If the property is part of a Home Owner's Association (HOA) it will most likely have even more stringent restrictions in place to help maintain the “quality” and formality of their neighborhood. The idea is to keep any bizarre behavior OUT of the neighborhood (e.g. – cars in the front yard, lawns nobody takes care of, houses that look out-of-place or aren't built to code).
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).
Very interesting read. I am looking at some desert land in both NV and AZ. They are between 40-80 acres each. My budget seems to afford places that either have an old well, or power at the lot line, but not both. Which utility do you feel is initially more critical to have of the two? I know adding a solar system or having power brought in is very cost prohibitive, so my thought was to go with the power on the lot. I figured I could always have water trucked in and stored in a tank since the properties are easily 2WD road accessible. I figure that buying property with an old well may be worthless and not worth the price increase of the property. And I have been reading that drilling a well is a gamble. Thanks in advance for some insight.
I would like to thank Mallory Herrera for the great job she did when she bought our note.She was always courteous no matter how many questions i had for her,and never felt any pressure from her to sell.She kept her word on the price she quoted from the beginning.Always answered her phone when i called no matter what time of day.She gets five stars from me and if i could give her more she will get them to.Good luck for the future.read more
Hello and thank you for this great topic. I have about 4 acres of land in on my residential property. My home is on the river with a dock etc and has about 1.5 acres itself. I have these 4 parcels of land that can be developed into residential properties yet I have no idea how to approach a developer. There is easy access to the main road and I have been told I could subdivide these plots and also provide river access via a trail running along the side of my house, that wouldn’t actually interfere with my main home at all. Should I simply put a sign up advertising these available lots or should I contact private home builders in the area. The home is in a highly sought after area where many would like to build homes. The previous owners told me they had been offered well over $1.6m for the lots but turned them down.(They were elderly and didn’t want to sell just the land). Any suggestions would be greatly welcomed! Thank you!
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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!
If you really are looking for that sell my land fast solution you need to be prepared to also work the contacts that you have made yourself over the years. Make sure that you tell all those who you come in contact with both on a social or business level, that you have land for sale. They, in turn, may pass the word along. Networking is everything in this technological age and selling land online in no different.
If you have created a land contract, youll 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 youve 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.
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The gross value figure per acre that the land is worth once it has planning consent in your locality. This is normally referred to as ‘the headline price.’ Developers generally make deductions of up to 10-15% to the headline price to cover the costs of their efforts to secure consent. It’s very rare indeed for a developer to offer a landowner 100% of the headline price!
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.
If youre providing seller financing, youll still need to draft a deed, but this deed will be held in escrow until the final payment is made. Once that payment is made, the deed will be filed with its respective government agency, typically the county clerk. You can have an attorney, title agency, or a financial institution hold the median in escrow for you until the buyer makes the final payment.
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To cut to the chase, selling a rehab home can be very challenging as you are trying to sell a drab of a house, a house that was once tattered and yet you transformed it into something that is undeniably gorgeous and make sure it is marketable and profitable. This is the goal when you want to venture into selling rehab homes as a real estate investor.
Maurice "Moe" Veissi, president elect of the National Association of Realtors says that the first step in negotiating a fair land deal is to make sure that it’s a clinical, not an emotional purchase. When it comes to a land purchase it is not unlike buying a car, he says. For example, would you purchase a new car without knowing what it is you want, what price are you willing to pay, and what the average purchase price is for the car you are eyeing?
It depends on a number of factors, are you trying to find cash buyers for your land, what is your time frame to sell the land, and are you trying to get full market value for the property, and how much work do you want to do to sell it? Depending on your answer to those questions the method by which you decide to list and market the property is going to be different.
Always offer to ‘show’ the property to prospective buyers. It’s an obvious step for home sales, but some people neglect it for land sales because they believe there isn’t a lot to really show. That’s the difference between a strong seller and a poor one. To be a successful salesperson, you’re always selling. You want to show the buyer the property lines, and then, lead them out to see the neighborhood, local businesses and other aspects that could seal the deal.
My only real complaint with Zillow is with their video feature. While I'm certainly glad they provide ANY options to add video (unlike most of the free listing sites I've come across), I'm not a huge fan of their 2-minute self-shot video option. It's not easy to show a property in it's best light in under 2 minutes and/or by only using the camera in your pocket. It's unfortunate that they don't offer the ability to upload or embed a higher-quality, better-produced video. If they added this option, it would be a MAJOR improvement to their FSBO listing platform.
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.
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.