I probably wouldn’t go so far as to put down a gravel drive or anything else yet – simply because you don’t know what your buyers will have in mind, and they may want to go in a different direction with the property altogether… but something as basic as a perc test and survey will apply to most potential buyers (and it’s not terribly expensive to do).
As for whether the seller will accept a lower offer – you’ll never know until you make the offer and wait for his response. It could obviously go either way, but my philosophy is usually to err on the lower side – because unless he’s got other buyers waiting in line (which I doubt he does), you can always come back with a higher offer later if you really want it that badly.
You can also look to certain companies and organizations that have a concentration of people that may fall in the above mentioned roles such as investment companies (i.e. Charles Schwab, Fidelity), financial advising companies (i.e. Morgan Stanley, Merrill Lynch). There may be a higher concentration of people who can both afford and want to build their own custom homes or to build income-producing properties. Try linking yourself to financial advisors who may already know of people who have these types of dreams. This isn't a comprehensive answer of all the possibilities but just some thoughts. Good luck!

I’m learning the hard way about the hidden costs of buying empty land. Unless utilities are already there, it can be VERY expensive to run them from the street to the building site. For example, one parcel we looked at was about 1000′ feet off the main road where utilities are located. To run city water, gas, electricity, and cable could run anywhere from $10-100 per foot! Multiply that by 1000 and I better understand why developers say that they spend the same on running utilities as they do on the land. It may cause us to reevaluate our goals and possibly shift to buying a property that already has a rundown home on it.
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.

These are great tips to help you sell your house faster. I especially like tip 30, to ask real estate agents if they know any cash buyers. Does this make a big difference in how fast the process goes? I’ll talk to my realtor and see if she knows of anyone in this situation. I’ll see which of these ideas we can use to get my house sold fast! Thanks!


In terms of an investment – I only buy land when I’m getting it for FAR below market value (which basically guarantees that I’ll be able to sell it some day for more than I paid for it)… and it doesn’t sound like that’s necessarily what’s happening here. If you think you’d be able to use it for something that would increase the overall value of your current property, then it may make sense… but if not, then it may not make the most sense from an investment standpoint.
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.
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.
2. The answer to this question depends entirely on the property, how much timber is on it, and how much money you can get from the sale of the timber. If you’re really lucky, you might even be able to sell the timber for more than you paid for the property itself (however, I would say this is more the exception than the rule). You might want to check out this article for some more insights if you haven’t already.
If you are familiar with ANY of the situations listed above, you are not alone and we want to help. We invest in properties all over the United States and WE WANT TO MAKE AN OFFER ON YOUR PROPERTY. We are not real estate agents and we are not asking you to list your property with us; we want to buy your property now and we are prepared to pay cash for it.
Hi Cassie, sounds like an exciting opportunity! I might suggest that you call your local planning and zoning department. Tell them about the property and what you’re interested in doing with it. Ask them if they know of any particular issues you should be aware of. They should be able to help you check at least a few of these things off your list from the get go.
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.
Side Note: While it's easy to assume that your property listings only belong on websites where tons of people are already there, I think it's also important not to overlook the value of having your listings in front of many different audiences. Even when an advertising outlet is less-recognized or newer to the market, it could still be worth your while to post your property information there.
I agree with Ellen Chung, finding the right type of buyer to target is very important. Also, you should consider the amount of time you have to sell the land. If you are short on time due to back taxes owed or other financial obligations, your best bet may be to talk to a vacant land investor. You will not get the full market price for your property, but the typically can pay cash and close quickly.
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!
I’m learning the hard way about the hidden costs of buying empty land. Unless utilities are already there, it can be VERY expensive to run them from the street to the building site. For example, one parcel we looked at was about 1000′ feet off the main road where utilities are located. To run city water, gas, electricity, and cable could run anywhere from $10-100 per foot! Multiply that by 1000 and I better understand why developers say that they spend the same on running utilities as they do on the land. It may cause us to reevaluate our goals and possibly shift to buying a property that already has a rundown home on it.
A farmer may want to expand his or her land, and your 3-acre lot is perfect for grazing. If you have land that is in a residential area, your neighbor may want the opportunity to have a bigger property and will buy your land for premium since it is adjacent to their land. And these are people you probably know and trust, which makes the entire sales process more pleasant.

Negotiating:  A good agent can help you navigate the negotiation process and give you perspective on what to offer and what to accept in order to help you reach an agreement with a potential buyer. Negotiations are often tense and can become emotional. The agent serves as the go-between, and is paid to defuse and diffuse the negotiating process. A man that I showed land to last week, was planning to sell a property he owned and do a 1031 exchange into a property I have listed. He told me about a cash offer on his tract that was “as good as in the bank” for about $350,000. One of the owners that adjoined this man’s property had made the offer about a month before he came to see my tract. His adjoining owner called back yesterday and dropped his offer from $350,000 to $315,000. Had I been his agent, I would have advised him when the offer came in to go ahead and accept it. His delay in accepting the offer probably knocked him out of buying my listing which he liked a lot.
I probably wouldn’t go so far as to put down a gravel drive or anything else yet – simply because you don’t know what your buyers will have in mind, and they may want to go in a different direction with the property altogether… but something as basic as a perc test and survey will apply to most potential buyers (and it’s not terribly expensive to do).

If you have created a land contract, you’ll also need a memorandum of land contract. This is, essentially, an abbreviated legal document that references the main contract created. This simply serves as a public notice that the buyer is interested in the property without you and the buyer having to disclose and record the entire land contract. Because the deed of the property will not be filed until you’ve received full payment on the purchase price indicated in the contract, this memorandum will be filed with the county and the city to serve as a record that the buyer is interested in the property.
Promotion Agreements. Agreements of this type are arguably now more popular amongst developers than traditional option agreements. They allow the promoter, often a developer or specialist planning consultant, to apply for and obtain planning permission at their own cost. Once planning consent is obtained, the landowner must sell and the promoter receives their fee out of the proceeds. BHW has produced a detailed article on this type of agreement. Landowners will need to negotiate to protect their interests under these agreements and specialist advice is essential. One of the points to consider is how long you are prepared to be tied into such an agreement.
Investors look for future potential. A priority would be to look at a municipal developmeant plan to see if the property is within a plan area. Personally, I would never invest in land that is not already under a municipal area structure plan. If you want to take a risk, you could look for land that was in the obvious path of development and be prepared to hold the land for a very long period of time.
Thanks for the article Seth. Very informative. Vacant land is one of those types of property I’m coming across in my search for good deals on houses. I’ve been a little brave offering people a cash offer for their lot. Only to find out later the parcel has a myriad of challenges. (Most of which could be dealt with-time and money, but still not worth it). Thankfully nobody took the deals yet. I have learned a lot and gained more understanding. I am closer to getting raw land at a great price that is build-able! Articles like yours, helps guys like me, stay focused and saved from troubles! As we know the bigger the challenges and unknowns the higher the risk-and the payday. Tread carefully.
A major issue that we see when people try to sell property to their friends is that they’ll cut breaks for their friends. Perhaps their friend doesn’t have the money, so they’ll allow for later payment while transferring the property to their friend. Always ensure that you are engaging in a business deal that is within your best interests. If your friend does not have the money to buy the land, have a contract written up with payment details and guidelines. Never trust someone blindly - this is a business deal and should be treated as one despite your friendship.

The properties next door can have some MAJOR implications for the value and “sale-ability” of a parcel of land (e.g. – Think about it, would you rather live next to Yosemite National Park or a Landfill?). For understandable reasons, most people care a great deal about who and what they live next to, so be sure to get a good idea for what the surrounding properties look like (hint: this is another potential area where a service like WeGoLook can help).
As for pricing, your suggestion of $20,000 x 98 seems high for a sliver of road frontage to add a turn lane. Granted, you have the right to try to sell your property for whatever you think it is worth (unless it is a government taking for market value, or if you just don’t own the property in the first place), but that does not mean someone will buy it if it is overpriced. The developer likely has other options. Usually valuations in a situation like this are based on an appraised (or negotiated) value per acre or square foot, and then a survey determines the precise size of the sliver of land that is being conveyed at that rate.
Settle on a price that is acceptable to both parties. But don’t exceed the price you initially set as your maximum amount to pay. No property is worth paying more than you can afford. "Decide what a transaction is worth to you. A property may be worth more in value to you than the actual appraisal. Take the emotion out of it and deal with it in terms of dollars and sense," confers King. And, "don't be afraid to walk away from a deal, just do so with a handshake and a smile and do not burn that bridge."
The hard part, however, is getting your neighbours on board if that’s what you’d like to do. Offering a developer a larger parcel of land can be more profitable for them, and therefore more lucrative for you. This will require negotiations and time, possibly between yourself and your neighbours or between your agent and the neighbours. Be prepared that not everyone else will want to sell, even if there’s a big payout promised. Make sure that the extra effort will be worth the final sales result by comparing an estimated selling price for your home with what your portion of the sale will be if you sell to a developer.
On the surface, it seems like such a simple creature – but there can be A LOT of potential problems lurking beneath the surface of any piece of land. I wouldn't necessarily say all these issues are common, but the fact is – any one of these things could potentially be a deal killer if not addressed properly. When you take it all into consideration, it adds up to a sizable list of things that ought to be investigated as part of your due diligence process.

Hire an appraiser to determine the value of your land if you don't have the market knowledge to do it yourself. Without knowing what your land is worth, it will be hard for you to assess the strength of the offers that you receive. The appraisal will also determine the highest and best use of the land, and you can use that information to target your marketing activities.


Fortunately the lot is over 500 feet deep. The price reflects the known fact that the front erodes due to natural occurrence. I really love this lot but am scared that it might be too many loopholes and fees to deal with DEQ regulation because of the topography. Do you recommend walking away from this lot? It’s only $25000 and is less than 1/4 the cost of almost any other lot half its size anywhere else in the state.
I requested a quote 13 days ago & I accept the fact that you are back logged & it could take up to 14 days to get a written response. I just hope that you seriously consider our property for purchase. It really is a great lot. We had plans 13yrs ago to build a house with a walkout basement & even add a pole barn to the property. Times change, situations change & we've been trying to sell this since 2008. I'll keep my fingers crossed & hope that I hear a response with an offer very soon. I appreciate that you look at every property & realize it might take a little longer than 2 weeks to hear something. Thank you very much for your consideration. Amy
Hi David – it would depend on what financing you can get for the land… and since most banks don’t finance land without an immediate plan for development, chances are, you’d either have to pay cash or find your financing from a separate source (like if the seller is willing to finance it, or if you’re able to obtain a loan with some other collateral).
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.

If a property doesn't have access to one or more of these staples of reasonable living, the property (for all intents and purposes) may not be considered build-able. After all, who would want to build a house where they can't flush the toilet or get access to clean water? If a property isn't build-able, you will lose a massive portion of the property’s usability, marketability and value. Since most people buy land with the intent building on it, you will definitely want to be aware of anything that could become an obstacle to that objective.
Once we have completed our title examination and have established that there is clear title to the property, we will coordinate with you to set up closing. A title professional will prepare the necessary documents for you to sign, notarize, and return to them. Once the signed and notarized documents are received, the agreed upon funds are distributed and you get paid! Our process is simple, straightforward, and typically takes about 2-4 weeks to complete.
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