You always have the option of selling your land through a professional which is your real estate agent. There are some significant benefits to doing this when you are looking for a quick sale. These experts have the training and expertise for selling property. They also have a large database of potential buyers. Then they have ready access to many more forms of marketing that you as a private seller may not have. This includes selling through the internet. Most have high profile sites set up that draws traffic from interested buyers. If you are attempting to sell your property online you probably don’t have this same outreach.
Advice: One of the added benefits of hiring this agent is that they can advise you on much more than just the price of your land. A true professional will have a network of individuals that can help you with anything from tax planning to pond building. An experienced agent can tell you what is possible. They may know many things that can save or make you money during your transaction. Most of the time a good agent will help you net more money from selling your property than you can get on your own.
This website gives sellers the option of listing their properties on the MLS for a flat fee (without signing a contract with a real estate agent). Granted – this extra feature isn't free, but it's a nice little premium tool that isn't offered by most of the other platforms on this list – and considering what a HUGE additional audience the MLS represents, I thought it was worth pointing this out.
When some people look at the prospect of owning land, they get wrapped up in the dream of property ownership. The idea of owning a large tract of property can seem very appealing, even if it is of no practical use to them. This kind of trap is especially easy for people to fall into with land because it's a low maintenance property and doesn't seem complicated (even though there are a lot of factors to consider).
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I am considering buying a quarter acre, to build a house for my retirement in a few years. I have never bought land before but it is in an area that will definitely increase in value over the next few years so I want to lock it down now and build the house I want later, rather than purchase a home and make payments in addition to my current home. Thanks for the tips on how to assess, my question is whether I should use a realtor and/or get a property appraisal. I will probably pay cash for the land. Thanks much!
First, you need to understand the exact dimensions of the parcel of land you are evaluating. Next, call the local zoning department and ask them what the designated building setbacks are for the property in question (building setback requirements are very common, and are imposed as a way of giving order and consistency to the buildings in any given area). When you take these setbacks and regulations into account (relative to the size of this parcel of land), is there still enough room to build something worthwhile – or does it render the property useless? I've come across several properties that were designed (albeit, unintentionally) to be too small and after factoring in the setbacks – you can't build anything on them at all, leaving them virtually worthless!
Once we’ve received your signed agreement, we will begin our title examination on the property. We have a large network of established title companies, real estate attorneys, and real estate title professionals that will research the title to your property and help to arrange closing. All that is required is a few signatures on your end. There is no need to travel to complete the sale. Best of all, we pay for all the costs involved and arrange everything for you! It doesn’t get much easier than that.
Overage. Put simply this is a right to receive future payments in respect of land which has been sold. It is sometimes known as a clawback. The right is triggered by the happening of a certain event, in this scenario often the grant of planning consent for development. There are many issues to consider here, beyond the scope of this note, but landowners need to think about what will constitute the trigger event, how long the overage agreement should last for, what the obligations of each of the parties should be, how the payment should be calculated and how this payment should be secured.
Unfortunately, I owe $4000 in back taxes on the 2 acres. Most of the $4,000 owed is mostly penalty fees, since the annual tax on the 2 acres is $300 yr. My home on the 5 acres is valued at $500,000 and the 2 acres is valued at $14,000. If I pay the past due tax fees and penalties on the 2 acres, and have both properties joined, will the value of my home increase since it will be on 7 acres instead of 5 acres. And if so, will my homes value only increase by the value of the 2 acres ($14,000) for a total of $514,000? Also, the 2 acres is land locked and on a steep hill. Thank you in advance for your help.
I am giving giving House Heroes 5 stars for the excellent experience I had working with them. I unexpectedly received a dream job offer in Austin, Texas and had to quickly sell my house in Miami. I read the online reviews and testimonials for House Heroes and called them. Literally within minutes I was contacted and a very fair offer was presented within a day. I had already relocated by the time the sales was finalized and House Heroes made the sale and closing process very smooth and practically effortless. I whole heartedly recommend House Heroes – they were a hero for me!
Hi Dave, thanks for stopping by. You’re right – it’s very hard for me to give you any concrete opinion on this (because there are a lot of factors to weigh with any piece of vacant land). I’d say if you’ve looked at all the potential downsides and established that there won’t be any issues from that end… and if you’ve got a fairly decent idea as to what the property is currently worth (and you’re buying it for a price that is significantly BELOW that number), then sure – there probably is a fair chance that you can make money on it.
LANDFLIP is doing a superb job for my clients. I am a land broker in Alabama and I have been very impressed with the response I have gotten from advertising with LANDFLIP. The format of the property display is concise and informative...just what customers are looking for. I make sure all of my clients properties are displayed on LANDFLIP. A great product from great people.
This all boils down to how badly the developer needs your home, how much money he stands to gain by moving quickly and how robust the multi-unit housing market is. If the final offer falls a bit short of where you’d like it to be, factor in the negatives of staying: more construction noise, additional traffic and all the dough you’ll have to fork out to comfortably remain there. Realize, too, that condo prices, in particular, can be mercurial and turn on a dime if the greater housing market starts going south, which might give your buyer cold feet.
Once you provide us with a few basic pieces of information, using our simple and easy to use Sell My Land Form, we will automatically receive a copy of that information and begin our review process. Using a mixture of county assessment information, recent local sales data, and research on comparable land properties in the area, we will determine what we’d be able to offer you for your land.
Great information.. l just acquired a parcel of land on the coast with a beautiful ocean view. The city says it can be broken into three or maybe four lots. It has all at street , water sewer, electricity, etc. for one lot., lm to old to fool with it and needed some ideas of how to market it , pre Estate sale. Your list gives me lots of ideas, where l had none. Thank you so much….
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First, find experienced professional advisers. Arranging the deal yourself to avoid fees is almost certainly a false economy. An experienced agent, a solicitor and importantly, an accountant, are all essential before any sale negotiations are begun. Developers will have strict criteria for the land they wish to purchase in order to maximise their own profits, so obtaining the correct advice at the start will help ensure you can offer land for sale in the most appealing way to the developer and lucrative way for yourself.
Do you have land that you would like to sell and are unsure of how to progress? We welcome your call, whether it's to sell or buy land. You can be sure of a helpful and professional approach. We utilise the latest software and systems to source and sell land, enabling us to assess land parcels quickly and appraise the planning potential for most sites, saving you time and money.
For most commercial properties, the best way to do this is by ordering a “Phase I Environmental Report” (many banks will automatically require this because it affects their collateral). This report will identify if there are any “Recognized Environmental Concerns” (RECs) on the property that you need to worry about. If you neglect to do any environmental due diligence, the liability for any existing environmental contamination on the property could ultimately fall on your shoulders – making it very difficult and expensive to sell the property in the future.
Now I was reading about the 1450 sq ft build. A baby house maybe. I’d be more inclined toward a squad tent, (i have one 16X32 with a woodstove and 5000 kw generator and string of lights for sale. $3500.00 plus shipping and handling.), or a plains INDIAN Teepee which I also have for $2500.00 plus shipping and handling. Real Buffalo Robes, very soft and heavy, for $3500.00 a piece plus shipping and handling.
Great article. This is actually the first time I am learning about all of this. I bought my first property (that I currently live in) in 2012 and I am interested in investing in more property and generating passive income. My question is, once the property is purchased how do you ensure that it sells? I’m assuming that the only way to generate income from vacant land is for someone to build property on your land. If there is no interest in that land it could possibly turn into a loss.
One of the most important first steps before subdividing your land or land you wish to buy is to make sure there are no restrictions that will block your plans. Everything from ordinances, neighborhood covenants to deed restrictions may prohibit – or fatally complicate – your plans. Review these items carefully, plus order a professional title review (typically through a real estate attorney) so that you can understand whether there are any deal killing issues that apply to the property and prevent subdividing.
By submitting the information in this form, I give my consent for Landmark Properties, LLC d/b/a Landmark Property Buyers to share this information with its network of affiliate real estate investors. Furthermore, I give my consent for members of this affiliate network to contact me about purchasing the above-mentioned property. I also acknowledge that there is no obligation on the part of Landmark Property Buyers or any member of its affiliate network to extend an offer to purchase my property. By submitting this form I am granting Landmark Property Buyers and its affiliate network my full permission to review the information contained in this form and to contact me about the possibility of purchasing this property. I also agree that Landmark Property Buyers will not be held liable for the actions of the members of its affiliate network. These actions include but are not limited to, sharing my information with third parties and unsolicited attempts to communicate with me. I also confirm that the information contained in the form is correct to the best of my knowledge.
We buy land fast from people for many different reasons. Unlike what most people guess, it’s actually not usually from people who are trying to avoid foreclosure. In reality, most land owners just have a piece of property that they really can’t use. It’s also really difficult to sell most types of land, unless it’s something you focus on……like us!
Market for Land is Less Active – The market for existing homes is almost always more vibrant than the land market. There simply are fewer numbers of buyers for vacant land than consumers looking for homes. Start marketing a new home listing and a new lot listing when both are desirable and priced well, and you generally can expect fewer contacts about the new lot listing.