Well, the simple answer is that there is value in the land and always has been. Although there are many things which can affect that value over time, and not all are positive or negative. You may have heard that land does not depreciate. That's only true when it comes to filing your taxes. You can claim depreciation on your home, but not on vacant land, so in that case, Land does not depreciate. But in the real world, it may.
Nevertheless, there are many reasons why people choose to sell, since it’s not always convenient to wait till years later to see what will be, when time has other things needing their attention.
A few reasons why some vacant land owners sell:
1. They inherited it and have no plans to go there.
2. They had a setback in life financially.
3. Job loss or reduction in pay requiring more to pay bills.
4. An unfortunate medical situation.
7. To build elsewhere with the funds they receive from one or more lots, to help build on the one they want to live on.
8. To make other investments.
9. To not be bothered paying more property taxes for somewhere they’ve never been and may never go.
10. To be released of any liens recorded against them.
11. Time got away and now there are no plans to build as it sits unused year after year.
12. City or Town letters demanding cleanup of the lot for accumulated trash and overgrown vegetation or be fined.
13. To start a new business where they want to live.
14. Sometimes some people just don’t care about it any longer. The thrill is gone. Onto something they can use.
15. To provide the money needed to fulfill their Bucket-List items and destinations for a life worth living.
I’m here to help those who want a way out with the cash the land can provide rather than leaving them with dirt they have no need for. But, if your situation does not warrant a need to sell, then there’s no need of concern.
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