on many Internet sites.



What else will you do to market my land?

We will send personal letters and brochures to all neighbors inviting them to purchase your parcel. This blog post explains the value of writing to neighbors.



What is your commission?

Our commission varies depending on the listing price of the parcel and other factors. For low priced parcels, our commission is a fixed fee, not a percent of the selling price. This fixed amount is paid at escrow closing and only if your land sells. It is not paid upfront. For medium to high priced parcels our commission is a percent of the selling price. We invite you to contact Broker Tammy and she will be pleased to tell you what the Land22 commission would be for your parcel.



Does the seller pay the commission or does the buyer pay it?

The seller pays the commission.



If Land22 represents the seller, and another broker represents the buyer, who pays the buyer’s broker commission?

The seller pays the full commission to Land22 Real Estate. Land22 then gives half of their commission to the buyer’s broker.



What other costs do buyers and sellers pay besides the commission?

Buyers and sellers also pay “closing costs”. Closing costs include the escrow fee and title insurance.



Are closing costs paid to Land22 Real Estate?

No. Only the commission is paid to Land22. Closing costs are paid to escrow.



Are there any up-front costs to list my land with Land22 Real Estate?

No. The commission and closing costs are paid at the close of escrow, through escrow.



Who pays for all the advertising that Land22 does?

Land22 pays for it.



Are bank loans available for vacant land?

Maybe. Conventional financing is widely available for houses and condos but not for land. Buyers interested in a mortgage may wish to check directly with their bank to see if they will finance their land purchase. Also, I keep getting e-mails from US Bank saying they have lot/land loans.



What is seller-financing?

Seller financing is when the buyer makes a down payment and pays off the loan to the seller over time. Title is transferred to the buyer at closing and the seller becomes the lender just like a bank. The seller has a trust deed on the property, i.e., a lien, and can foreclose if the buyer doesn’t pay. The loan is recorded with the county.



Does Land22 know how to write seller-financing offers?

Yes. We are experienced at writing seller-financing offers. We will be pleased to assist buyers in submitting offers requesting seller financing. In addition, we assist our seller clients in responding to these offers to make sure all the details are in order. The escrow officer then handles the final paperwork and recording.



Will the seller carry the loan on that parcel?

Maybe. If you see a parcel on this Land22 site where the terms are "cash" you can e-mail us and we can ask the seller if they will carry the loan. However, before we can ask the seller if they will carry the loan, you must first specify the down payment, interest rate and term that you, as buyer, are proposing. For example, 20% down, 5% interest, 5 years, or whatever. Put this in an e-mail to us, then we can ask the seller. Here is a blog post that offers strategies for requesting seller financing.



When sellers say they will carry the loan, what kind of terms will they generally accept?

On seller-financed land, down payments generally range from 20-50%. Interest rates tend to range from 4-10%. Terms range from 2-15 years.



Will the seller carry the loan on that parcel with $0 down or a very low down payment?

No. This blog post explains why.



Does Land22 offer financing?

No. Land22 Real Estate is a real estate brokerage, not a lender, and does not offer financing.



How do you research price?

We use a variety of methods. We start by searching the Multiple Listing Service (MLS) for parcels similar in size in the same geographic area that sold in the last 1-3 years. We might also look at the prices of similar parcels that expired in the MLS without selling and those that are currently available for sale but have not yet sold. For select parcels we might also research price on other websites such as Zillow.



What information do I need to provide to Land22 so that you can research price on my land?

We need the assessor's parcel number (also called the tax identification number) and county. This is the only information we need to locate the parcel. In addition, it would be helpful if you would fill out this simple form.



What is my land worth?

We would be pleased to tell you the price that we would list your land for today. Fill out this form and Broker Tammy will reply within 2 business days with a listing price.



Are there any liens or back taxes owed on that parcel?

Maybe. However, if there are liens or back taxes owed, the seller will pay them and the buyer will not pay them. Escrow will automatically deduct these items from the seller's proceeds at closing. The parcel will be delivered to the buyer “free and clear” and the buyer will receive title insurance.



Will you help me dispute my property taxes?

No. Land22 Real Estate is in the business of selling land so we do not perform pricing research for property tax disputes. However, we can still help you: many sellers find that it is far easier to sell their land through Land22 than fuss with all the paperwork necessary to try to get their property taxes lowered. By selling your land you eliminate property taxes entirely.



Will you help me search for a parcel of land that meets my needs?

At Land22 Real Estate, we primarily represent sellers. We are also pleased to assist buyers in purchasing any parcel on our website. We do not assist buyers in searching for parcels offered by other agents.