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.
This issue can be overcome if you can establish a legal, recorded easement to the property. This can be done if one of the neighbors is willing to allow you access through their property – to yours. In many cases, a neighbor shouldn't be expected to do this for free, you'll have to give them a reason to help you (usually in the form of money). Again, this isn't an impossible issue to overcome, but it is definitely something you'll want to be aware of before you purchase.
Another benefit of subdividing for homeowners who would like to liquidate some of their real estate without having to sell the farm (literally), is that they may be able to both cash in on a portion of vacant land and stay put on the rest. Holding onto some of their land can give that property time to increase in value as the surrounding subdivided land becomes developed.
To be honest, I actually had a hard time with this site at first. For some reason, it was automatically flag and removing all of my listings almost immediately after posting… which was a little problematic. I'm still not sure why it was doing this – but I'm guessing it was because my listings were all for vacant land, and these properties typically don't have a verifiable street address. That being said, if you can actually get your listings posted successfully – the ads do a good job of highlighting all the important details in a short amount of space.
Hi Colt, whenever I buy landlocked parcels, my offer is VERY low (because practically speaking, if nobody can access it, it might as well be on the moon – which isn’t all that useful UNLESS someone can obtain legal access). One way to prove that it’s landlocked would be to find a parcel map of the property – and I explain how to do that in this blog post: https://retipster.com/property-pictures
After 10 years in the rental business industry, my husband and I opted to sell off our properties. We sold two through land contracts and another through a traditional mortgage sale. Though the steady monthly income was reliable, we opted to sell our larger note to pay down debt and free up our monthly budget. After testing the waters with 5 different firms across the nation, we selected to use First National Acceptance Company. Our agent was Richard Nzokou. Richard provided the best information with the most clarity on the process of selling our note. The offer and closing value were very fair. Richard kept a close eye on our sale through the approval process and kept me informed every day. I highly recommend this company and encourage you to work with Richard.read more
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.
Consider your own needs when pricing, and understand how pricing could impact buyers’ interest. When selling real estate, you sometimes have to choose between getting the highest price and possibly selling quicker. Plus, your pricing may be influenced if you need to sell for financial reasons. In addition to your own situation, pricing your property ultimately requires an understanding of the land market as a whole, why people are buying lots or land in that area and who these people are. A good real estate agent with land expertise can help greatly in this process.