Writing a legally enforceable contract for sale with your buyer means spelling out any contingencies like the buyer obtaining financing if needed and doing due diligence to ensure the property suits intended needs. Look online to review real estate land contracts for your state to ensure that you don't overlook crucial factors. Processing the sale through an escrow at a title company will ensure that there are no liens or other claims to the deed that could cause problems down the road. Title companies also make sure that all legal details are in order, all documents are properly prepared and signed and the deed is officially recorded.
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.
Its the perfect time to sell your land and develop. With the housing market on the up and the need for housing never more apparent, its greatly welcomed to find articles like this helpling the layman find his way through what can be considered a complicated process. http://www.richardhicksdevelopment.co.uk can advise on this process, help gain permissions and hold the land owners hand if needed. Happy to help if anyone needs further advice following this helpful article.
Get your title sorted. This may seem obvious, but title issues will deter developers and delay sales. Unregistered land, missing documents, restrictive covenants, boundary problems, lack of easements, or rights of access or rights of way- these can all be resolved but it is better to address the issue early and ensure the title is good and marketable. Does your land have direct access to the adopted highway? This is one of the key things developers look for.
Thanks Ann! I’m so glad you got some good value out of it. I think you’re probably on the right track in getting outside help with the zoning details – that can be quite a confusing area if you don’t have any prior experience with it. If you have a builder in mind, you may want to get them involved on the front end too – as they will be able to point out most of the important details you’ll want to evaluate before they’re able to start building (even if you don’t plan to build for a while, they’re still great for some free consulting if they’re expecting to help you at some future date).
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.
There is swampy/nonbuildable property next to me that is landlocked by 5 residential properties. We are interested in purchasing it – yes, we want landlocked swampland. We spoke to the owner who said he wants to sell it at whatever the going rate is for vacant land. Prior to offering him a very lowball offer, we’d like to gather resources that show the property’s true “potential” so that we don’t offend him. Other than a printout of a map, is there something more official we can acquire that shows he is landlocked? Also, the tax record shows the property’s assessed tax value is 100k, which is definitely inaccurate. Is there a way to have that reassessed to reflect its true tax value? We heard through a neighbor that it is recorded as nonbuildable and he doesn’t have to pay taxes, but I have not been able to find anywhere to verifiy that. Thanks in advance for any advice you can offer!!!
Hi, Jane. Some of your situation will depend on local regulations (as always), but I would think you could handle this scenario by subdividing the 2 acres off as a building site but your son still keeps the land in his name. In other words, there likely is no need to transfer the property to you at all (unless you just wanted to do it that way). If he keeps title you also may avoid incurring unnecessary taxes, transfer fees and other transaction costs. Check with a local real estate attorney, and good luck!
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
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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.
Even though Craigslist is clearly the winner in terms of traffic, it's not necessarily the most versatile medium. There are plenty of restrictions in place (like the inability to link to third-party websites and embed videos), however with the tools that are available – it's more than enough to inform buyers about what the property has to offer and drum up enough interest to generate some legitimate leads and sales.
If an application is turned down, it is usually because access to the site is difficult or it adjoins a main road. The ideal building site has frontage on an existing road. As little as 30 ft to the side of your house can provide enough land for a new house, although permission is more likely to be given on tight plots if existing houses in the street are closely packed.
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.
I didn’t expect the transaction to go as easily as it did. But, to my surprise, the whole process went exactly as was promised. The representatives I spoke to were professional, and did everything they said they would to the tee. Now I don’t have to think about or pay taxes for a piece of property I don’t have any use for. If I had more land to sell to them, I would most certainly use Easy Land Sell again.
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.