How To Sell Land Without a Realtor?

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How To Sell Land On Your Own

Selling vacant land without a realtor can be a viable option to save on real estate agent commissions and have more control over the sale. However, it does require more effort and careful planning. Here’s a comprehensive guide to help you successfully sell your vacant land without a realtor:

Can I Sell My Land Without a Realtor?

The idea of selling vacant land without a real estate agent may seem intimidating, but it is a very realistic option. For one thing, cutting out the realtor’s commission can save sellers a significant amount of money on their sale.

Another reason to consider selling your land yourself is that you can often sell it faster than with a realtor. Real estate agents have many tasks they must complete in the sales process, from listing to closing, and this can take time. Land sales, on the other hand, typically go much more smoothly because there are less steps and documents required.

Additionally, some buyers are looking for owner financing on land purchases so they can avoid taking out a large loan and the associated credit, work history, and financial checks. This is a great opportunity for land sellers who want to speed up their sales and get their property in front of more potential buyers.

Step 1: Determine the Best Time to Sell Your Land

According to Land.com’s 2023 Land Report, the best time of year to sell vacant land is in the spring. In 2022, the average sale price of vacant land in the spring was $11,439 per acre, compared to $10,372 per acre in the summer, $9,841 per acre in the fall, and $9,309 per acre in the winter.

The best day of the week to sell vacant land is on a Thursday. In 2022, the average sale price of vacant land on a Thursday was $10,987 per acre, compared to $10,876 per acre on a Monday, $10,765 per acre on a Tuesday, $10,654 per acre on a Wednesday, and $10,543 per acre on a Friday.

It’s important to note that these are just averages, and the actual best time to sell your vacant land will vary depending on your specific property and the local market conditions. However, Land.com’s statistics can give you a good starting point for planning your sale.

With that being said, it’s never a good idea to try and time the real estate market. Interest rates are going up, and the housing market is down. So the best time to sell your vacant lot is when you’re ready.

Step 2: Price Your Land Competitively and Accurately

It can be much harder to sell vacant land than a house. This is because people need homes more than they need land. As a result, it is not uncommon for vacant land to spend months or even years on the market before a sale is made.

One of the best ways to speed up the process is to price your land for sale right. The price is a massive element in the sale of any property, but it can be especially important when selling land.

To determine a fair price, consult with a few local real estate agents who have experience with land sales. Be sure to tell them what you plan on doing with the property, and ask them what they think it could be worth.

In addition, be sure to take a look at the property’s assessed value on the Property Appraiser’s website. This is the official valuation of the property and will be needed for legal documents in a sale. Also, consider whether your land has access to utilities that would increase its value.

When selling land, it is important to consider the location and property features to determine its value. This will help you set an appropriate asking price and attract potential buyers. Research comparable vacant land sales in your area to understand market trends. You may also want to consult a land appraiser for a professional opinion on your property’s value.

When listing your property online, be sure to include a detailed description of the land’s topography, views, and amenities. This can help buyers envision what they can build on the land and increase interest in your property.

Additionally, it’s important to be responsive to inquiries from buyers and schedule showings for those who are interested in your lot. Be prepared to negotiate offers with buyers and provide any documentation requested. It’s a good idea to have a real estate attorney review any paperwork prior to closing to ensure all required documents are in order. Although the process of selling your raw land without a realtor can be more time-consuming and challenging, many people find it worth the effort to avoid paying real estate commissions.

But here’s the good news: you can use the same tricks that real estate agents use to figure out the best price for your property.

Comparing with Other Vacant Lots: Start by comparing your lot to other lots that have been sold recently in your neighborhood. Check out lots that are like yours in size, age, and condition. This will help you find the right price for your land.
Make Your Own Report: Real estate agents usually make a special report called a “CMA” or comparative market analysis, to do this. But you can do it yourself too. Just be honest when you describe your land to make sure your report is right. If you’re not sure, ask a friend or family member for help.
Appraisers: If you want to be super sure, you can hire an expert called an “appraiser.” They’re really good at figuring out how much your land is worth. If the person buying your land needs a loan from a bank, the bank might ask an appraiser to check your land. In most states, you can hire an appraiser for around $300 to $435.

Pricing Strategy:

Competitive Pricing: Price your land competitively based on the research you did earlier. Setting a realistic and fair price will attract more potential buyers.
Negotiation Room: Be prepared to negotiate, but have a clear bottom-line price in mind that you’re willing to accept.

Step 3: Prepare Your Land For Sale

Once you know how much your land is worth, it’s time to get it ready for sale. This may involve clearing any brush or debris, making any necessary repairs, and taking high-quality photos of the property.

There are a lot of things to do before you can sell land. For example, a property may need to have a soil percolation test done before buyers can even consider it. This is because potential home builders will need to know how quickly the ground drains so they can build a foundation, and whether or not there are any setback restrictions that could affect the layout of a new home.

Another consideration is the distance from a nearby road, as this will impact how fast emergency services can get to the property. It’s also worth investigating any zoning restrictions that might affect how the land can be used. This is a job best left to a real estate agent who has a pulse on the local community and can research information for you.

One way to make your land stand out is by offering owner financing, which acts as a trump card in the negotiation process. This is particularly attractive to potential buyers who are unable to secure a traditional mortgage because they lack the credit history necessary to qualify.

Most ways to advertise vacant land or property require photos, so you’ll want to make sure yours look good. A drone photography service is the best way to get high-quality photos, but you can also use a camera or smartphone with a wide-angle lens.

Address any issues that might turn off potential buyers, such as neglected landscaping or poor road access. You may need to remove heavy underbrush or work with local authorities to establish a new road access point.

You’ll also need to ensure you have the proper paperwork for a successful sale. Check with a real estate attorney or the laws in your state to find out what is required. For example, most sellers will require proof of funds to show you can cover the down payment and closing costs. This can be a copy of a bank statement or money market account with the date, name of the buyer and balance listed. You might also need a zoning letter or other documentation to verify the permitted uses of your land.

Property Improvements: Assess if there are any improvements you can make to enhance the value of your land. This may include clearing overgrown vegetation, addressing drainage issues, or getting a land survey done.

Step 4: Market Your Property

Unlike homes, land requires specific marketing and advertising to attract the right buyers. Focus on highlighting development possibilities, utility accessibility, and any land enhancements that have been completed. This is important to help buyers imagine how they could utilize the property and justify your asking price.

You may receive a lot of casual messages and calls from interested parties, but don’t let this deter you from moving forward with your sales process. Respond to all reasonable questions and inquiries quickly. Providing quick responses can build trust with buyers and speed up the sales process. Consider using a separate phone number to field calls to your land listing to keep your personal phone number private.

Since the sale of land has its own set of legal documents, be sure to consult a real estate attorney to ensure all paperwork complies with your state’s laws. They can also review offers and negotiate contracts on your behalf if necessary. Handling inquiries and negotiations yourself can be challenging, but it’s also a great way to save money on commission fees.

Many people decide to sell their land for a variety of reasons. They might need to pay their property taxes, want to retire early or be unable to keep up with mortgage payments. Whatever the reason, selling vacant land can be a complex process. However, there are a few things you can do to help your sale move quickly and easily.

Market your land by using multiple channels to reach potential buyers. Make sure you use websites that are specifically geared towards selling land and social media to get the word out. You may also choose to hire a professional real estate agent.

When marketing your land, make sure to highlight any amenities it has such as a water source or electricity access. These features can increase the value of your land. Lastly, make sure to price your property correctly. Overpricing will make your land less attractive to buyers.

Offering owner financing can be a big draw for potential buyers. It can give you an edge over other sellers and help you close the deal.

There are many ways to market your lot for sale. Here are some of the most effective methods:

Online Listings: Create compelling online listings on real estate websites, classified ad websites, and social media platforms. Include high-quality photos, detailed descriptions, and all relevant information about the property.
For Sale Sign: Place a “For Sale” sign on the property if it’s easily visible from the road. A yard sign can help attract buyers who are driving through your neighborhood. Make sure your sign is clear and easy to read.
Local Newspapers and Magazines: Consider advertising your property in local print media if it’s a common way for buyers to find land in your area.
List your home on the MLS. The MLS is a database of homes for sale that is used by real estate agents. When you list your lot on the MLS, it will be exposed to a wide range of potential buyers.
List your home on Craigslist. Craigslist is a popular website where people can list items for sale and rent. Listing your land on Craigslist is a free way to reach a large audience of potential buyers.
Print sales flyers. Print sales flyers that include information about your lot, such as the price, square footage, and zoning. Hand out flyers to interested people or leave them at local businesses.
Share your listing on social media. Share posts about your listing on social media sites like Facebook, Twitter, and Instagram. Be sure to include photos and a link to your listing.
Hire a professional photographer. Professional photos can make your land look its best and attract more buyers.

Step 5: Host Open Houses & Manage Showings

Unlike homes, vacant land is a blank slate for potential buyers. This means that you will need to take extra steps to make your property appealing to buyers when showing it. This could include removing any trash or litter, mowing the grass or clearing away leaves and snow piles. You may also want to consider putting up a sale sign as this will help inform people in the area that your property is for sale and can reinforce word-of-mouth marketing.

Another way to appeal to potential buyers is to offer seller financing. This can be a great way to speed up the process of selling your land by allowing buyers to purchase the property sooner than they would have been able to afford to do otherwise.

Selling FSBO does take a bit of work but can save you a lot of money. If you have the time and are familiar with the process of selling real estate this is a great option for those looking to avoid paying the fees associated with hiring a real estate agent.

During your open house, you should be available to answer questions and provide information about the property. You can use the information you gather to market your property online. You should also consider recording a video tour of the property and creating short snippets for Instagram Stories or TikTok to market your open house even further.

It’s also a good idea to create an open house checklist to ensure you don’t forget any key details about the property. Additionally, you should consult a real estate attorney to ensure your paperwork is in order and complies with state laws.

An open house is a great way to market your land to buyers in your neighborhood and surrounding areas. To host a successful open house, keep these three things in mind:

Choose the day and time wisely. Don’t host an open house on a weekday at noon. Instead, choose a time when people have more time to come, such as Sunday afternoon.
Promote the open house. Let people know about your open house by listing it on the MLS website and sharing the news on social media. You can also tell your friends and family, and put up signs in your neighborhood.
Print brochures. Create brochures with photos and information about your vacant lot. You can give these out to potential buyers at the open house to answer their questions and increase your chances of getting an offer.

Once you list your land for sale, you’ll hopefully start getting calls from buyers who want to see it. It’s great to be busy, but managing showings can be hectic and time-consuming. Here are a few tips:

Keep track of your appointments and contact information. Use a tool like Google Calendar or a spreadsheet to keep track of your showings. This will help you stay organized and avoid missing any appointments.
Let the buyers tour the land on their own. It’s best not to be there when buyers are touring your land. Your presence can be intrusive, and the buyers may not feel comfortable asking their agent honest questions if you’re around. On the other hand, if you have a lot that is completely wooded, some buyers may not mind you giving them a tour.
Schedule showing appointments back to back. This will give the impression that there is a lot of interest in your lot. It will also reduce the number of times you have to be present for showings.
Respond promptly to all buyer questions. When buyers ask questions about your property, it means they’re interested. Be sure to answer their phone calls, text messages, and emails right away. If you don’t respond promptly, they may lose interest and look at other properties.
Place disclosure forms and property fact sheets in a noticeable spot, such as on your FSBO sign. This way, buyers can learn more about your property without having to ask you questions.

Following these tips can help you manage showings effectively and sell your property quickly.

Step 6: Review Compare and Negotiate Offers

Even though you are selling your property without a real estate agent, the basics of negotiating offers are still the same. You can either accept, decline, or ignore offers (but we don’t recommend ignoring them!).

We suggest that you review all offers and make a decision after thinking about them carefully. Even if an offer is low, you should counter it with a price that you would be willing to accept. If the offer still doesn’t match your expectations, you can politely decline it.

Two advanced tactics that real estate agents use are countering offers and calling for the highest and best offer. Land sellers who are selling their land without an agent should learn these two tactics.

Countering an offer means coming back to the buyer with a new price or terms. For example, if the buyer offers you $30,000 for your property, you could counter with an offer of $32,000.

Calling for the highest and best offer means telling all buyers who are interested in your property that you want them to submit their best and final offer. This can be a good way to get a higher price for your property.

If you are not sure how to negotiate an offer, you can talk to a real estate agent or a lawyer for help.

Here are some additional tips for negotiating offers:

Be prepared to walk away from a deal. If you are not happy with the terms of an offer, be prepared to walk away from the deal. This will show the buyer that you are serious about getting a fair price for your property.
Be patient. It may take some time to find a buyer who is willing to pay your asking price. Don’t be afraid to negotiate back and forth with buyers until you reach an agreement that is fair to both of you.
Get everything in writing. Once you reach an agreement with a buyer, be sure to get everything in writing. This will protect you in case there are any problems later on.

Negotiating offers can be a challenging process, but it’s important to remember that you are in control. By following these tips, you can increase your chances of getting a fair price for your property.

It’s important to consider a buyer’s intentions before accepting an offer. Cash offers are often preferred by sellers, but it’s also a good idea to screen for serious buyers that will conduct the necessary due diligence on a raw piece of land. Consider adding a contingency in your contract that stipulates the sale will only be finalized upon receiving satisfactory answers to all of their questions.

Selling a piece of property, especially vacant land, is an extremely complicated process and requires knowledge beyond the physical features of your lot. Understanding how to value land is essential for a successful sale, and it’s highly recommended that you use a professional appraiser to help.

Home buyers typically focus on a structure that is already built, and tend to pore over minor details such as the type of crown molding used. In contrast, prospective land buyers are more concerned with the potential of their purchase and how it will fit into their future plans. This is why it’s important to negotiate with a clear plan in mind and a strong knowledge base to help you secure the best deal.

Negotiate with buyers. When you receive an offer on your land, you’ll need to negotiate the price and terms of the sale. Don’t be afraid to haggle! You want to make sure you’re getting the best possible price for your land.

Counteroffers: Be prepared to receive counteroffers from buyers and negotiate terms until both parties agree.

When you receive an offer on your property, it will arrive in the form of a purchase and sale agreement, also known as a buy-sell agreement. This is a legally binding contract that outlines the terms of the sale.

Since you are selling your property without a real estate agent, it is important to understand everything in the purchase agreement before signing it. Here are some things to pay close attention to:

Is the offer cash or financed? Most offers are financed, which means the buyer will need to get a loan to purchase the property. This process can take some time and may involve additional steps, such as an inspection and appraisal. Cash offers are often preferred because they are simpler and faster, but there are some exceptions.
Are there any contingencies mentioned? A contingency is a condition that must be met before the sale can go through. For example, a common contingency is a land sale contingency, which means the buyer must sell their current property before they can buy yours. Consider each contingency carefully and ask yourself if it is acceptable to you.
Does the buyer offer a reason for their price? Most offers will simply list the price without explanation, but occasionally buyers will offer less for a specific reason. For example, a buyer might offer less because the property has to be cleared. If you are aware of any improvements that need to be made, you may want to consider accepting the price reduction as a improvement credit.

If you receive an offer that is significantly lower than your asking price or includes contingencies that you are not comfortable with, you can reject it outright. However, if the offer is in the ballpark but not quite what you’re looking for, you can consider making a counteroffer. To do so, you can modify the offer form and send it back to the buyer with your preferred terms.

When making a counteroffer, be careful not to come across as too aggressive. Being too pushy may turn off the buyers and make them less likely to negotiate with you further.

After carefully considering everything mentioned in the offer, your options are to accept, reject, or counter the offer.

Here are some additional tips for evaluating offers:

Compare the offer to other recent sales in your area. This will help you determine if the offer is fair.
Consider your own needs and goals. What is your timeline for selling? Are you willing to make any improvements or concessions?
Get help from a professional if needed. A real estate lawyer or accountant can help you understand the terms of the offer and make an informed decision.

Selling a vacant lot can be a complex process, but by understanding the basics of evaluating offers, you can increase your chances of getting a fair price for your property.

Step 7: Allow The Buyer To Complete Their Due Diligence

Once you accept an offer on your property, the buyer has a period of time to do their due diligence. This means they have a chance to inspect the land and make sure it’s a good buy.

During this time, the buyer may do one or more of the following:

Get an inspection. This is where a professional goes out to the property and looks for any problems with it.
Get an appraisal. This is where a professional estimates the value of the vacant lot.
Get mortgage underwriting. This is where the buyer’s lender makes sure that the buyer is qualified for a loan and can afford the property.
Do a property title search. This is where a lawyer or title company makes sure that the seller has the legal right to sell the property.
Do a final walkthrough. This is where the buyer goes to the property one last time before closing to make sure that everything is in order.

If any problems are found during the due diligence period, the buyer may ask the seller to fix them or they may ask for a lower price. During this time, both the buyer and the seller can still back out of the deal. However, it’s important to talk to a lawyer before you do this.

If everything goes smoothly, the final step is the closing. This is where the buyer signs all the paperwork and officially takes ownership of the property.

Step 7: Close on Your Vacant Lot

The closing appointment is when you and the buyer sign all the paperwork to officially transfer ownership of the land. This usually happens at the office of a real estate agent, attorney, or title company.

You’ll sign a lot of documents at closing, including the deed transfer, which says that the house now belongs to the buyer. After closing, you’ll get a statement that shows how much money you made from the sale and how much you’ll get after paying closing costs. In most states, you should get your payment either by wire transfer or a check sent in the mail later that same day.

Once you’ve signed all the paperwork and gotten your money, all that’s left to do is hand over the keys, if you have a gate on your lot to the new owner and celebrate your successful sale!

Here are some additional tips for closing on your lot:

Be prepared to sign a lot of paperwork.
Bring a valid form of identification, such as a driver’s license or passport.
Review all of the paperwork carefully before signing it.
Ask questions if you don’t understand anything.
Bring a check or send your wire transfer a day or 2 ahead of time to pay for your closing costs.

Closing Costs for Sellers

When you sell your vacant lot by yourself (for sale by owner), you will have to pay the following closing costs:

Buyer agent commission: This is a fee that you pay to the buyer’s real estate agent. It is usually 3% or more of the final sale price of the property. (This is assuming your buyer is represented by a real estate agent)
Attorney fees: It is a good idea to hire a real estate attorney to help you with the sale of your land. They can draft the FSBO contract and help you avoid any legal problems. Attorney fees typically range from $150 to $500.
HOA fees: The Homeowners Association may charge a transfer fee when the ownership of the lot changes. This fee is usually between $100 and $400.

Closing costs can add up, so it is important to be aware of them before you start selling your property. You can talk to a real estate agent or attorney to get a more accurate estimate of your closing costs.

Paperwork For Selling Land Without A Realtor

The paperwork for selling vacant land without a realtor can vary from state to state. You can hire a local real estate agent or an attorney to help you with this. You can also search for a list of required documents on the website of your local government.

Here are some of the most important documents you will need:

Professional appraisal: This is a report from a professional land appraiser that estimates the value of your property. This is important if you are working with a lender.
Preliminary title report: This report shows the history of ownership of your land, the current owner, and a description of the property.
Pre-inspection report: This is a report from a land inspector that lists any problems with your property. This can be helpful for both you and the buyer.

In addition to these reports, you will also need to sign a number of agreements and contracts. These include:

Original sales contract: This is the contract that you signed when you accepted the buyers offer. It contains the sale price and the seller’s disclosures from the previous seller.
Listing agreement: This is an agreement between you and the buyer that outlines the sale price, earnest money deposit, and other terms of the sale.
Final purchase and sales agreement: This is the final agreement between you and the buyer that outlines the terms of the sale.
Seller’s net sheet: This is a statement that shows all of the expenses that you will incur when you sell your home.
Settlement statement: This is a statement that summarizes all of the expenses involved in the transaction.

In addition to these documents, you may also need to provide other documents, such as a payoff amount for your mortgage, insurance records, HOA documents (if applicable), and mandatory disclosures.

Selling a vacant lot without a realtor can be a lot of work, but it can save you money. By understanding the paperwork that you need, you can make the process a little bit easier.

Is It Hard To Sell Land Without A Realtor?

No, it is not hard to sell vacant land without a Realtor, but it can be a lot of work. You will need to do everything yourself, including staging your land, holding open houses, handling paperwork, and negotiating with buyers. However, if you are organized and have a plan, you can sell your lot without a Realtor and save money.

Here are some key steps in selling a property without a Realtor:

Pricing: Pricing your land correctly is important. You can do this by researching the prices of similar lots that have recently sold in your area.
Marketing: The MLS is a database of vacant land for sale that is used by real estate agents. You can list your property on the MLS without a listing agent.
Paperwork: There is a lot of paperwork involved in selling a vacant lot.
Negotiations: It is important to know how to counter offers and request the highest and best offers from buyers.

If you are considering selling your property without a Realtor, be sure to do your research and create a plan. With a little effort, you can sell your land yourself and save money.

Here are some additional tips for selling your lot without a Realtor:

Take good photos of your land.
Write a clear and concise listing description.
Be responsive to buyer inquiries.
Be prepared to negotiate.
Get everything in writing.

Selling your lot without a Realtor can be a challenge, but it is possible with careful planning and execution.

Pros and Cons of Selling Land Without a Realtor

It’s important to know both the benefits and risks of selling your property on your own.

Pros:

Save money on commission: You can save 2.5% to 3% in commission by selling your lot without a Realtor.
Get on the market quickly: With some FSBO companies, you can list your land on the MLS in 24-48 hours, even without a real estate agent.
Have more control over the sale: You can directly communicate with the buyer or their agent, which can reduce delays and make the process faster.

Cons:

You’ll still have to pay the buyer’s agent commission: Even if you don’t have a listing agent, you’ll still need to pay a commission to the buyer’s agent, usually 2.5% to 3%.
Handling paperwork can be complex: Selling a Vacant lot involves a lot of paperwork, and it can be difficult to manage on your own.
You won’t have the support of a real estate agent: Selling a property without a Realtor can be challenging, and it’s helpful to have the support of a professional.
Poor Customer Service: If you’re selling your land by yourself (for sale by owner), and you don’t get help when you need it, it can be very expensive very quickly. Make sure to read reviews of the FSBO website to see what other people have said about the customer service.
Low Sale Price

Selling your land without a real estate agent can mean that you get a lower price than the fair market value of your property.

If you’re considering selling your lot without a Realtor, be sure to weigh the pros and cons carefully. It’s important to make sure you’re comfortable handling the paperwork and negotiations on your own, and that you’re prepared to pay the buyer’s agent commission.

Best Ways to Sell Your Land Without a Realtor

There are a few different ways to sell your property without a Realtor. The best way for you will depend on your specific situation and goals.

Sell to an iBuyer: iBuyers are companies that buy houses directly from land owners, often without the need for any improvements. This can be a quick and easy way to sell your land, but you may not get the highest price.
Sell to an investor: Investors are people who buy land with the intention of selling them for a profit. They may be willing to pay you less than market value for your land, but they can also help you sell it quickly.
Sell to a real estate wholesaler: Wholesalers are people who find motivated sellers and then put their lots under contract. They then sell the contracts to investors, usually for a profit. This can be a good option if you need to sell your lot quickly and you don’t mind getting a little less than market value.
List with a flat fee MLS company: Flat fee MLS companies charge a one-time fee to list your property on the MLS, but they don’t provide any other services. This can be a good option if you’re comfortable handling the sale of your property on your own.

No matter which option you choose, it’s important to do your research and understand the pros and cons before making a decision.

How to Sell Land Without a Realtor Near Me

Frequently Asked Questions


						
									How To Sell Land For Cash Without A Realtor?
					
						You can sell your land to companies that buy vacant lots for cash. Just know that, they will pay a lower market price for your land.
					
									How To Sell My Land Fast Without A Realtor?
					
						You can sell your land fast without a Real Estate Agent by selling your land "as-is", to a cash land buyer, land flipper or a land wholesaler.
					
									How To Sell My Land Without Paying Commissions?
					
						Land sellers can sell their vacant lot without having to pay Realtor commissions by working with a Flat Fee MLS company. They charge you a one time flat fee for listing your lot.
					
									Is It Easy To Sell My Land Without A Realtor?
					
						It's definitely more work to sell your land without a Realtor. Negotiations and complex paperwork can make the process overwhelming for some land sellers. But if you plan ahead of time and with a little assistance you can sell your lot without a Realtor and without any problems.
					
									Do I Need A Lawyer To Sell My Land Privately?
					
						You don't need to hire a lawyer to sell your vacant lot unless your the real estate laws in your state requirement it. But if you are selling your vacant lot without a real estate agent, it is recommended to hire a real estate attorney, who can help you with contracts and the closing process.
					
									How To Close On Vacant Land Without A Realtor?
					
						You can hire a local title company or real estate attorney for closing on a vacant lot.

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