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).
Double check ad data for any property you’re considering; they’re often full of mistakes – not necessarily misleading information, but it comes from laziness. What doesn’t help is that when a listing first gets posted, apparently nearly all real estate websites post it as their own without checking it for accuracy. For example, we’re considering a property that has multiple issues:
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!!!
We hope this helps provide valuable insight for landowners about the pros, cons and items to evaluate when considering subdividing your land. Check back soon for our second article in this series about Subdividing Land: Tips for Landowners from a Developer, where we will describe some real world issues that we have seen in subdivision attempts. Plus, the third article in the series will provide hands-on details about the steps to take if you decide to subdivide your land into lots.
Hi Seth – very helpful blog indeed. I have recently been given the opportunity to buy the 6-acre wooded lot, zoned residential, that adjoins my already-owned 3-acre lot for $64k. I know the terrain of the 6-acres quite well as I’ve had to chase my dogs all through it when they get loose. On the back end is a power line right-of-way, so certainly nothing will be built behind it. It does have a site cleared for up to a 4-bedroom home, a “proposed” well location, and although the site will not perk, the seller has an off-site discharge permit issued from the Virginia Department of Environmental Quality for a sewage disposal system. The owner will finance, with $998 down payment and $688/mo for 10 years, but that comes out to a LOT of money for 6 acres so I would likely come up with 40 percent down on my own, and pay off the rest with a personal, lower-interest loan. My concerns when it comes to land, especially as an investment: would the monthly payment for the land not be better spent to pay down my existing mortgage? Or, would the monthly payment for the land not be better invested in something with a higher rate of return? Of course, from a diversification standpoint the land may make perfect sense. I live (and the land is located) in an area mid-way between Washington, DC and Richmond, VA – – – an area that is growing like mad. I have a tough time believing that in the 15 years I have left until I retire I would LOSE money on the investment. And unlike a 401k or an IRA, which can disappear overnight should an economy tank, land will never be totally worthless. I would not actually DO anything with the land (aside from perhaps harvesting some firewood) other than to HOLD it for 15 years until I retire and leave this area.
In the very least, your land contract should include the address of the property and a full legal description of the land. It should also include the down payment amount, purchase price, the number of payments that will be made, the monthly payment amounts, and any balloon payments that may be required. You may also consider creating and attaching an amortization schedule.
i am very confused on what to do. i have 2 lots in the 100yr floodplain with up todate septics and electrical poles. i have rented 2 spaces in the pass for 250 each. However i am allowed to put 2 mobile homes per the permit office. i can rent each home for appox 800 a month. the land is paid for and very low taxes. or i can sell the propery on owner finance for 55,ooo, the property does have a creek behind it and the creek is a floodway. the total land is approx 1.63 acreas. should i sale the property since. its in a floodzone or put the mobile homes and have a good rental income. what would u do. would u even rent in a flood zone. thank you, please respone for 2 months i have been undecided on what o do.
I am searching for land also. I would like it to have a septic and well. I have been using zillow and landwatch.com. I have tried reaching out to real estate agents for help but they haven’t been very helpful. I was wondering would you be able to share how you find this property with elec, well and septic? Was it posted online or through a real estate agent, etc?
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!!!
That's tricky. It is not as easy to find a buyer for land as it is for a residence. Not all buyers have the resources or the vision to do a project like that. I would say try marketing to a builder that will put something on it, or try marketing to those that would like to build. First, and most important is location. What is in the area. Is it a highly sought after residential area, is it a commercial area. Know what your zoning is, and who this piece of property would appeal to. You have to have some kind of a vision for who it would suit in order to know who and where to market it.
I’m sure it could be done. I actually live in a subdivision that started exactly like how you’re describing back in the 70’s. I think it can be a pretty big speculative gamble unless you’re absolutely certain that there’s a huge demand for what you’re creating… but if you end up being right, you could easily make millions (depending on how big of a project you’re looking at).
ClassifiedAds is another free listing website with a similar look and feel to Craigslist. You aren't required to maintain an account here, and the ads on this site also come with a nice little inquiry form at the bottom of each listing – so it's one less step for an interested party to contact the seller for more information. The listings also allow sellers to link to third-party websites, which is a nice little extra feature you can use to send extra traffic to your selling website.
In order to determine the right buyer for your land, look at the highest and best use to determine where to start placing ads. If it is country land that is perfect for hunting, look for local outdoor forums and clubs to advertise your land. If it is a good home site, a land broker or traditional real estate agent may be best. You can also contact the neighbors, who may be interested in extending their property.

Here are reasons why I believe an Exclusive Listing Agreement is better for the seller when it comes to selling land. (Let me preface all of these reasons with the assumption that you have researched prospective listing agents with experience in selling land and you are only going to deal with ones that appear to be qualified and have good reviews. For more explanation read, “Not All Agents are Competent About Land.”

LANDFLIP is a beautifully designed website that is very user friendly. They've done a great job of providing users with high quality content and providing us with great exposure for our properties. Their customer service is superb and their backend interface is extremely easy to use. I only wish there were more websites like LANDFLIP to showcase our properties on.
You’ll want as much money as you can make as quickly as you can get it – but developers play a longer and broader game.  Land you sell may become one small part of their land bank in your locality and, if you’ve signed the wrong deal, you may find they never get planning permission for your land because they choose to promote one of their other local sites which looks an easier consent to win.
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). 

Land Agents have Expertise: True land professionals know how to price and market properties effectively. Any agent you are hiring should be able to clearly articulate their strategy for selling your property. A good agent will employ multiple prongs for engaging prospective buyers, including advertising in print media (when appropriate), on the internet in key places people look for your type of property, and other avenues such as signage or word-of-mouth. Good agents have a proven formula for attracting the attention of quality buyers. I have my own multi-point system that I use for each listing that generates results.

One of the most important first steps before subdividing your land or land you wish to buy is to make sure there are no restrictions that will block your plans. Everything from ordinances, neighborhood covenants to deed restrictions may prohibit – or fatally complicate – your plans. Review these items carefully, plus order a professional title review (typically through a real estate attorney) so that you can understand whether there are any deal killing issues that apply to the property and prevent subdividing.
I am a relatively new real estate agent and just got a land listing. This is a great article with many helpful strategies for selling land. I think selling land can be a bit intimidating because most sellers have such high expectations that you will sell their land for them quickly and it usually takes much longer, as you pointed out in your article. Thank you for the great information!
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