Even if you’ve confirmed that there are no restrictions that forbid subdividing the land (or make it unfeasible), you and your experts also should research the local zoning, subdivision and development laws so that you can understand the layout and size limitations for your planned lots. Each county, city or other authority will have its own regulations that describe important items like current zoning requirements, minimum lot widths, setbacks (front, rear and side), buffers, building heights, required open space and other significant details that affect the size and layout of your lots.
When you make the statement that I Need to Sell My Land Fast it is most probably because some circumstance has arisen in your life that has created a need for getting rid of the property. Inheriting land, or being stuck with a vacant property you don’t know what to do with and don’t want to build on can seem suffocating. It could be that you need the money that you will glean from the sale. Or, it may be that you are moving and will no longer be able to care for it. Then possibly you are following the market trends and feel now is when you will get the best return on your investment.
If you truly are in a hot area, which it sounds, your land has already been researched and investigated and deemed not to be desirable to the surrounding developers. A one acre parcel in the realm of larger subdivisions going in is only desirable if it's IN THE WAY, or if your house is an eyesore that will affect the marketing of the bigger development (which I'm guessing your house is not an eyesore).
I am looking at 95 acre property for hunting and camping listed at $132k in southerm PA, property will be timbered before sold and closest electric pole is approx 1/3 mile away from where i would build small cabin. I could use a generator since cost to run power would not be feasible. I am still interested but think the asking price is to much since this is not really a buildable property and has limited market value. typical buildable property with electric access is approx $2k an acre in the area. What should I offer? I was thinking possibly 95K?
4. eBay.com – Once our top selling venue, eBay is still a great place to advertise and gather buyers and drive them to your dedicated selling website. Cost to post property for a 30-day auction style sale, is a $50 insertion fee with a $35 notice fee when the auction ends. Other sale types are “buy-it-now”, which is a fixed price type with same fee structure. Think of eBay as; $50 per month worth of advertising to reach potential sellers.
Know what the land is zoned for. From the beginning, you need to have a clear understanding of what this land is zoned for. You don’t want to discourage buyers by keeping them waiting until you have the answer, and you definitely don’t want to mislead a buyer with incorrect information. It’s better to be honest and then refer the buyer to information about changing land classifications and zoning exemptions.
Thank you for the great feedback. Be sure to check out our other tools and resources for real estate agents on LotNetwork.com — this page shows some of the many ways that LotNetwork.com can help agents like you. I think you’ll find that using a land-focused site like LotNetwork.com is a great way to show your clients that you are doing more and working smarter for them. Let us know if you need any help with posting your land listing.
If your property and those around it have recently been rezoned, this could be a sign you can sell your property to a developer for a good profit. But nothing is set in stone. The next best step is to speak to your real estate agent, who will know what has recently sold and whether any developers are actively looking in your area. They can then assess your home to see whether it would be able to sell and some estimated figures.
Selling land is one of the most difficult real estate transactions to conclude. The seller must create an imaginary future for that land and market it to the appropriate buyers. This involves creative thinking on the part of the owner and the expense of illustrating the future use of the land in the form of flyers and brochures. Obtaining financing is difficult and requires the owner to be flexible on his price and terms if he wants to sell the land quickly.
I’m sure it could be done. I actually live in a subdivision that started exactly like how you’re describing back in the 70’s. I think it can be a pretty big speculative gamble unless you’re absolutely certain that there’s a huge demand for what you’re creating… but if you end up being right, you could easily make millions (depending on how big of a project you’re looking at).
But do not — and I repeat — do not try selling directly to a developer/builder. These folks, when dealing directly with a property seller, will base their typically lowball offers on a “fair market value” determined by appraisers they hire, who are typically agenda-led cronies. Such offers will almost certainly not take into account the recent increase in land values that all this upscale multi-tenant development is creating.
In addition to online listings that target lot and land buyers, effective property signs always should be part of your marketing plan. Don’t just use a standard “For Sale” sign; we suggest that you have a sign custom-made for selling your lot or land (which can be done relatively inexpensively these days). You can help tell the story with your custom signs by including a few key points like acreage and property features. The sign(s) should be located for visibility, look professional and be kept clean and upright.