DIY Guide to Land Selling
For someone who is planning to sell a piece of land, you may want to know the pros and cons of doing it on your own instead of hiring an agent in the hopes that you will gain more by keeping all the profit and not paying the agent’s fee. Although this presents a risk, many owners choose the DIY way and have become successful.
To gain more, you have to be prepared to make little sacrifices. This means you have to spend time and energy to do the leg work that an agent is supposed to do.
DO YOUR RESEARCH
The first thing to do is familiarize yourself with the market conditions and know the ins and outs of real estate transactions. Make a list of the forms you need to gather and other paperwork in relation to land selling, contract signing, and closing. Legal documents such as insurance documents, land title, and records of appraisers could come in handy. Find out what similar properties are selling for and how long they have been on the market.
SET THE PRICE
Setting the price can make or break your sale. If the price is too high, you run the risk of scaring potential buyers away. If you price it too low, buyers will get suspicious and they’ll think that you are desperate to get rid of the land. This will encourage buyers to offer an even lower price which will do you no good.
ADVERTISE AND MARKET YOUR LAND
To find potential buyers, you need to give your property maximum exposure across a wide range of area. It will be impossible to sell if you are not going to advertise in venues that buyers will likely see. Identify your target market and focus on reaching that target by any means. Use your network connection may it be social network or job associations.
Work with a private investor. Unlike realtors, they don’t ask for a commission. In fact, they offer a guaranteed sale at a guaranteed price. Private investors do not need financing thus closing will be within a few days time.
Need help? Contact Lucas Properties today.