People sell land for various reasons; to earn cash, to avoid foreclosure, to get rid of unwanted property, and so on. There are also different ways on how to sell your land. Whether you choose to sell your land by FSBO (for sale by owner), through a real estate agent, in an auction, or through a private land investor there are processes involved and documents to be prepared. The land selling process starts from property evaluation, selecting an agent, coordinating with a solicitor, marketing your property, showing your property, accompanied viewings, receiving offers, offer agreed, and closing the deal. You may or may not go through all these process as you choose your way in selling your land.
Take a look at each process involved and choose the best way to sell your land quickly.
- Property Evaluation. It is important in deciding how much you are going to sell. In as much as you would like to get the highest possible amount for your property, you will not want to overprice or your will not sell at all.
- Selecting an Agent. FSBO and selling through a private land investor do not require this process because you won’t need an agent. Selecting an agent means selecting a realtor or selecting an auctioneer to help you sell your land.
- Coordinating with an Agent. The success of your sale is dependent on how good your relationship is with your agent.
- Marketing Your Property. You do not need to market your property if you choose a realtor or auctioneer. This is part of their job but then you need to make sure that the realtor or auctioneer you have chosen has a wide target market to ensure a successful sale.
- Showing Your Property. Buyers like to see what they are going to buy. Make sure your land is presentable for showing. Outline the property boundary by putting visible markers or post.
- Accompanied Viewings. If you have a real estate agent, you do not need to be available during viewings. Your agent must be able represent you and answer any possible question the prospects might have.
- Receiving Offers. Once an offer is received, your agent will notify you in writing and in person. Details of the offer will be stated in writing for further review. In an auction, as soon as the auctioneer hammers down, the offer is deemed final.
- Agreement and Closing the Deal. Once you and the buyer are in agreement, your agent will draft the contract and other documents necessary to close the deal and exchange of contract. Successful sale concludes when both parties sign the agreement.