Did you know that in 2016, 11.2% of Americans moved? Are you thinking of selling your land, but are wondering how to sell a lot of land?
In this article, we go over all of the top tips, tricks, and secrets of the trade to get that land off of your hands. Tired of holding onto this land, and wish you could sell it fast? Read on to learn how to sell a lot of land in no time.
Why Selling Land Is Different Than To a Homebuyer?
When you decide to sell land fast, the first thing you’ll need to decide is who your audience is. While it’s easy to go after those who are looking at a home, the wants of a land buyer and homebuyer will be different.
While you can show off your updated kitchen and give a tour of the home for homebuyers, selling land fast takes a bit more creativity. Keep in mind too that the market for buying land won’t be as large as the buying homes market.
You’ll also need to determine whether you’re selling the land to a builder or developer. A builder will place the structure, whereas a developer will prepare it for construction.
1. Zoning Laws
Before you sell land fast, you’ll need to check the local zoning code to determine what can be built on the land. Zoning laws will tell you what type of building can be built. This will also help you determine the value of your land.
Make sure that you do plenty of research on the property so that you’ll have the proper information to give potential buyers. When you give the potential buyer all of the information they’ll need, they’re more likely to buy your land.
If you wait to answer their questions, they might move on to greener pastures. Also, be ready to give them ideas to visualize what they can do with the land.
3. Decide on the Price
Pick out the right price for the land that you feel is fair for a potential buyer to pay. Once you’ve decided on the price, you can place it online. Take a look at similar property in the area that’s sold to determine what price will work best for your land.
Lower the Price
If you’re trying to sell land fast, you can place it for sale lower than its actual value. Take a look at how much land’s sold for around you recently, and price it lower than that.
Residual Value Assessment
If you’re unsure how much to price your land for, and there are no local land options nearby, you can do a residual value assessment. If you know what type of building your land can support, you can calculate how much the building will be worth, how much it’ll cost to build, and how much will be leftover.
4. Use Multiple Sites
There are multiple sites you can show off your vacant property online. The goal is to reach your target audience and get as many people as possible interested in the property.
5. Be Diligent
When the phone rings, answer it. If you miss a call, call them back right away.
Make sure that you’re ready to answer any questions the potential buyer might have. Write down their information, and make sure that you follow up with them if you don’t hear back.
6. Sell Land Fast
Your best option is to sell your property to a land buyer. This is a way you can skip the steps of having to wait for someone to come buy your land and give showings.
Ensure that you form an agreement with the buyer, and find a title company. The title company will handle the escrow, and set it up fast. You can find purchase agreements online that you can sign with them.
You can offer to finance down payments. You can either pay for it all or a portion. If they can afford the mortgage every month, but don’t have enough saved up for a down payment, it might be worthwhile.
8. Reach Out
If you know anyone in the local area such as neighbors or contractors, you can see if they’ll be interested in your property. Developers might be curious if it’s a large plot of land.
9. Work With a Broker
You can work with a real estate broker who has a specialty in selling land. You can also offer them a higher commission if they sell it in a shorter period of time.
10. Do a Survey
This is a great way to show the outline of the entire land and set the price. You can also take a look at any disputes as far as land with neighbors. Keep in mind that the price of a surveyor can vary.
11. Don’t Forget Building Costs
If you want to sell land fast and not get stuck with it, you’ll need to factor in the cost of building on the land as well. Construction can be very expensive on land, and the property might not be worth as much as the building that’ll go there.
How To Sell a Lot of Land Fast
Now that you’ve explored how to sell a lot of land fast you should be well on your way to making some quick cash for your land. Are you ready to get the process started of selling your land?
Wanting to forego the entire process of worrying about how to set it up properly, and find someone to buy your land? If you’re looking to sell your land now, contact us today. We buy land, and can give you a cash offer fast!