Selling land distinctively varies from selling houses or other real estate properties. The entire business endeavor can be challenging as it caters to a more exclusive market and involves a strategic approach. Whether you’re selling an inherited or unused land for extra cash, don’t want to pay real estate property taxes, or want to dispose of it as soon as possible, these five tips can help increase your chances of securing a more profitable and faster sale.
Prepare your land
Before showing your land to potential buyers, you must make it as presentable as possible. Your goal should be for motivated buyers to see your land’s full potential to reduce the chances of them asking for a lower selling price. Remove any issues from your property, such as overgrown weeds and trees, garbage, fallen twigs and leaves, unnecessary vegetation, and any item that can discourage prospective land buyers.
If there are unsightly bare land spots, you can plant wildflowers to make your property visually appealing. Fix any broken fences and ensure that potential buyers can easily navigate around your land during viewings. If you’re unable to handle this endeavor by yourself, consider hiring professionals to tidy up your property.
Address possible issues
Inaccurate land information and unresolved property issues can significantly affect your chances of selling your vacant land faster. To ensure that you’re giving your prospective buyers accurate information, have your land professionally surveyed before listing it on the market. Check if there are existing deed restrictions and covenants so you can efficiently disclose them to your motivated land buyers. If there aren’t any, consider adding some so you can safeguard the property’s value. For example, you can include a deed restriction prohibiting future owners from keeping livestock or using the land for business endeavors that can impact the value of neighboring properties.
Ask your local zoning office for the current zoning laws and any possible changes that can influence your property’s marketability. Solving potential land concerns early on can put you on a better sale footing as you’ll be able to provide your buyers with all the necessary information to help them make an informed decision.
Price your land wisely
Your price ultimately dictates your land’s selling timeframe. Overpricing your property can cause it to stay on the market longer than necessary, while pricing it unreasonably low might only lead to disappointment. Set a competitive price that can attract motivated buyers but leave enough wiggle room for negotiation. Check the latest market trends and research the prices of comparable neighboring properties to give you an idea of what is acceptable.
You can also have it professionally appraised to determine its value or work with a real estate agent, as they are well-versed with the market conditions and can efficiently guide you through the process. However, if you urgently need a quick sale, you might need to lower your selling price and give them an attractive deal so that you can secure the transaction as fast as possible.
Exhaust all available marketing avenues
Marketing plays an essential role in selling your land quickly. Start within your social network; inform your relatives, friends, workmates, and other acquaintances that you’re selling your property. Reach out to your neighbors where your land is located, as they can be a great source of leads. Even if they’re not interested, they can get the word out to their respective social networks, increasing your chances of attracting a motivated buyer.
Take as many high-quality photos of your land as possible and ensure they feature every angle. Since you’re working with vacant land, aerial images of your property can help potential buyers see its potential. If budget permits, hire a professional photographer as they can efficiently highlight your land’s best features. Place a classified ad in your local newspaper and post or pass out flyers in public places within your neighborhood. Customize the ‘For Sale’ sign that you’ll be placing on your property, and remember to include your contact information and other essential property details. Put up the sign where passersby can easily see it.
If you’re active on social media, share your listing regularly on all of your social media channels. Be sure to add a compelling description of your property with the high-quality photos or videos you’ve taken. Describe your land’s characteristics in detail, and don’t forget to include its surroundings, especially essential establishments such as hospitals, schools, and any recreational facilities that might interest your prospects. Make sure to establish the purpose of your land on your property description so that motivated buyers are aware of what they can use it for.
Look for free and reputable listing sites with active users and generate a lot of traffic. Join online community groups for real estate sellers and check for recommendations of land sellers that have successfully sold their properties. Advertising your land on these websites will not only save you a lot of money but can also increase your chances of coming across a quality prospect.
Look for land buyers to sell your land fast
One of the easiest ways to sell your land quickly is by working directly with land buyers. If you’re well-versed with the entire selling process and confident that you can close the deal with minimal outside help, create a land purchase agreement and reach out to an escrow or title company to handle escrow. You should also consult with a real estate lawyer to ensure that all your paperwork and documentation are legally compliant.
Another option to sell your land quickly is to sell it to a reputable land-buying company that buys land from property sellers without any middlemen. These land-buying companies can offer you a fair price and ensure a quick sale, no matter your property’s current condition.
Make sure to respond quickly to all inquiries made by potential buyers. Be prepared to answer their questions about your land, and remember to be as transparent as possible. Ensure that you’re always available for showings, no matter how busy your schedule is.