Hello World! Welcome Friends! If you’ve inherited a plot of land you don’t need or want to get rid of the property you bought decades ago yet never used, now might be the right time. Due to the scarcity of available land, the demand for land has steadily grown over the past decade, with prices rising at the second-strongest pace of 6% compared to other commercial real estate types.
If you’re ready to sell your land, here are some suggestions to help you maximize the return on your investment.
Sell the Land to a Cash Buyer
Selling to professional investor companies is a simple land selling method for getting rid of the piece of land. Vacant land buyers make the transaction simple; you won’t need to take pictures, post a for-sale sign, or answer calls from potential buyers, making the process significantly faster.
They will conduct virtual research of the property, provide you with an offer, and pay you in cash for land in less than two weeks. Unlike a real estate agent, the land-buying company won’t charge you any fees, and you won’t have to cover closing costs, making sure you maximize the profit.
Ensure an Easy Access to the Property
When left untreated, vacant land quickly develops an overgrowth of weeds, sprouts, saplings, and other vegetation, making it challenging for potential buyers to envision how the property might be used. Even worse, if the land is heavily overgrown or cluttered with trash or other waste, potential buyers may downplay any offer they make.
Have overgrown premises mowed and hire a dumpster in Atlanta (if this is where you are based) to remove existing trash or debris before putting the property for sale. You should consider establishing a suitable mowed area for parking near the entry and create clear walking routes across the property to entice potential purchasers to explore the plot.
Gather All Necessary Information About the Property
To accurately assess property for building, buyers may need to invest a lot of time, effort, and money. You can help speed up the process by getting a land survey done and reviewing it to get actual knowledge of important data. Learn about the lot’s size, shape, and acreage and provide answers to the following questions:
- Are there utilities for phone and power, and where would they connect?
- Has any planning or soil testing been done for a septic system?
- Are the access roads paved? Who is responsible for the upkeep?
- Has the site been surveyed and the borders marked?
- I would like additional information of “What central heating or boiler installation have you had recently?
To ensure that potential land buyers receive the most comprehensive information about the property, you can also mention the land’s topography and any special land usage rights.
Be Careful When Setting a Price
Determining your asking price is one of the most crucial steps to getting rid of an unwanted piece of land. Setting a reasonable opening price is essential as it would influence the market’s perception of your land’s appeal and affect how long it stays on the market. That being said, don’t focus exclusively on the opening market price. You can modify it later as you consider the market’s feedback. Also, be prepared to leave some space for negotiating the price down so that the buyer is satisfied, but you’re still happy with your profit.
Contact Adjoining Land Property Owners
If you’re having trouble selling your land, don’t ignore the property owners in the surrounding area. If you manage to sell the property to a neighbor, you won’t need to create a marketing strategy to advertise the sale of the land or pay a realtor’s commission. So, send a letter to every property owner within a certain distance of your vacant land to reach numerous individuals at once. Another option is to go and talk to them directly.
Get All Set for a Smooth Closing of Purchase
Make sure the title is clear before putting your land up for sale. Any unforeseen obstacles, including liens, access easements, unpaid taxes or assessments, or incorrect documentation, could endanger the transaction or postpone the closing. It’s crucial to document deeds and confirm legal ownership accurately. It’s also a good idea to visually evaluate the land in addition to having your papers in place. If you haven’t looked over the property recently, ensure that nobody is dumping construction waste, old automobiles, or appliances.
Final Thoughts
Finding prospective buyers for your unwanted land should be easy if you’re using these simple land selling tips. Before you even put the property on the market, gather the necessary documents and information, know the property zoning, and set the right price. Selling your property to “we buy land” companies means you’re avoiding real estate brokers, which speeds up the process while ensuring a fair cash offer for your land.
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Toodles,
These are great tips for selling land and thanks for this.