Beginners and long-time land sellers all have one goal in mind: to make a quick land sale. While those seasoned sellers already have a good grasp of the means to achieve this end, newbies might find themselves still scratching the surface.
Surely, this blog post is for those folks who are just starting in selling land. Learning the basics is a must in this industry, so we’re going to talk about it here.
Here are the five steps to selling your land fast.
Make Some Cheap and Easy Improvements
Unlike making improvements on a home, enhancing the appearance of vacant land to prepare it for selling won’t hurt your finances.
You simply need to get rid of the trash on the property. The existence of trash on your vacant land is sure to put off potential buyers. You can hire people to pick whatever litter and debris on the property. Or, do the job yourself if you want to save money.
Another thing that repels buyers is the overgrowth of weeds and grass on the property. Cut those tall grasses and weeds because they create an unpleasant look on the land.
Moreover, fix a damaged gate or broken fence. Property viewers notice first the gate or fence, so make it look decent at least.
Price It Accordingly
Setting a reasonable price on the land you’re selling is another factor that can help sell your land fast. When the property is priced according to what it’s worth, of course, it will be more appealing to buyers, and they will be more willing to pay cash for land.
Now, how to set the right price for your vacant land?
Well, you have to hire a realtor because such a professional is well-versed when it comes to the land market and has access to informational resources like property comps.
You can also conduct an appraisal of the property to know its market value. Based on factors, such as size, location, and land features, a land appraiser will tell you the price range of your vacant land. It’s wise to work with multiple appraisers to determine the price of the property you’re selling.
Listing your vacant land on listing sites is one of the best ways to sell it fast. This approach allows you to reach as many potential buyers as possible. But, of course, you have to make your online listing descriptive and attractive to get the attention of potential buyers.
Include strategic and creative photos in your online listing. Showcase the impressive features of the land, its scenic views, and amenities. You can also utilize a satellite image with a Google Earth overlay to exhibit the layout and location of the property.
Then, write a detailed description of the land you’re selling. Provide pieces of relevant information, such as zoning, acreage, setbacks, deed restrictions, environmental issues, etc. Keep in mind that such bits of information help buyers make a decision.
Have All of Your Paperwork Available
Before you list your land, make sure to prepare the necessary documents to make the sale smoother. Here’s a list of the paperwork you need to prepare when selling your property.
- A copy of the sale agreement when you bought the property
- Mortgage information
- Title report
- Survey reports
- Property tax information and recent tax bills
Buyers almost always negotiate to get a favorable price for the property they want to purchase. As a seller, you must be open to negotiation with your buyers, but not to the point that you get the shortest end of the stick. After all, you’re doing business, and you want to profit out from it.
Once you give that opportunity to a buyer to negotiate, and he/she is always offering an unfair price, tell him/her that you’re not okay with it. Provide pertinent information and explanation as to how and why you came up with the asking price.
Now you know the steps to selling your land fast. Keep in mind to prepare the land for sale and make improvements, set a reasonable price, have an online listing, gather the important paperwork, and allow price negotiation.