Selling your land
If you have some land to your name and are ready to let go of it, you have come to the right page. Here is a step by step guide to help with this transaction.
1
Any improvemets/changes?
While you had your land, did you bring anything over, or build something on it? If so, these little things can go a long way for a potential buyer. Maybe you cut down a lot of trees, terraformed the land, or tested it for buildability. These are important things to make note of when getting ready to sell.
2
Comparative Market Analysis
Nobody wants to overpay, and everyone is looking for a deal, fair market value will help you get what your land is worth in your pocket after a successful sale, but before that, you or your agent will consider the qualities of your land, including but not limited to location, deeded access, restrictive covenants, and more. Utilizing this knowledge, you or your agent will compare your land, to other lands that have sold, as well as any new convenient subdivisions, stores, and roads that have been developed over the years. Whatever you or your agent decide is best, to use in marketing the land. All this will determine the price range, the seller ultimately decides what to price it at.
3
Listing and marketing
You or your agent will use tools such as online county websites for boundary lines, or have an official survey company determine the lines. You could also use powerful tools such as aerial footage and video for marketing purposes. One of the biggest tools that will be helpful will be the MLS, your agent will have access to it, there he or she will put it on, and then use many marketing techniques for advertising.
Note: Land typically will sit on the market far longer than homes. That is because there are fewer buyers interested in just land, than a house to live/rent.
4
Touring the land
Over time, there will be interested buyers, they will request access. Once that has been granted, they will walk the property and decide if it is for them.
5
Offers and Negotiations
Once there are any offers, you or your agent will review them and consider the terms of the offers. He or she can provide valuable advice with the one you go with. Oftentimes, the offer will be contingent, after acceptance. At this point, it is the task of responding and meeting those terms in order to close on time.
6
Closing
Let's go! It's time to celebrate, once the title company does their due diligence, and both the buyers and sellers have signed. You will then be released the funds for the sale of your land, and the buyer, the title and right to enjoy the property as they choose and please.