Selling land poses a unique challenge, especially in tough economic times. If you have a piece of land to sell, try utilizing the tips below to make the sale process as smooth as possible.
Clean Up the Property
Just as homeowners take the time to clean, organize and repair a home prior to a sale, it’s important to make land look appealing to potential buyers. Clear the area of any debris, such as trash, junk or sticks. Consider getting rid of weeds, old tree stumps or any other unsightly growth that might turnoff buyers. A bit of effort is well worth the time here, even if it involves paying a third party to help out. Remember that you want potential buyers to have a positive impression of the land when they see it.
Mark Property Lines
Use flags or spray paint to clearly mark property lines for the land that you are selling. This helps buyers see exactly what they are paying for. It’s especially important if neighboring land is unsightly or undesirable. By marking the boundaries, you can help buyers focus on the purchase rather than making them spend extra time trying to figure out exactly where the boundary lines lie.
Talk to Your Neighbors
Your first stop for potential buyers should be your neighbors. Find out who owns the land neighboring you, and ask if they are interested in your property. It is common for landowners to expand their ownership to nearby properties, and if your neighbors are interested, it can make the sales process much shorter and easier for all parties.
Talk to Developers
If you live near a metro area or an area of high construction, it is possible that developers will be interested in purchasing your land for commercial projects. Drive around the area and look for signs that list the name and number of developers that are building properties in the area. Call the companies and ask if they are interested in the land that you are selling. Although many land owners do not want to sell to developers, this can be the route to receiving the highest possible price for your land.
Post the Sale Online
The internet has greatly increased the geography of potential land buyers. Websites such as landsofamerica.com and craigslist.org advertise hundreds of properties available for sale across the United States. List your property online to reach the greatest number of potential buyers from across the country. Be sure to include an appealing description and photos of your land to entice buyers.
Provide Financing Options Mulching Melbourne
Advertising that your land is available for purchase with financing options can greatly increase the number of potential buyers. Consider options that make sense for the property you are selling and for your financial situation. For example, if you are selling a piece of land for $5,000, you could offer buyers the option to pay with a $500 down payment and $100 monthly installment payments. Be sure to charge interest on the outstanding balance that is in line with current market interest rates. Financing options make buyers happy and often allow you to receive a higher market price for your land.
If all else fails, hire a real estate agent who specializes in the sale of land and rural properties. This should be your last resort, since real estate agents charge a portion of the sale price as a commission fee. Real estate agents can help find potential buyers and can also help place your land at an auction. Auctions sometimes produce surprisingly high sales prices in areas that are in high demand. Be sure to set a minimum sales price with your real estate agent so that the land is sold at a price that meets expectations