FindMyRoof does a pretty decent job of putting together a nice listing that gives all the basic details in an easy-to-follow format. It's not a terribly complex process to create a listing, and the site doesn't draw in a huge amount of traffic – but it is a relatively targeted audience of real estate buyers, which may make the site worth your time and consideration.
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.
There are many reasons people decide that their vacant land has become a burden and they need to sell land fast. For some, they no longer have a need for it, and they would rather cash out of the property. For others it is the cost associated with paying the property taxes on the vacant land. Finally, some will sell because it wouldn’t be cost effective to keep it, and the value has dropped significantly when the bubble burst in 2008.
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!
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.
On those notes, pay attention to who you’re likely buyer will be, and seek out those people. If the land is zoned for commercial businesses, make entrepreneurs and existing business owners your target audience. A real estate agent who is selling a flat property that gets a lot of sunshine may want to reach out to energy companies who are looking to build solar arrays.
If you are dealing with a single lot being subdivided into two or three residential lots, you may be able to handle this by working with a few real estate professionals that will help you in the process. Be thorough during your due diligence and planning so you can evaluate whether subdividing is feasible and makes financial sense. (More on this in a minute.)
Hi Seth – My brother-in-law and I are looking to get into real estate investing and have our eye on a piece of land (we want to start small, FYI). It is 1 of 8 lots, all of them are only 1,742 sq ft, for commercial use only, and the lot we are looking at is the end lot…My thought is, buy now and hold on to it for a length of time until a developer comes along and wants to buy all 8 lots. This would obviously need all sellers to agree to sell which I am not sure how tricky that would be. My question is, do you see any chance for money to be made here? The lot is in a great location and I honestly can’t believe nothing has been built there yet. More details: $16,500 for the lot, taxes are $1,087 / year which I know is a little high based on what you stated above but even so, after negotiations, I think we could get taxes down to 4%. I know it might be hard to say, ‘yes you will make money’ or ‘no, you won’t’ but just wanted any insight you could give.
Sell your land to a speculative investor. Many areas have investors that will buy just about anything as long as it is cheap enough. These investors can close quickly, but will frequently offer you a very low price for your land. That's how they're able to move so fast -- they're getting a great deal. Investors usually won't require you to finance the land for them.
Before getting started, check out a few sample ads for houses and you'll notice that they are emphasizing the benefits and amenities of the house. Don't sell the steak, sell the sizzle. Raw land is no different. Take a good look at what makes your land compelling. Mountain views? Water? Hunting? Recreational area? Good access? In the path of development? Trees? Then get out the thesaurus and use some colorful adjectives to describe the area and land. Of course, you will need a section for just the facts such as: elevation, access, terrain, deed conveyance, taxes, driving directions, GPS coordinates, sewer, water, utilities, mineral rights, etc. I like to use a simple table outlining all of the basic attributes and facts about the land. It is essential that the potential buyer have easy access to this basic information but it won't help sell the land. Your language and conviction about the area need to be conveyed to a potential buyer and that is what will sell the property. More information is always better than less. Once you have your content well laid out then you need to add images.
Once you get over about an acre in size and two or three lots, the complexity of the subdivision process can rise dramatically. The level of difficulty – and expertise needed — can be compounded if you have a site where lots will not front on an existing public road or where utilities and infrastructure must be built. This likely will require you to undergo municipal oversight (possibly even state or federal, for some situations) for the subdivision’s site design and layout, as well as construction of roads, utilities and other infrastructure. In this scenario, you basically are stretching the activity from simply subdividing a parcel to full-scale community and land development.
Seth, I can definitely see how internet marketing would be extremely useful when selling your property. My wife and I have been planning on selling our house in order to move to a much more family friendly neighborhood. I think that we should consider finding finding a real estate agent that could help us to sell it exactly according to our desired asking price.
ClassifiedAds is another free listing website with a similar look and feel to Craigslist. You aren't required to maintain an account here, and the ads on this site also come with a nice little inquiry form at the bottom of each listing – so it's one less step for an interested party to contact the seller for more information. The listings also allow sellers to link to third-party websites, which is a nice little extra feature you can use to send extra traffic to your selling website.
"I've seen both buyers and sellers do this to try and gain some type of advantage in negotiations," says Robert King, a land agent with AlaLandCo; a native of Clay County, Alabama, he has over 10 years experience in marketing and selling property. "It rarely, if ever, works, and absolutely serves to drive the parties further apart." Also, don’t make a laundry list of everything that is wrong with a property you are trying to buy, cautions King. "You must like the property, or you would not have spent all that time figuring out everything that is wrong with it. That just puts the seller on guard and creates a personal barrier." When you impart your wealth of knowledge of all of the property's shortcomings to the other party, you are not likely to make a friend of the seller, says King. You want to be on friendly not adversarial terms with anyone you are negotiating with for the land deal.
This has got to be one of best articles out there about land investment. Thank you so much for the advises. I live in San Jose, CA and I am also looking into buying land myself to build a residential home on. I’m somewhat skeptical about it as i’m very new to this whole process and afraid i might be stuck on a parcel that is not build-able or would cost too much to develop. The parcel i’m looking at is currently zoned “commercial”, however, the surrounding area is heavily residential so i wonder if this was a city’s mistake. To avoid troubles down the road, I plan to hire a professional for all the permitting and developing advises/estimate (if you know anyone in the Bay Area that provides this type of service, could you please refer?) but I just don’t know how much i can completely close my eyes and just sign wherever i was told by the professional. Any advise will be much appreciated.
As you are aware, we have worked worked with Land Century since its start back in 2006. I wanted to thank you for all your professionalism, the quick follow up, the integrity with how you operate and for helping us buy and sell hundreds of properties across the USA. As you know, about two years ago we directed all our lots sales and purchases exclusively through your office. You continue to be a great partner and I look forward to many more years working together.
This whole subject always fascinates me, because it’s a pretty difficult question to answer. Even most appraisers don’t really know what they’re talking about when it comes to valuing land… a vacant lot’s true value is usually a very elusive number to nail down. You may want to see this blog post for more details on how I look at it: https://retipster.com/valueofland
After identifying your likely buyers, try to think like them so you can focus your message to convey what they need to know about your property. Have information ready about schools, shopping and other nearby amenities. For developable land you can be prepared with zoning information and insight from local authorities about the location and capacity of water and sewer service. Each property is different, so customize your information for your situation and your targeted buyers.