Environmental issues. Contaminated land is what springs to mind when environmental issues are mentioned, but in this scenario, what is most likely are potential flooding or drainage problems. A history of flooding or waterlogging is clearly not going to be welcome news for a developer, but equally if the land has been used for potentially contaminative uses in the past or is near to sources of contamination, remember that remedying any actual contamination is costly and will significantly affect the value of the land. Any past surveys or reports that have been carried out should be to hand if required.
Today I had a land owner tell me to keep her property in mind, and that she would pay my fee if I sold her land. She said she did not want to list her land with an agent because the previous agent she used did not even bring her one offer during the time of their listing contract. That is understandable from her side, but the odds of me making that sell are pretty slim.
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.
Thinking of selling your land? Whether youre working with a real estate agent or selling your property on your own, there are certain documents that youll need in order to close the deal. While requirements may vary depending on your state, there are a few general documents that youll need in order to legally transfer your property to the buyer.
I have lived on this property for 20yrs. Its in Harrison county in WV, I have been trying to buy it for 20yrs. I have a doublewide on a permanent foundation, a 16×16 permanent building, a pool with a 40×60 deck around it, all underground utilities, septic tank with fields, and $10,000 road and parking to the house, THIS IS ALL INVESTED BY ME,, this was all on a verbal family deal , (a hand shake like in the old days, when your word actually meant something) and we were supposed to be the first option to purchase if sold , now they have put it up for sale, we have offered them $1,000 over asking, they have not accepted our offer, they have continued to keep advertising the property for sale, what are my rights as a buyer when this situation occurs as a buyer that has a dwelling on this property for 20yrs.
"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.
Great information.. l just acquired a parcel of land on the coast with a beautiful ocean view. The city says it can be broken into three or maybe four lots. It has all at street , water sewer, electricity, etc. for one lot., lm to old to fool with it and needed some ideas of how to market it , pre Estate sale. Your list gives me lots of ideas, where l had none. Thank you so much….
You mentioned that the adjacent development already is “underway” and that the developer recently sold 92 lots. This makes me wonder why the developer would be coming to you now about roadway frontage for a turn lane. Usually the road improvement plan is in place prior to the subdivision being formally approved and recorded and the developer secures rights to all of the land it needs for turn lanes in advance. The existence of lots in this development suggests that the road plans already should be approved. Get information from your local planning or subdivision department (as applicable, or possibly the DOT) and see if you can find the plans for offsite road improvements for this subdivision. It’s possible that there was a lapse in the planning process — or that the original roadway improvement plans have expired if the project was abandoned during the downturn — and the need for land for a turn lane has recently come to light. Do your research to understand the facts.
I recently had the opportunity to work with Grace Chang regarding the partial purchase of a note that I brokered to FNAC in 2015. Grace informed me, out of the blue, that FNAC would purchase an additional partial, or the full remaining balance, if my client was interested. I contacted my client and she was very pleased with the offers from FNAC. My client happily opted to sell an additional partial, and, thanks to Grace's knowledge and professionalism, the transaction was completed quickly. Grace Chang is a pleasure to work with!read more
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Whether you are working with a real estate agent or not, we absolutely encourage you or your agent to target your marketing to the right types of buyers. Adding a development parcel or lots to a general real estate listing site, or even MLS, just doesn’t get your property the exposure you would want to builders, developers, investors that are actually looking to buy this type of property.
Great list of ways to reach potential buyers Seth! If someone does ALL those, they’re very likely to get their house sold. We Buy Houses investors can be a great way to sell your house fast if you are short on time or don’t want to mess with the hassle. Otherwise offering the seller financing option can be a game changer and even more profitable for sellers. If you’re in a position to offer that, be sure to vet your buyer for their ability to make good on the payments. Thank you!
I am looking at 95 acre property for hunting and camping listed at $132k in southerm PA, property will be timbered before sold and closest electric pole is approx 1/3 mile away from where i would build small cabin. I could use a generator since cost to run power would not be feasible. I am still interested but think the asking price is to much since this is not really a buildable property and has limited market value. typical buildable property with electric access is approx $2k an acre in the area. What should I offer? I was thinking possibly 95K?
It was a very simple process. Even though everything was done remotely, it was just as good as if I was standing in front of the person doing the deal. Paperwork was received really shortly after I spoke with Jake. We got it all signed, sent it back, and shortly thereafter we received the money. Everything was done very simply and it was very easy to do.
It’s an odd phenomenon, but believe it or not – there are thousands of properties all over the country that have no road access. They are surrounded on all sides by other private property – which (according to some) deems the land virtually useless. In a sense, these properties might as well be on the moon – because nobody can legally access the property.
Honestly, since you’re the buyer, there’s no real reason not to use a realtor (because they’ll take their money from the seller, not you). I’d just be sure to get one who knows their stuff (i.e. – make sure they have some level of experience dealing with vacant land, as it’s a whole different animal than what most realtors are used to dealing with).
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.
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.
If you want to get the inside scoop on how to start and run you own land investing business, come and check out the REtipster Club – where you'll get access to a full 12-week course, videos, bonuses, downloads and a members-only forum (where I spend time answering questions every week). There is no better place to learn this business from the inside out.
Use a title company if you are not familiar with deeds, deed conveyance and closing of real estate. I prefer First American Title and you can find them anywhere. They will handle the monies, title search, title policy, deed, recording of the deed and pro-rated taxes, etc. Fees will vary and you can certainly negotiate. Typically the seller pays for the title policy and the buyer pays for half of the escrow fees. You can always charge an extra recording fee to offset these expenses.