Some successful ways in selling land include researching for possible uses of the land, reaching out to developers, knowing comparable prices in the market, and developing advertising and marketing plans to reach out as many potential buyers as possible.
Research plays a major role in preparing your land for the sale. Owner will be wise to gather as much information as possible so he can answer the questions presented by buyers. Ask the city service for zoning restrictions, contact local health department for septic tank requirement, obtain the most current survey as possible, determine the lot acreage, shape of the lot and everything that sits on it. These information might be the selling points that buyers would like to consider.
Setting up the right price can help you a lot towards your goal which is to sell your land quickly. You can work with a real estate professional to do a market analysis or you can do a research on your own. This depends on whether you have the time or expertise to do the job or not. Appraising the land will also guide you in determining the appropriate asking price. When you set the asking price according to the appraised value, take note of the market condition. Is it up or down? Under these conditions, your asking price basing on the appraised value will be more or less than the current market prices.
Regardless of the type of land, it will not harm to talk to surrounding neighbors and local developers about buying your property before putting it up for sale. A neighbor might be interested and if he buys the property, you will do without having to strategize a marketing plan or pay a realtor’s commission. This will save you both time and money in the process. If your lot is of good size which extends to several acres, it is good to target land developers. Often, they will make this type of land into a subdivision, shopping malls, or something of equal value.
To reach potential buyers, you can hire a realtor, list your property in both local and online listing, make use of social media, put up a ‘for sale’ sign, distribute flyers, spread the word by mouth, etc. Or, you can direct your efforts to contacting a private property investor. Unlike a traditional buyer, a private investor does not need financing, pays in cash, and closes the sale within a few days.
Need help? Contact Lucas Properties immediately and be guaranteed to have a quick and easy sale.