Selling land is different than selling home. If you want to sell your land, it’s important to take steps to prepare for the sale. For example, you should get environmental testing done before listing your property. You also should have detailed data about the land, which you can share with a real estate agent.
Selling Land is Different Than Selling Home
There are in many ways in which selling lands is different than selling a home.
Subdividing land before selling a home
Selling land is different than selling a home in a number of ways. The first is the fact that a seller must convey to the potential buyer the full potential of the property. This means presenting detailed information, including maps, that will help a potential buyer visualize how the land can be used. Also, the seller should capitalize on the most desirable features of the land.
If you plan to sell vacant land, be aware that the market will be much more competitive than selling a home in Fairfax. Many land buyers want to picture themselves living on the property. They may want a shopping center or a ranch for cattle. The seller should be as descriptive as possible when selling the land, and hold open houses to help potential buyers visualize what they could do on the property.
Another way to increase the chances of a quick sale is to prepare the land properly. Ideally, the land has been cleared of weeds and grass. Taking pictures of the land is also a good idea. The photos should emphasize the special features of the property. A land map should also be created to show the location of easements, property lines, and other defining metrics. A land buyer will rely on concrete data and visuals to determine whether the land is suitable for their needs.
Environmental testing
If you’re planning to sell a piece of land, you should get a pre-closing environmental test, which will determine whether the land is free of contaminants. This type of test is recommended by financial institutions because they need documentation that the property is not contaminated.
A Phase II ESA involves examining the soils, air and water on a site. It will determine if there are any pollutants or other contaminants present, and what remedial steps will be required. It will also determine whether there are any hazardous substances, active land mines, or brownfields. Environmental assessments are essential when selling a property, and will help protect a landowner against legal trouble.
A proactive environmental due diligence assessment can uncover contaminants that were previously not known. This can result in additional investigations, cleanups, and regulatory requirements. Savvy buyers consider the risk of contamination before settling on a purchase agreement. They will often adopt the “worst-case” scenario and assume that a property will need aggressive clean-up efforts.
Working with a real estate agent
Unlike selling a home, working with a real estate agent when selling land requires a little more effort. The agent should be able to show the land to potential buyers and prove that it is in good condition. The biggest challenge with selling land is that it is less visually appealing than a home, and the agent must be able to sell it to an interested buyer in an accurate and detailed way.
A real estate agent knows the market better than you do and will be able to help you list your land at a price that will attract potential buyers. They have experience pricing properties and will be able to determine the best offer in a short amount of time. By contrast, if you were to sell land yourself, you could overlook some important considerations, pricing your land for a fraction of its value or overpricing it.
Before listing your land for sale, you should know the type of buyer you want. A retail buyer is most likely looking for a home to live in. A land buyer, on the other hand, is looking for a piece of land that can be developed. They want open spaces, recreational spaces, and the ability to earn money from it.
Survey
Regardless of whether you are planning to build a home, start a business, or buy a piece of property, it’s a good idea to conduct a survey. This provides valuable insight into the property and can help you identify potential problems before you buy.
A land survey can help you determine the legal boundaries of your property. This can help you avoid costly disputes in the future. For example, you may be surprised to learn that the home you are considering purchasing is actually located on someone else’s property.
A survey also helps you identify potential hazards to your property. For example, you may not realize that a property’s slopes can be susceptible to erosion with heavy storms. This can lead to flooding. A survey can help you determine whether you need flood insurance or need to make some remediation work.
Social media
Using social media to sell a home has never been easier. With smartphones, there’s no excuse not to be in the loop. While Facebook is the king of the social kings, Twitter and LinkedIn also have their place in the real estate world. With that said, a social media strategy that’s tailored to your specific needs is the key to a successful online campaign.
Aside from social media marketing, there are a variety of other tools you can use to get the job done. This includes the best mobile marketing platforms, a good CRM, and a solid CRM backup plan. Having a well-rounded marketing plan will make your job easier in the long run. With all of these tools in hand, you’ll be able to get your home sold for top dollar.
Pricing
Getting pricing right for land is important to get the best price for your property. However, pricing land can be trickier than pricing a house. It’s important to price the property based on the current market value and not based on your emotions.
If you’re unsure about how to price land, consult with a real estate agent. They can help you price your property and market it. You’ll have a better chance of selling your land for the best price.
Land buyers are looking for a property that is in the right location, but you’ll also want to price your land according to the current market value. The market value of raw land can vary depending on the buyer’s intended use. If your land is in a developing community, there’s likely a set price for lots. But if your land is in a rural area, the price can be affected by significant inferences.
