It can be difficult to sell land compared to selling a home, but some pieces of land are quite desirable.Use comparable properties to price your land.If you bundle your land with other parcels, you will be able to price the land higher than if you don't.Sell your land with the help of a real estate agent or on your own.A real estate attorney can help you close the sale on your land when you get the offer you want.
Step 1: Find out how much your land is worth.
You can either hire an appraiser to evaluate the property and suggest a reasonable price, or do your own research and set a price based on the prices of comparable properties.Consider nearby projects that might affect the land's value, as well as compare it to similar properties, to determine the value of your land.If a similar parcel of land in the same area was sold for $50,500, but it was alsozoned for commercial use, you might estimate the value of your land at $60,500.Getting an appraisal is the best way to determine the value of your land.
Step 2: If you own any other property, consider combining it with the land.
Selling land along with a structure or multiple land parcels can result in a better price than selling the land on its own.If you have parcels with structures on them, combine them in a single sale.If you own 3 parcels of land in the same area, you could sell them all together.A buyer who is looking to purchase a larger plot of land or who needs multiple parcels for different uses could be attracted to this.You can offer the land as a bundle or as separate properties with different prices for each option.
Step 3: Do you want to offer seller financing?
Offering seller financing, also known as a land contract, will attract more buyers since they won't have to go through the process of getting a mortgage to buy the land and you can usually set a higher asking price.You won't get the full purchase price for your land up front.You'll make a payment agreement with the buyers.Until the property is paid in full, they will need to make regular payments.The buyer will need to make regular installments to the seller until the agreed upon price is paid in full.The buyer will usually have to make a down payment on a home.
Step 4: Maintaining your land will make it more attractive to buyers.
Before prospective buyers look at your property, do anything you can to make it look more appealing.It is possible to increase the attractiveness of the property, increase your chance of getting an offer, and fetch a higher price for the land if you take care of these tasks.Simple yard work tasks include mowing the lawn and trimming bushes.You can hire someone to do more intensive property maintenance, such as digging up a large stump or cutting down a dead tree.
Step 5: You can hire a real estate agent.
A real estate agent works for you to get the most money out of your property.They will market the property, negotiate with the buyer, take care of the necessary documentation, and advocate for you during the sale process.Selling a property is a full-time job and it can be mentally and emotionally taxing to do without a real estate agent.5% is usually the percentage of the sale price that real estate agents get.If your land sells for $100,000 and the real estate agent is entitled to 5%, they will get $5,000 after the sale closes.They don't get anything if the land does not sell.
Step 6: Land for sale can be advertised on real estate websites.
If you decide to sell the land yourself, you'll need to market it aggressively.It is easy for potential buyers to find out about your property if it is advertised on real estate and classified websites.Make sure your posts include detailed descriptions of the property and lots of photos that show the land's best features.If you are working with a real estate agent, you won't have to do this.They will market the land for you.
Step 7: Tell people about your land.
Tell everyone you know about your land for sale.If you're working with a real estate agent, you should tell people about your land.You can give people your card, hand out copies of the one sheet, or text them a link to the multiple listing service page for your property.The property will be provided with photos and information.
Step 8: Selling your land to the government is an option.
You can sell your land to the government in some countries.If you have a large plot of land in a remote location, this may be a good option.To preserve the land, or for other uses, your government may be interested in buying it.Find out how you can sell your land to the government if it's eligible and what their requirements are for the land they buy.If your property is eligible, contact the government through their website, email, or phone.If your land is outside the country, in the woods, or has wetlands on it, this may be of interest to your government as a wildlife preserve.If the land has natural resources such as coal, lumber, fresh water, or oil, the government may be interested in buying it.
Step 9: Hire a real estate lawyer.
It's a good idea to hire an attorney to help you through the closing process for a real estate transaction.They can help make sure the sale goes off without a hitch.They will be available to answer legal questions, review all documents involved in the sale, and protect your interests during the closing process.Ask your friends and family to recommend a good real estate attorney.Pick someone who handles real estate transactions on a regular basis.
Step 10: Negotiating with the buyer.
It can be difficult to get a higher price for your land if you've never done it before.This is a good reason to hire a real estate agent.If you decide to sell the land yourself and negotiate with the buyer or buyer's real estate agent, you will need to use some negotiation tactics to get the best price for your home.Not accepting the first offer and coming back with a higher price are some of the strategies to try.Renting the land is a backup plan if the offer falls through.You can offer extras, such as the riding mower you used to maintain the property.If the buyer is going to mortgage the property, it's important to know the prequalification amount.
Step 11: Accept an offer if you are happy with it.
If you get an offer that is what you want for the property or if it is close, then you can accept it.Even if it's slightly lower than your desired price for the land, it might be worth accepting an early offer because it will be the best one.If you're hoping to get $89,000 for your land, but someone makes you an offer for $85,000 right away, it might be worth taking.
Step 12: You can complete the closing paperwork on your own.
If you've hired an attorney, they will handle the closing paperwork for you.You don't need to sign the paperwork for the sale if you give them more information and documentation.Before signing the closing paperwork without an attorney, read through it carefully and make sure it's correct.