Do This 6 Things while Selling Land
Available land tends to stay on the market longer, and there are fewer buyers out there ready to invest the time and money into developing a lot. Crossing the requirements to develop land these days requires multiple specialists and experts, making the process complicated.
So, you must do a few additional works to find the right buyer when selling land. Spend a bit more time, money, and energy, and it will be worth it.
Here are a few tips to get your land sold in less time and for more money.
1. Photograph the real property
It may sound noticeable, but if you search for available land listings on the 99aana.com, you’d be amazed at how many agents don’t take photos of the subject property. I’m not even saying take skilled images. Just take pictures that are of value to potential buyers.
On 99aana.com, you will find listings of the property with details and Pictures of Land. I endorse taking at least 5+ photos to describe the property best – just like you would with a house.
Here are some ideas of what to photograph:
A space on the site that is level and an excellent potential building pad site. After all, people buy raw land to build a home or some other construction.
They are observing down the road both ways to show some background. There is no logic smacking the fact. The buyer will visit the site and see it in person, so show the locality a bit and be helpful with information.
Any current conveniences on spot or nearby like a water meter, power line, School, Banks etc. The more nearby or on spot conveniences that are present, the more valuable the plot will be.
Views from the property.
2. Review/Survey the property
The more potential buyers know about the property upfront, the best value offers you will receive. Here are some common queries land buyers may ask. A topographic study is a 2D drawing of a property that displays precisely scaled site elements, such as property lines, slopes, trees, and utilities.
Any buyer seeing to build something on the plot you are looking to sell will need a review, so it adds value, while also visibly describing the thing you are retailing. You can think of it as a floor plan of your site.
3. Get a soils report
One of the significant unknowns when buying a piece of land is understanding what’s going on underneath the surface. A soils report done by a Geo-technical engineer will examine communal data and test outcomes to provide references for a basic design.
The Geo-technical engineer will dig a few check depths on your soil – preferably in the part where construction may go – and dig until they smash base or roughly that a basis can bear on.
Preferably, you won’t need to have deep foundations as a deeper foundation on unfortunate soils adds a lot of cost to a construction project.
4. Provide basic zoning information
This gets a slight complicated as you don’t want to offer improper information that may distort your property. However, you can easily schedule an appointment with a planner at your local planning department and ask for a fundamental zoning code analysis.
You’ll want to know the zoning title so that the buyer can use it to look up the zoning limit on your property, such as delays, height limits, etc. Doing some preliminary zoning research will set your lot apart from others and give the buyer confidence in making an offer.
5. Figure out sewer or septic
If you build a home on a lot, you have to figure out how to get rid of wastewater. It will whichever occur by joining a public drain line or construction a septic scheme. At the actual least, you should know if the buyer can tap into a close sewer line or build a septic system.
If a septic system is needed, a perc test will be required to determine the water absorption rate of soil for the leach field. Getting a percentage test done would be a bit of due diligence to provide the buyer and add value to your property.
Any test or report you prepare for your site, you should include the cost of it in your sale price, so you will get refunded the expense when you close escrow.
6. Pay a higher percentage commission
This may hear self-centered on a real estate blog post carved by a real estate mediator, but catch me out. You will find available lot listings sit on the market for longer than a house or condo. That’s because there are fewer buyers actively looking for available land.
There is also a lot more work vetting an available piece of land, typically for less of a commission than buying a home. In its place of the present characteristic commission of 3%, offer an expert real estate agent 4% or even 5% to assistance you find that capable buyer.
Agents tend to go after the low hanging fruit, and buyers tend to lose steam when thinking about all that’s involved with designing and building a home. If you offer 3% or 3.5% to the buyer’s agent, that will incentive agents to send prospective buyers to your lot.
Selling land is a special skill
Though there are many brilliant, reliable mediators out there, it’s tougher to find one that is aware of the shades of buying land. Interview several agents and find one that is familiar with the process of buying and selling available land.