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Author name: Alex Reese

Selling Land, State Land Guides

Your Ultimate Guide to Selling North Carolina Farmland

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From Farm to Market: Your Guide to Selling North Carolina Farmland Table of Contents Introduction Land Scams on the Rise: Protecting Yourself From Scammers How to Avoid Scams and Ensure Payment Security When Selling Land Ready, Set, Sell! Listing Your Land: Finding the Right Buyer The Fast Track to Selling Your Land: Selling to a Land Investor The Closing Stretch: Sealing the Deal from Out-of-state Conclusion North Carolina’s farmland is more than just scenic beauty; it’s a powerful economic engine and a source of deep-rooted pride. With 8.1 million acres of fertile land spread across its 100 counties, agriculture is a driving force in North Carolina. In fact, according to the NC Department of Agriculture & Consumer Services, the agriculture and agribusiness industries in North Carolina generated a combined economic impact of $111.1 billion in 2023. This includes value-added income from the farm to the consumer, sales revenue, and payroll for those employed in the agricultural sector, demonstrating the significant role these industries play in the state’s economy. But North Carolina’s farmland offers more than just economic strength; it boasts remarkable diversity. Farmers cultivate a wide array of crops, taking advantage of the state’s varied geography and climate. From the traditional tobacco fields and cotton plantations of the east to the bountiful apple orchards and evergreen Christmas tree farms nestled in the western mountains, the state’s agricultural output is remarkably diverse. And let’s not forget the significant contribution of livestock to this landscape, with poultry, swine, and cattle operations found throughout the state. In terms of cash receipts from farming, livestock, dairy, and poultry contribute 74.3%, while crops make up 25.7% of the total. North Carolina is also a major player in certain crops, being the top producer of sweet potatoes in the U.S., accounting for about 54% of all sweet potatoes grown in the country. (Source: Economic Research Service, USDA) (Source: Economic Research Service).  Who is this guide for?   This guide is designed to be a valuable resource for a wide range of individuals involved in the North Carolina farmland market, including: Farmers preparing for retirement – If you’re a farmer considering selling your land to embark on a well-deserved retirement, this guide will provide you with the necessary knowledge and resources. Individuals who have inherited farmland – Inheriting farmland can bring a mix of emotions and uncertainties. This guide will help you understand your options and navigate the complexities of selling inherited property. Investors exploring agricultural opportunities – For those seeking to diversify their investment portfolio with the addition of agricultural land, this guide offers valuable insights into the North Carolina farmland market. Understanding the NC Farmland Market The North Carolina farmland market is a dynamic landscape influenced by a variety of factors. Understanding these forces is crucial for both buyers and sellers to make informed decisions. Residential Demand for Farmland   One of the most significant trends is the increasing demand for rural properties for both residential and commercial development. As urban areas become more congested and expensive, many individuals and families seek a more peaceful lifestyle in rural settings, driving up the value of farmland suitable for home construction.  At the same time, developers are also eyeing large tracts of farmland located near utilities and with access to infrastructure, recognizing their potential for creating residential subdivisions, shopping centers, or other commercial ventures. This combined demand from individuals seeking a rural lifestyle and developers seeking development tracts further intensifies competition for farmland and drives up prices, often creating a significant price premium compared to land intended solely for agricultural use. Market Dynamics Beyond residential demand, several other factors shape the farmland market: Current Trends –The rise of organic farming, agritourism, and sustainable agriculture practices are influencing farmland values. Consumers are increasingly interested in locally sourced, organic food, creating new opportunities for farmers and driving demand for land suitable for these practices.According to the 2022 Census of Agriculture, the number of organic farms in North Carolina increased by 15% from 2017 to 2022, reflecting this growing consumer preference. The state counts 22,940 new and beginning producers, up from 20,298 in 2017. Agritourism, which involves offering recreational activities and experiences on farms, is another growing trend that can add value to farmland by diversifying income streams. Factors Affecting Value – Beyond location and development potential, several key factors influence farmland value: Soil Quality –Fertile soil is essential for agricultural productivity. The NC Department of Agriculture & Consumer Services offers soil testing services to help landowners assess their soil quality and understand its potential for various crops. Water Access – A reliable water source, whether through irrigation rights, wells, or surface water access, is crucial for farming operations and significantly impacts land value. North Carolina has specific regulations regarding water rights, and it’s essential for landowners to understand these legal frameworks. Infrastructure –The presence of well-maintained buildings, fences, irrigation systems, and other infrastructure can increase the value of farmland by enhancing its productivity and efficiency. Proximity to Markets – Farmland located near urban centers, processing facilities, or transportation routes benefits from reduced transportation costs and easier access to markets, increasing its overall value. Market Data and Statistics To make informed decisions in the farmland market, it’s essential to have access to relevant data. Here are some key statistics to consider: 1. Average Farmland Prices – The average price of farmland in North Carolina in 2024 is $5,101 per acre, with values ranging from $8400 in high-value areas to lower prices in other regions. This represents a 7% increase from 2023 and continues a steady upward trend since 2020. This data, from the USDA’s 2024 Land Values, indicates a strong and growing market for North Carolina farmland. 2. Average Residential Land Prices – In North Carolina, farmland values average $5,150 per acre, according to USDA reports. In contrast, residential land prices vary significantly, often averaging $45,000 per acre or more in suburban and high-demand areas. In rapidly growing regions like Wake County, residential land can exceed $100,000 per acre, especially near major highways and

Buying Land

Guide To Soil And Septic For Land Buyers

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Guide To Soil And Septic For Land Buyers Table of Contents Introduction Why Soil and Septic Systems Matter for Land Buyers Understanding Soil and Its Importance Septic Systems 101: What Land Buyers Should Know How to Evaluate Land for Soil and Septic Suitability Common Mistakes to Avoid Conclusion Imagine purchasing a piece of land for $50,000, closing the deal, and excitedly planning your dream home—only to realize later that you can’t build on it due to unsuitable soil conditions that prevent you from installing a septic system. Even worse, you find out that your $50,000 investment could be worth as little as $10,000, simply because you’re not able to install a septic system required to build a home on that property. This scenario is more common than you might think and underscores the significance of understanding soil and septic considerations when purchasing land. Understanding the soil and how they impact your septic system might not be the most exciting part of land ownership, but it’s crucial for ensuring a successful and sustainable build. This is especially important given that nearly one-fifth of U.S. households—about 21 million homes—rely on onsite wastewater treatment systems, primarily septic systems, according to Circle of Blue. The reliance on septic systems is even more common in rural areas, where centralized sewer infrastructure is often unavailable. Why Soil and Septic Systems Matter for Land Buyers Before purchasing land, it’s important to evaluate the soil and septic system potential. Failing to do so can lead to a cascade of problems that can derail your development plans and significantly impact your investment.  Poor soil quality or inadequate septic systems can lead to: Failed building projects – Unstable soil can lead to foundation issues, while poorly draining soil can cause septic system failure, both resulting in costly repairs and construction delays. Repairing or replacing a failed septic system can be a significant financial burden. Expensive repairs or replacements – A malfunctioning septic system can require expensive repairs or even complete replacement, potentially costing tens of thousands of dollars. Health and environmental hazards – Untreated wastewater from a failed septic system can contaminate groundwater, posing risks to drinking water supplies and ecosystems. Legal and regulatory issues – Failing to comply with local septic system regulations can result in fines and legal complications. Understanding Soil and Its Importance The bottom line for land buyers is often: How does the soil affect my development plans and the value of my investment? The answer lies in understanding how soil characteristics impact the feasibility and cost of installing a septic system, a crucial component for most residential and many commercial land uses. The characteristics of your soil can significantly impact the feasibility, cost, and functionality of your septic system, which in turn affects the overall value of your land and the success of your development plans. 1. Soil Conditions Required   To support a properly functioning septic system, your soil needs to meet certain criteria: Soil Type and Texture – The type of soil determines the type of septic system you can install and how well it will function. This is because different soil types have varying abilities to drain and filter wastewater. For example, sandy soils drain too quickly, potentially allowing contaminants to reach groundwater, while clay soils drain too slowly, leading to system backups. The ideal soil is loam, which offers a balance of drainage and filtration. Soil Depth – Adequate soil depth is essential for accommodating the septic system’s components, particularly the drainfield. The drainfield needs sufficient depth to allow for proper treatment and dispersal of wastewater, preventing contamination of groundwater and ensuring long-term system performance. Shallow bedrock or a high water table can limit the available depth and necessitate alternative septic system designs, which can be more expensive. Soil Drainage – Good drainage is crucial for preventing backups and ensuring the proper function of the septic system. Poorly drained soil can lead to system failure, requiring costly repairs and potentially posing health and environmental hazards. 2. Understanding the Financial Implications of Soil on Land Value   The quality of your soil can have a significant financial impact on your land investment. Here’s how: A. Unsuitable Soil = Higher Costs & Lower Value – If your soil has poor drainage (like clay soil) or drains too quickly (like sandy soil), you may face: Increased installation costs – Needing a more complex septic system, such as a mound system or an aerobic treatment unit (ATU), can add tens of thousands of dollars to your initial expenses. Higher maintenance costs – Systems in unsuitable soils are more prone to failure, leading to expensive repairs and potential fines for environmental violations. Limited development potential – You may be restricted in the size and type of structures you can build, potentially impacting your long-term plans for the property. Decreased property value – Properties with significant septic limitations are less desirable, potentially reducing their resale value. B. Suitable Soil = Increased Value & Flexibility – Land with well-drained, loamy soil offers: Lower installation costs – A conventional septic system is typically sufficient, saving you thousands of dollars upfront. Greater development flexibility – You have more options for building and expanding on your property. Increased property value – Land with good soil for septic systems is more desirable and can command a higher price. By carefully assessing soil characteristics and their implications for septic systems, you can avoid costly mistakes, maximize development potential, and enhance the value of your land investment. Learn More We are very pleased with the fair offer we received from Acrewell Land Company for our land. Alexander Reese and Marilag walked us through all aspect of the selling process, which made us feel more comfortable that we were making the right choice. I fully recommend this company to anyone who is considering selling their property to Acrewell. Carolyn Pellot I am absolutely delighted to write a glowing review for Acrewell’s recent land purchase from us. The entire experience of transitioning the land ownership was incredibly smooth and efficient, thanks to

Buying Land, Real Estate Market Trends, State Land Guides

What You Need to Know Before Buying Land in Person County, North Carolina

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What You Need to Know Before Buying Land in Person County, North Carolina Table of Contents Introduction Understanding the Person County Land Market Finding Your Perfect Piece of Person County Financing Your Land Purchase Making an Offer and Negotiating Making it Official Welcome to Person County! Imagine escaping the city’s hustle and bustle to find peace and tranquility in the heart of North Carolina. Picture yourself surrounded by rolling hills, lush forests, and sparkling lakes, with the freedom to create your own haven. This could be your reality in Person County. Why Person County? Person County offers a unique blend of rural beauty, affordability, and proximity to urban centers. With a population of over 39,100 (Source: Data USA), it’s a place where you can enjoy a close-knit community and beautiful natural scenery, all while being just a short drive from the vibrant Raleigh-Durham metropolitan area. Whether you’re dreaming of building your own home, starting a hobby farm, or simply enjoying a slower pace of life, Person County has something for everyone. A Rich History Did you know this county, formed in 1792, is nearly as old as the United States Constitution itself? Named after Revolutionary War General Thomas Person, this region is steeped in history. From its agricultural roots to its contributions to the textile industry, Person County’s heritage is woven into the fabric of North Carolina’s story (Source: NC History Project) Your Gateway to the Triangle Person County isn’t just a peaceful escape; it’s also part of the thriving Research Triangle Region. This dynamic area, anchored by the cities of Raleigh, Durham, and Chapel Hill, is a hotbed of innovation, technology, and economic growth. It’s home to world-class universities like Duke University, UNC-Chapel Hill, and NC State University, as well as major research institutions like the Research Triangle Park. (Source: Research Triangle) This vibrant region boasts over 2 million residents and is a magnet for businesses, with over 7,000 companies calling it home, including more than 700 international companies. And within the Research Triangle Park itself, there are over 375 companies, including science and technology firms, government agencies, academic institutions, startups, and nonprofits. This concentration of brainpower and innovation creates a ripple effect throughout the entire region, benefiting Person County with a diverse and thriving economy and ample job opportunities. But Person County isn’t just riding the coattails of its neighbors. It has a vibrant economy of its own! Companies like Polywood (with over 600 employees!), GKN Automotive Components, and Duke Energy Progress have set up shop here, providing a diverse range of jobs for residents. (Source: Person County Economic Development Commission) Imagine this: you can enjoy all the perks of the Research Triangle – top-notch healthcare, cultural attractions, and a strong job market – while still relishing the peace and affordability of a rural setting.  It’s the perfect blend of city excitement and country charm.  And with most residents enjoying a commute of just 30.2 minutes to work (Source: U.S. Census Bureau), you can have the best of both worlds without spending hours in traffic. Furthermore, Person County boasts a 13.2% lower cost of living than the US average, a moderate climate, and a low risk for natural disasters. (Source: Person County Economic Development Commission) It’s a place where you can enjoy a high quality of life without breaking the bank. A Haven for Outdoor Enthusiasts And when it comes to recreation and exploring the great outdoors, Person County truly shines. With thousands of visitors each year, it’s clear that this county has something special to offer. Imagine spending a sunny afternoon casting a line into the sprawling 3,750-acre Hyco Lake, known for its abundance of bass, crappie, and catfish. Bring your boat and explore the coves and inlets, or find a quiet spot on the shore to cast your line and relax. Hyco Lake is also a popular spot for waterskiing, wakeboarding, and tubing, so you can get your adrenaline pumping if you’re feeling adventurous. Or perhaps you’d prefer to pack a picnic basket and head to 120-acre Mayo Lake Park.  Hike the scenic trails, let the kids loose on the playground, or simply relax by the water and enjoy the peaceful atmosphere.  Mayo Lake is also a great spot for kayaking and canoeing, with calm waters and beautiful scenery.  And if you’re feeling really adventurous, you can even try your hand at stand-up paddleboarding! And for a more laid-back experience, head to the shores of Roxboro Lake.  This smaller lake, nestled just outside the city limits of Roxboro, offers a peaceful escape where you can enjoy fishing, kayaking, or simply relaxing by the water with a good book.  The lake is also a popular spot for birdwatching, with a variety of species calling the area home.  (Source: Person County Website and Mayo River State NC State Parks). Exploring History and Heritage But Person County isn’t just about outdoor adventures. History buffs will delight in exploring the charming downtown area of Roxboro, with its historic buildings and fascinating museums. Step back in time at the Person County Museum of History housed in a beautifully restored 19th-century building. Imagine wandering through exhibits that showcase the lives of Person County’s earliest residents, from Native American artifacts to relics from the Revolutionary War era.  Discover the stories of the county’s founding fathers, the struggles and triumphs of its people, and the evolution of its industries, from agriculture to textiles.  You might even uncover a hidden family connection to the past! Whether you’re seeking adventure or relaxation, Person County has something for everyone. It’s a place where you can create your own haven, build lasting memories, and enjoy a fulfilling lifestyle. Understanding the Person County Land Market Before you dive headfirst into property listings, let’s get a lay of the land (pun intended!). The Person County land market is currently experiencing steady growth, with increasing demand for rural properties and larger acreage. This demand is influenced, in part, by the county’s proximity to the thriving Research Triangle Park (RTP) region.

Selling Land

Selling Land Out of State: You Step-by-Step Guide To Avoid Scams and Sell For Top Dollar

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Selling Land Out of State? Your Step-by-Step Guide to Maximize Value Table of Contents Introduction Land Scams on the Rise: Protecting Yourself From Scammers How to Avoid Scams and Ensure Payment Security When Selling Land Ready, Set, Sell! Listing Your Land: Finding the Right Buyer The Fast Track to Selling Your Land: Selling to a Land Investor The Closing Stretch: Sealing the Deal from Out-of-state Conclusion Selling land can be tricky, especially when it’s miles away. Inherited a piece of land in another state? Maybe you’ve relocated and need to sell that acreage you left behind?  Don’t worry, we’ve got you covered! This guide is your roadmap to navigating the unique challenges and exciting opportunities of selling land from afar. Land Scams on the Rise: Protecting Yourself From Scammers The real estate world has gone digital. In 2022, 13% of all real estate transactions were conducted remotely, according to the National Association of REALTORS®. While the convenience of selling property from miles away is undeniable, it also opens the door to new risks—especially for vacant landowners. The Growing Threat of Real Estate Scams Unfortunately, vacant land owned by absentee owners has become a prime target for scammers. These fraudsters employ increasingly sophisticated tactics to deceive buyers, sellers, and even real estate professionals. Charlie Lee, senior counsel at the National Association of REALTORS®, highlights the growing threat of vacant land scams in his “Window to the Law” video series. The Risk in Numbers   The risks aren’t just anecdotal—they’re backed by hard numbers: The FBI’s Internet Crime Complaint Center (IC3) reported a surge in real estate and rental scams, with losses exceeding $730 million in 2022. (Source: FBI IC3 Report 2022) CertifID found that 1 in 10 Americans are targets of real estate fraud, and 1 in 20 suffer losses as a result. (Source: CertifID’s 2024 State of Wire Fraud Report) While selling from far away is convenient, it also makes it easier for scammers to take advantage.  Out-of-state sellers are often less likely to visit the property or meet with potential buyers in person, making it easier for fraudsters to exploit the situation. With 95% of buyers using online tools to search for properties (Source: NAR), it’s tempting to rely solely on virtual tours and online communication when selling remotely. For example, a 2023 report by the National Association of Realtors found that properties sold without the seller being physically present were 30% more likely to be involved in a fraudulent transaction. Common scams include: Fake Listings – Scammers create fraudulent listings for land they don’t own, often using stolen photos and information. Title Fraud – Scammers forge documents to claim ownership of land and then attempt to sell it to unsuspecting buyers. Bait-and-Switch – Scammers advertise land at a low price to lure in buyers, then switch to a less desirable property or demand a higher price at closing. Therefore, it’s crucial for remote sellers to take extra precautions to protect themselves, such as working with reputable professionals, verifying the buyer’s identity, and ensuring a secure closing process. How to Avoid Scams and Ensure Payment Security When Selling Land Okay, let’s talk about the part everyone’s interested in: getting paid! When you’re selling land from afar, you want to make sure that money lands safely in your account without any issues. Here’s the game plan: Working With Title Company – Think of your real estate attorney or title agent as your licensed fiduciary in the process of selling your property. They’ll help you navigate the process, make sure the paperwork is in good order, and ensure the buyer is who they say they are. They’ll also be your guides to getting paid securely and on time once the deal goes through.A study by the National Association of Realtors found that 87% of sellers used a real estate agent in their transactions – and for good reason! Agents bring expertise in negotiation, marketing, and legal compliance, which is especially valuable when you’re not physically present. (Source: National Association of REALTORS®) Vetting Your Buyer – Don’t be afraid to ask for proof of funds from the buyer who wants to buy your land, and maybe even do a little digging online to make sure they’re legit. It’s always better to be safe than sorry. Closing with Confidence – The closing process can feel like a bit of a nail-biter, but with the right team, you can relax. Use a title company or escrow agent – they’re like the referees of the real estate world. They’ll hold the buyer’s money safe until all the i’s are dotted and t’s are crossed, ensuring a smooth and secure transaction for everyone. Keep It Simple – When it comes to payment, stick to the tried and true methods. Be wary of requests for weird payment methods, like wiring money to some far-off land or dealing with cryptocurrency. Those can be red flags for scammers. Stick to cashier’s checks or wire transfers to real, verified bank accounts. Document Everything – Think of it like creating a treasure map to your land sale. Keep a record of all your conversations, agreements, and money matters. This can be a lifesaver if any disputes or problems come up later on. By following these tips, you can navigate the out-of-state land sale with confidence, knowing that you’re protected from scams and on your way to a successful and secure payday! Get Offer We are very pleased with the fair offer we received from Acrewell Land Company for our land. Alexander Reese and Marilag walked us through all aspect of the selling process, which made us feel more comfortable that we were making the right choice. I fully recommend this company to anyone who is considering selling their property to Acrewell. Carolyn Pellot I am absolutely delighted to write a glowing review for Acrewell’s recent land purchase from us. The entire experience of transitioning the land ownership was incredibly smooth and efficient, thanks to Acrewell’s exceptional professionalism and clear communication throughout the

Buying Land, Real Estate Market Fundamentals, State Land Guides

Your Step-by-Step Guide to Buying Land in Pender County, NC

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Your Step-by-Step Guide to Buying Land in Pender County Table of Contents Introduction Understanding the Pender County Land Market​ Determine Your Needs and Budget Find and Evaluate Land for Sale Secure Financing Make an Offer and Negotiate Close the Deal Next Steps Dreaming of owning land in beautiful Pender County, North Carolina? Whether you envision building your dream home, creating a peaceful retreat, or investing in a promising future, this step-by-step guide will walk you through the process of buying land in this sought-after coastal county. Why Pender County? Pender County, North Carolina: where the rhythm of the waves meets the rustle of longleaf pines. Imagine 26 miles of pristine coastline, with sun-drenched beaches beckoning you to unwind. Over 1.5 million visitors escape to Pender County each year, seeking the perfect blend of coastal charm and Southern hospitality. With three vibrant coastal towns – Topsail Beach, Surf City, and Hampstead – you’ll find a unique blend of laid-back charm and exciting possibilities. And speaking of possibilities, Pender County’s prime location, just a short 30-minute drive (approximately 25 miles) from the bustling city of Wilmington, opens up a world of opportunity. Wilmington, a major economic hub in southeastern North Carolina, boasts a diverse job market with over 78,000 jobs and key employers in healthcare (New Hanover Regional Medical Center), education (University of North Carolina Wilmington), and manufacturing (GE Hitachi Nuclear Energy). Many homeowners who work in Wilmington choose to live in Pender County, drawn to its lower cost of living (on average, 10% lower than Wilmington, according to Sperling’s Best Places), spacious properties, and relaxed coastal lifestyle. It’s the best of both worlds – the career opportunities of a thriving city combined with the peace and tranquility of a coastal community. But there’s more to Pender County than just stunning shores. Venture inland, and you’ll discover a hidden gem where over 65,000 residents call home. Historic towns like Burgaw whisper tales of the past, while sprawling farmland paints a picture of rural tranquility. Did you know Pender County is a blueberry haven, producing over 10 million pounds of this superfood each year? Picture yourself with a bucket in hand, plucking juicy berries straight from the bush at a local farm like Shaken Creek Farms, which welcomes visitors to experience the joy of blueberry picking. And for those seeking a more active lifestyle, Pender County offers a variety of outdoor adventures. Explore the scenic trails of Holly Shelter Game Land, perfect for hiking and wildlife viewing.  Cast a line in the Northeast Cape Fear River, known for its excellent fishing.  Or paddle through the serene waters of Topsail Sound, enjoying the beauty of the coastal ecosystem. Whether you crave the vibrant energy of Topsail Island, the surfer’s paradise of Surf City, or the peaceful seclusion of Hampstead’s beaches, Pender County offers a coastal escape for every taste. And if a slower pace calls to you, explore the heartland, where you can build your dream home amidst rolling hills and cultivate your own slice of North Carolina’s rich agricultural heritage. Speaking of heritage… Pender County, established in 1875, carries a legacy as rich as its landscapes. Named after the esteemed Civil War General, William Dorsey Pender, this region holds a unique place in North Carolina’s history. Carved from portions of New Hanover and Bladen Counties, Pender County emerged as a distinct entity, driven by the need for a more localized government to serve the growing population and unique needs of the area. Early settlers were drawn to the fertile lands and abundant natural resources, establishing a strong agricultural foundation that continues to shape the county’s identity today. Its rich history is rooted in agriculture, with farming and forestry playing a significant role in the local economy. The Pender County “Tale of Two Markets” Pender County’s real estate market can be viewed as two distinct markets, each with its own unique characteristics and appeal: Coastal Market – Driven by tourism and vacation homes, the coastal market is characterized by higher prices and strong demand for waterfront properties. If you’re seeking a prime location near the beach, be prepared for a competitive market and potentially higher prices. Inland Market – The inland market offers more affordable options for those seeking larger acreage, rural living, or agricultural opportunities. If you dream of owning a spacious property with room to roam, cultivate a farm, or build a custom home, the inland areas of Pender County offer a wealth of possibilities. Understanding the Pender County Land Market Before you start your land search, it’s essential to get a feel for the Pender County land market. Remember that the county offers two distinct markets: the coastal market, driven by tourism and vacation homes, and the inland market, which offers more affordable options for those seeking larger acreage or a rural lifestyle. Here are key factors to consider in both markets: Market Trends – The Pender County land market is experiencing high demand, particularly for larger parcels and waterfront properties. This is creating a competitive market where desirable properties sell quickly. Land values have been steadily increasing. The median listing home price in Pender County was $561.4K in November 2024, trending up 14.8% year-over-year (Source: Realtor.com). This strong housing market often translates to increased demand for land as well. To give you a better idea of what to expect when buying land to build a home: Inland – If you’re looking to build your dream home in a more peaceful setting, the inland market offers attractive options. In the last 12 months, the median sold price for a 1-acre lot in the inland market was around $33,000. This provides a good starting point for budgeting your land purchase. Coastal – If you dream of building your home by the beach, be prepared for a more competitive market. The median sold price for a 1-acre infill lot by the beach in the last 12 months was around $614,500. This significant price difference highlights the premium placed on coastal living in Pender County. To give

Buying Land, Real Estate Market Fundamentals

How To Buy Land With As Little As $0 Down With Owner Finance

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How To Buy Land With As Little As $0 Down With Owner Finance Table of Contents Introduction What is Owner Financing? The Seller is the Bank Why Would a Seller Agree to Owner Financing? How It Works How to Buy Land with $0 Down Using Owner Financing: Your Step-by-Step Guide Pros and Cons of Owner Financing Key Takeaways Conclusion What if you could purchase land today, pay little or no money down, and make affordable monthly payments each month to the seller instead of getting an expensive loan from the bank? Traditional bank lenders demand  20–50% down payments (for raw/unimproved land loans) because they see land as risky and don’t like to issue loans to land buyers. The solution? Owner financing—a powerful, flexible way to acquire land without relying on banks or credit approvals. With this strategy, the seller acts as the lender, allowing you to secure a property with little to no money down. You might be thinking, “Why on earth would a seller agree to this?” As it turns out owner finance offers a multitude of advantages to the seller, and when you’re able to educate them on these unique benefits you can unlock a world of opportunity in the process. What is Owner Financing? The Seller is The Bank At its core, owner financing, also known as “seller financing” is a direct lending agreement between the land seller and the buyer. Instead of securing a mortgage from a traditional financial institution, the seller acts as a bank. In the process of agreeing to defer some percentage of the purchase price to be repaid after closing, the seller essentially provides the “loan” needed to purchase their property. Why Would a Seller Agree to Owner Financing? Understanding the seller’s motivations is crucial to successfully negotiating a win-win owner financing deal. Here’s why sellers often find this arrangement appealing: A. Higher Sale Price Sellers frequently command a premium for offering financing. While specific statistics on land premiums are variable, real estate industry practices suggest that seller financing can allow for a sale price 10% to 20% above what might be achieved with a traditional cash buyer. Example: A piece of land appraised at $50,000 might be listed and sold for $55,000 to $60,000 when the seller offers financing. This immediate increase boosts their profit margin. B. Faster Sale Process Owner financing bypasses bank delays such as appraisals, credit checks, and mortgage approvals, allowing properties to sell faster. According to data on real estate transaction timelines in the United States, the average time to close on a traditional home sale (which involves similar financial processes to land with mortgages) can range from 30 to 60 days, and financing issues are a common cause of delays. Owner financing can potentially shorten this period significantly by eliminating the need for external lender approvals. C. Predictable Monthly Income Instead of receiving a single lump sum payment, the seller receives a steady stream of income in the form of monthly payments, much like an annuity. This is ideal for retirees, investors, or landowners looking to replace lost wages with steady income. D. Interest Income The buyer doesn’t pay the full price upfront. Instead, they make payments to the seller over time. Sellers usually charge interest on the financed amount. The seller earns additional money above and beyond the purchase price in the form of interest income, which gets repaid over the life of the loan. Example: On a $60,000 sale with a 5-year owner financing term and an 8% interest rate, the seller could potentially earn over $15,000 in interest on top of the $60,000 sale price. E. More Potential Buyers in the Market By offering owner financing, sellers tap into a significantly larger segment of the market. Many individuals and businesses who are eager to acquire land may lack the immediate capital for a large down payment but possess the ability to make consistent monthly payments. Example: The seller wants to sell her $75,000 land. Buyer 1 and Buyer 2 are interested but lack the $37,500 down payment banks require. Seller offers owner financing with a $10,000 down payment and the remaining $65,000 deferred on a 15 year amortizing mortgage at 7% annual interest. At a 7% annual interest rate over 15 years, the estimated monthly payment would be around $584. Suddenly, both buyers, who can afford these monthly payments, are potential buyers. Seller now has a larger pool of interested parties than if she only accepted cash or buyers with traditional financing. In addition to the streamlined process, the borrower does not have to prove income and debt-to-income, which usually will not be possible with a bank. F. Same Security as a Bank Lender In owner financing, the land itself acts as collateral, just like a bank mortgage. If the buyer defaults, the seller can reclaim the property through foreclosure. Sellers also secure payments with: Legally binding contracts (land contracts/deeds of trust) that enforce repayment terms. Late fees and acceleration clauses (full balance due after missed payments). Lower default risk: Owner-financed loans see just 8–12% defaults (vs. 15–20% for subprime mortgages, per Federal Reserve). Sellers get bank-like security without the bank—keeping their asset protected while offloading taxes and maintenance costs. And for sellers who require additional assurances and don’t want to go through a lengthy foreclosure process, the buyer can agree to offer a loan provision called a ‘deed-in-lieu of foreclosure’, in which the buyer agrees to transfer ownership of the land back to the seller-lender in the event of a future default. Start Your Land Journey We are very pleased with the fair offer we received from Acrewell Land Company for our land. Alexander Reese and Marilag walked us through all aspect of the selling process, which made us feel more comfortable that we were making the right choice. I fully recommend this company to anyone who is considering selling their property to Acrewell. Carolyn Pellot I am absolutely delighted to write a glowing review for Acrewell’s recent land purchase from us.

State Land Guides

How To Sell Inherited Land in North Carolina

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Inheriting land in North Carolina can be a bittersweet experience. While it may hold sentimental value and represent a connection to loved ones, it can also bring a wave of unexpected responsibilities and decisions. If you’re wondering, “How do I sell my North Carolina land that I’ve inherited?” you’re not alone. This guide will walk you through the process, offering insights and resources to help you navigate this often complex journey. Understanding Your Inheritance Before you can sell inherited land in North Carolina, it’s crucial to understand your rights and responsibilities. If the deceased had a will, it should outline how their assets, including land, are to be distributed. However, if there’s no will (intestacy), North Carolina intestacy laws will determine how the property is divided among heirs. This process can become complicated, especially if multiple heirs are involved, ownership is unclear, or there are disputes among family members. It’s essential to work with an experienced estate attorney to confirm your ownership rights and ensure a smooth transfer of the property title. Steps to Sell Inherited Land in North Carolina Selling inherited land involves several key steps: 1. Confirm Ownership and Legal Rights: Obtain a copy of the will (if one exists) and the property deed. Consult with an estate attorney to verify ownership and address any potential legal issues. Ensure the title is clear and free of any liens or encumbrances. 2. Assess the Property: Conduct a thorough assessment of the land, including surveys, appraisals, and environmental inspections. Identify any potential problems that could affect the sale, such as boundary disputes, zoning restrictions, or environmental concerns. 3. Address Financial Obligations: Determine the property tax implications for inherited land in North Carolina. Settle any outstanding debts or liens associated with the property. 4. Prepare for Sale: If necessary, clear the land, perform basic maintenance, and consider any improvements that could enhance its marketability. Consult with a real estate agent to get advice on pricing and marketing strategies. 5. Explore Selling Options: Real Estate Agent: Working with a real estate agent offers advantages like market knowledge, professional marketing, and negotiation expertise. However, it also involves paying a commission. Selling by Owner (FSBO): Selling the land yourself can save you money on commissions, but it requires more time and effort. Land Buying Companies: Companies like Acrewell Land Company offer a fast and convenient way to sell inherited land. They provide all-cash offers, quick closings, and purchase properties as-is, eliminating the need for repairs or renovations. Navigating Probate in North Carolina Probate is a legal process that oversees the distribution of a deceased person’s assets, including land. In North Carolina, probate is typically required if the deceased had a will or if their estate exceeds a certain value. The probate process involves: Appointing an executor (if there’s a will) or an administrator (if there’s no will). Identifying and valuing assets. Paying debts and taxes. Distributing the remaining assets to heirs. Probate can be time-consuming, often taking several months or even years to complete. Working with an attorney can help you navigate the process efficiently and ensure compliance with North Carolina laws. Affidavits of Heirship In some cases, an affidavit of heirship can be used as an alternative to probate in North Carolina. This legal document is typically used for small estates or when there’s no will. It allows heirs to claim ownership of the property without going through the full probate process and is typically allowed when the decedent / property owner died more than two years in the past. As long as all the heirs are accounted for, affidavits of heirship can often be completed without significant legal cost or additional time commitment, but not all inheritance scenarios will qualify for affidavits of heirship. Heir Property: A Growing Concern Heir property refers to land that has been passed down through generations without a will or clear title, often resulting in fractional ownership among multiple heirs. This type of ownership can create significant challenges for those who inherit the land, making it difficult to sell, manage, or use the property effectively.    Prevalence in North Carolina Significant portion of land: A 2023 study by Wake Forest Law found that approximately 4% of all property in North Carolina is heir property. This translates to roughly 88,000 properties, encompassing over 537,000 acres.    Concentrated in underserved communities: Heir property is disproportionately prevalent in low-income and minority communities, particularly in rural areas. This can perpetuate cycles of poverty and limit economic opportunities for these communities.    Dollar Value Billions of dollars in value: Estimates from the Conservation Trust for North Carolina and Wake Forest Law place the total value of heir property in North Carolina between $1.86 billion and $2 billion. This represents a significant amount of wealth tied up in land that is often difficult to access or utilize due to unclear ownership.    Lost economic potential: The inability to effectively manage or sell heir property can hinder economic development and limit wealth-building opportunities for individuals and communities.   The prevalence and challenges associated with heir property underscore the critical importance of managing estate matters proactively. Tax Implications of Selling Inherited Land When you sell inherited land in North Carolina, you might have to pay capital gains tax on the profit. Essentially, this is a tax on the increase in the property’s value from the time you inherited it to the time you sell it.    How Capital Gains Tax Works: Cost Basis: Your cost basis is usually the fair market value of the land on the date the previous owner passed away (this is called a “stepped-up basis”). This is important because it often significantly reduces your potential capital gains.    Sale Price: This is the price you sell the land for. Capital Gain: The difference between your sale price and your cost basis is your capital gain. If you sell for more than the stepped-up basis, you have a capital gain. If you sell for less, you have a capital loss.    Tax

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