The cost of selling a property falls into three categories – preparation, selling fees, and conveyance. There is no fixed amount as to how much the entire selling process will cost, it will depend on the property itself and how you choose to sell it.
There are two options in finding a buyer for your land. You can find a buyer yourself or use an agent. If you use an agent, it will be more expensive however the agent will take responsibility for price negotiation, advertising and making face to face contact with potential customers. Finding the buyer yourself is a lot cheaper however you need to invest more time and effort to make all the necessary arrangements and deal with any possible problems.
If you decide to find a buyer yourself, you need to determine the asking price for your property. To determine the market value of your property, you can approach local estate agents who offer free evaluations or you can find about the price of land sales with similar features in your area. Once you’ve determine the asking price, you will want to consider advertising. Fortunately, you can advertise your property for free. You can make use of the property directories and classifieds which offer free listing. You can put a “For Sale by Owner” sign on the land itself or you can place ads in shop windows or any establishments where it is allowed. The advantage of this type of advertising is that your property will be advertised across a wider area of probable buyers but the setback is it could literally take years to sell your property. That means more taxes on your shoulders and more ongoing maintenance.
Selling your land through an agent can be very costly. All agents are looking for a commission regardless of the value of your property. To meet this demand they will up the cost of your property causing it to sit on the market for a much longer period of time.
These two options can definitely help you sell your land. But, if you want to sell your land faster and with less hassle, you can check out Lucas Properties LLC. As private land investors, we will offer cash on your land in its “as is” condition so you don’t have to worry about advertising, schedule showings or paying commissions.