Saturday, March 12, 2011

How to Sell Your Vacant Land

Many people own a piece of vacant land, but don’t know what to do with it. Vacant land is unoccupied property that is not currently being used. In contrast to raw land, vacant land may have utilities and off-site improvements, but neither types of land have any structures. The reasons for selling vacant land are many, but today’s economy has many people needing to sell their vacant land to generate income. Still others simply do not want the ongoing taxes and maintenance fees associated with holding onto a piece of vacant land and are just ready to sell.
When you want to sell your vacant land, you will want to know as much about the property as possible. This will make it easier to answer questions from potential buyers. There are aspects like the dimensions of the property, the zoning of the property and what amenities are available at the property that are bound to come up in any sale of vacant land. Without a clear understanding of the land use for your vacant lot, you are not likely to find a buyer quickly. If you are unable to take the time to gather information about your vacant land, you may be able to sell to an investor who will do the research on the property for you.
You can start gathering data before your sell your vacant land by visiting or contacting the county’s planning and zoning department and requesting a plot map. A plot map will contain information about easements, lot dimensions and the building area. Zoning is especially important as it may be commercial, residential, multi-family or agricultural. Additionally you should know what kinds of utilities are available on the property. Buyers will want to know if they are going to face a significant expense bringing in utilities like electricity, water and sewer. You can check with the utility provider to make this assessment.
It is a good idea when you want to sell your vacant land to have the property surveyed. It is only necessary however if the property lines are unclear. Make sure property corner posts are clearly marked and easy to see for prospective buyers. A survey can also help to show the grade of the land which is vital information to its development. Getting a survey is well worth the money for the information it provides and the visual markers on the property for showing.
Pricing your vacant land is one of the harder parts of when it comes time to sell. You can be assured that if your property is rather vertical, it isn’t going to price out as well as vacant land that is flat and level. To sell your vacant land at the right price, you are going to want to visit comparable properties to be sure that the lots are truly comparable. You can get this information on your own or visit a real estate office and request a market analysis.
A quick and easy way to sell your vacant land is to work with a real estate investor network. They will purchase your vacant land for cash and with fast hassle free closing. Investors will not however pay top dollar for your vacant land, but the cash offer will be fair and is often worth the lack of headaches when compared to selling your vacant land on the traditional real estate market.


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