Do you have a piece of land you are looking to sell? On average, the value of one acre is about $12,000. However, location is everything, and depending on that, the price has a significant range.
You might wonder how to sell your land for the best price. Look no further; you can find everything you need to know below.
How to Sell Land: Getting it Ready
First, we will discuss some things you can do to prepare your land for sale. Preparation is key to success.
Getting raw land ready for sale is a lot easier than a house. However, there are some pointers you should look for while preparing your land.
Raw land is often susceptible to garbage dumping, depending on the location and how well it is protected. So before you plan on putting it on the market, clean up your land of any unwanted debris. This can be anything from old foundations, broken-down structures, and perhaps any unappealing brush and trees.
Know the Potential
You could be selling your land for a multitude of different reasons. Whatever the reasons may be, make sure you highlight the potential opportunities of the land.
Giving potential buyers a taste of the possibilities will excite them and result in a faster sale. For example, put together a basic financial plan with expected projections. This obviously depends on the size, zoning, and location.
Know Your Answers
When you sell your land, make sure you know the answers to zoning, land classification, and property lines.
Buyers will also want to know the type of soil, building restrictions, and if there are any contaminations present. Just like with a house, it is essential to protect yourself and disclose all the information you know.
Selling Land Privately
There are two options when you sell land. First, you can sell it privately by posting ads online, a for-sale sign, or word of mouth. There are plenty of options on how to sell land without a realtor. Look around in your area to find what is best for you.
Use a Professional
The second option is to use a professional, like a real estate agent. Real estate agents have an extensive network and access to many tools to help sell the land. However, there are a few drawbacks that come with using a realtor.
Real estate agents usually focus on selling homes, so your land may be for sale for a longer time than expected. Additionally, listing your land with an agent means that they will take a commission on the sale as well.
Are You Ready To Sell Your Land?
Raw land is an excellent investment, so when you sell your land, make sure to highlight the investment opportunities to your potential buyers, clean it up from any debris, and know the ins and outs of the land itself.
Are you looking for more real estate investment tips? Take a look through our other blog posts!