Friday, March 4, 2011

How to Sell Your Land

Right now many people need to find new ways to make ends meet. Retirement funds are dwindling fast, jobs are being cut back or ended completely and ways to generate passive income are becoming fewer and fewer. For all these reasons, selling land has become a financial safety net for many people and the best way to turn your raw land into a profit is to sell it.
It isn’t difficult to sell your land; especially raw land. Raw land is ground that has no buildings, has never been farmed and is not perked and tested for water and septic. There are many factors that will affect the profit you can make when you sell your land. Knowing the property’s zoning, whether commercial, residential or agricultural, will play a big factor in the final numbers as more money is gained from residential land than from agricultural land. Location also plays a huge part in the final number when you are trying to sell your land for cash.
The first thing you should do when you are ready to sell your land is to get the property surveyed. This will provide you with the exact dimensions of your property and will also reveal any soil issues that may be present that could affect the sale as well. Once surveyed, you can contact your local courthouse to find out the zoning of your raw land; again this will be commercial, residential or agricultural.
Next you will want to conduct some market research to determine the value of land in the area. You can do what is called a comparative market analysis by searching the MLS for similar properties. Make sure you are only comparing apples to apples or raw land to raw land. Land that has been perked and tested will likely have a higher ticket price so be aware of all factors when determining what you think would be a fair price. You could go to a real estate agent to do this research for you and to market the property for you as well, but in the end this could cost you a lot of money in commissions and fees. Not to mention that to sell your land on the traditional market can take a long time.
Today many people are in the situation where they need to sell land fast to get cash to keep their families afloat. The ideal selling situation when you need to sell your land fast is to turn to real estate investors to buy your land. There are no fees, no closing costs and usually the deal can be closed in as little as 7 days. There is a price difference though when selling to investors. You will have to be willing to lower your asking price considerably, but if it is fast cash you need, investor networks are the way to go to sell your land.

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