Hi Chris, thanks for the comment. That’s a pretty subjective question (there are a lot of variables to consider), but I don’t see how it could hurt the value of your overall estate. The question is – what is the land actually worth? Is it worth more or less than $25K? One way to find out would be to follow the ideas in this blog post. As long as the property is worth substantially more than $25K (and assuming you actually want the additional land), it’s probably a worthwhile investment… but again – it’s impossible for me to tell you anything concrete without looking at everything (which I can’t really do).
My husband and I have a lot of land that we don’t need, so we have decided that we should sell it. We are very busy with work and our family, so I like the idea of selling it in a way that won’t take a lot of time. I like the idea you give of auctioning off the land because we will be able to find people that are wanting to buy real estate quickly. I imagine that it would be a good idea to look for a real estate company to help us do this so that it all goes smoothly. Thanks for the idea!
Offer owner financing. Land is usually hard to finance and if you're willing to take back a mortgage for the buyer, you'll expand the number of people who can buy your land. On the other hand, you're also taking the risk that the buyer won't make his payments and will default. To protect yourself, work with an attorney to draft strong legal documents that follow your state's laws and get as much money up front as is reasonably possible.
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.
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.
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.
Sorry if it’s too commercial but beycome.com syndicate your listings on a lot of websites as Yakaz, Mitula, Nuroa, Listanza, Trovit, globallistings., waa2, Gvanga, Oodle, Geebo, Global free classfieds, Domesticsale, Recycler, Zumthing, Next-immo, Claz, Classifiedsgiant, locanto, Askalo, sell.com, rentalads, Zumper,Lycos, Yahoo, Msn, aol, Google, bing, facebook, duckduckgo, youtube… and it’s free;)
Contact the owners of surrounding parcels of land to determine if they want to buy it. Sometimes, a land owner will want to increase the size of her holdings. If your land has access to a road, water or another valuable feature, it can be particularly valuable to a neighbor whose land doesn't have that attribute. Your neighbors are also familiar with your land, the area and its prospects, so they should be able to decide more quickly than someone who comes into the area cold.
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.
These are the questions I ask myself before I buy any piece of vacant land. This isn't intended to be an all-inclusive list of EVERY possible issue you could ever encounter, but I’d say it covers about 95% of the potential concerns you ought to be aware of. Most of these issues come up very infrequently, but they are very important things to consider nonetheless. Remember, you don't need to be afraid of buying vacant land. You just need to be informed.
Hi Debbie – that’s an interesting question… I’ve never heard of that one, but I suppose I can see why you might wonder. I’d have to imagine any harmful chemicals from a cemetery would be in extremely trace amounts (nothing like you’d expect from a gas station), but at the same time… I’m not an environmental professional, so I’m really not qualified to give my opinion on it.
I just ran across this post from over a year ago. Great general info! There are also local websites, specific to certain cities or regions that will advertise your property for free. In my current area of Utah, the best site is KSL.com, associated with a local newspaper. When I advertised in Southern California, Craigslist was the best free site. In some areas, nothing beats a small flyer on a physical bulletin board at the local convenient store. The best advice in this article is the CONTENT and the PHOTOS. Nobody will find your property without the right search terms, including proximity to local landmarks and features by name! - Don't just say "near lake." Put "easy walk to Fish Lake." Once a potential buyer finds your ad, the photos can reel them in. A photo of dirt and a few trees is nice but perhaps you can include a pic of you in a hammock between 2 trees or by a campfire or fishing in the nearby stream. Buying land is often much more about emotion than a list of cost vs. benefits. If it is a rural building lot, show photos of nice, nearby cabins or homes that help a buyer visualize the potential. Also remember to list other components that might make your deal stand out like owner financing or lease with option to purchase.
Thank you for the 50 creative ideas to sell your property fast. With how large social media has gotten there are now so many different ways to list your property so it’s seen. Craigslist, KSL, even Facebook to name a few and that’s not even including the list of sites specifically for selling a home. I think having your house up on multiple sites is a great way to get it noticed and sell fast.
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.
My grandmother is thinking of selling me her lakefront parcel that has been sitting for 40 years. My wife and I have recently began to look into real-estate investment homes but think we might want to go this rout instead. My question is how you generally attract people out to land that is rural ( no airport within an hour rural)? And do you recommend any websites, companies, or law firms that can help us build a house on the site from scratch purchase laws. We are also looking into premade cabin homes.
A large piece of undeveloped land may get you the greatest return if you subdivide it and sell each parcel separately. Have the land surveyed to determine which parcels are suitable for home building, which have other uses and which are likely to remain undeveloped. Keep one or more parcels for yourself if you still want an investment stake in the land, in case its value rises in the future.
Having a knowledgeable professional on your side always helps when selling your lots and land. There are many benefits from having specialized expertise on board, so we encourage you to work with a real estate agent who specializes in lot and land sales. They will help you understand the market, set a price and market your land to the right buyers.