Do you have a parcel of land that is vacant? If so, are you ready to sell it? Selling vacant land can seem like a daunting task, but thankfully, there are some things to keep in mind before doing so.
This blog post will provide tips on the do’s and don’ts of selling vacant land. There are simple steps to sell vacant land, which include preparing the land, choosing the right price, partnering with an agent and so on. It’s just necessary to break down the process into simpler steps and come up with your checklist. Having your tasks listed in a written form will help you to go over it step by step without rushing.
Do’s of Selling Vacant Land
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Do Get Listed
Want to sell your vacant land faster? Well, you’ll need to list it on as many online databases as possible. You never know which site a potential buyer will be browsing at any given time. Unlike housing listings monopolized through popular sites like Zillow and Realtor, there is no such thing for this specific category of real estate property.
This can work in both ways. The lack of competition gives you more opportunities but also leaves room for some confusion about where exactly to post your listing so buyers can find you easier. Well, post everywhere!
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Do Hire a Real Estate Agent
Real estate agents are experts at marketing your property and attracting more potential buyers. They can also help you get a better price for selling your land by knowing current market rates, available incentives, and other important factors related to selling real estate quickly with minimal stress involved!
Hiring an experienced agent is highly recommended because they have access to all sorts of resources that will be able to maximize profits from the sale.
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Do Take Pictures
Take aerial pictures of your land to help sell it faster.
Walking through the property is one way to get an idea of its worth, but if you’re not in the market yet or don’t have time, use drone technology. Aerial shots give potential buyers a better sense of what they are buying and can be used as negotiating tactics with sellers who might want more money than the buyer wants to pay.
Take photos with scenic views that help set it apart from other properties on the market. This way, when potential buyers come to visit, they won’t even bother looking at any others because yours will stand out right away as being too perfect not to buy.
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Do Reach Out to Neighbors and Developers in Your Area
The adjacent homeowners and developers are the best chance for quick land sales. Talk to your neighbors and developers in the area when you have vacant land. They might be looking for opportunities like yours, and if it’s conveniently located, you’ll close the deal soon.
Don’ts of Selling Vacant Land
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Don’t Forget About Taxes, Permits, and Fees
When you sell vacant land, there are several things to consider. One such thing is the taxes that will be due when it’s sold: This varies from state to state and may include both property tax and additional fees for selling in certain locations.
You also need to check with your local authority about permitting before putting out any offers or listing. Some states require sellers to provide evidence they have received consent. Finally, an appointment should be made at least two weeks ahead of time so an appraiser can visit the site and set up the paperwork necessary for finalizing the transaction.
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Don’t Overprice or Underprice Your Property
It is an art to find the right price for vacant land, and sitting on a property without selling can be risky. If you set too high of a fee, nobody will want your parcel – but if it isn’t priced appropriately, buyers may overlook this valuable opportunity! It pays off to look at similar properties in the area or consult with professional agents when setting prices so that you don’t miss out on profit potential.
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Don’t Forget to Maintain the Land
Before you decide to invite potential buyers, the land must be presentable. Overgrown grass and weeds can make a large amount of space seem small and uninteresting while creating an unsightly appearance for any visitors who may pass by on foot or in a vehicle. Maintaining the vacant land will help them see how valuable it is, and they might be more willing to pay for its price tag.
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Don’t Be Rigid on Payment Plans
Be flexible on payment, as people might not have enough money upfront at first. You can work with a buyer and offer them an installment plan that suits their budget better than simply full-price cash upfront or even credit cards, which are more expensive in terms of interest rates and fees. The key here is making sure your listing highlights this option to attract more buyers.
Conclusion
If you want to sell your vacant land, there are a number of things you can do and others you shouldn’t do. For example, if you want your property to stand out from the rest in an area with lots of potential buyers, it might be worth hiring an agent with experience selling vacant lands. You should also reach out to neighboring landowners and developers who may have interest in developing the land.
When pricing any piece of real estate for sale, remember not to overprice or underprice as this will limit buyer interest. Being flexible on payment terms is another key takeaway! We hope these tips help make the process easier for you.
For more information, and to view exclusive listings across the United States, visit Land.US by clicking here
