Land selling is different from selling homes, and it’s crucial to learn the ins and outs before going on the market. Keep in mind that land buyers nowadays are not only spoiled for choice but also more knowledgeable than ever. As a result, you should make a strong effort to ensure that your land looks appealing to prospective buyers and doesn’t sit on the market for a long time.
To get started, learn some common mistakes to avoid when selling land.
Skipping the “We Buy Land” Companies
Selling your land to professional land buyer companies is one of the easiest ways to sell your land fast. Professional land investors like SimpleLandSelling are always looking to buy vacant properties and are committed to making the land selling process as hassle-free as possible. The best thing is that the “we buy land” companies purchase the properties without financing but in cash. Additionally, they cover title, escrow, and closing costs, and you’ll save even more money by avoiding broker commissions and listing fees. The process is straightforward from start to finish; it takes only about a week for the land investors to research your plot of land and give you a fair cash offer, make a deal, get through with the sale, and get paid.
Not Understanding Who Is Your Ideal Buyer
One of the biggest mistakes people make when selling land is not putting the effort to understand who is their ideal land buyer. The target buyer will vary depending on the property you’re selling, where the land is located, and, again, the state of the market. Consider who would be searching for a property. For instance, is your property best fitted for a family hoping to build their dream home or an investor seeking a vacant lot for their upcoming venture? Having this information will help you tailor your land listing and market to the right group of people.
Having Insufficient Information About the Property
Lacking the essential information about the property is a big turn-off for potential buyers. People will want to learn as much as possible about the plot of land before they decide to contact you. Therefore, be prepared with the most current information on zoning, utilities, the neighborhood, and amenities that are close by. In addition, potential land buyers might be interested in learning more about the soil, the type of septic system in place, the property access, and taxes on the property, so it’s good to have this information as well.
Lacking a Clean Land Title
The process of selling land by owner can be a time-consuming experience. You wouldn’t want to reach the point where you negotiate the price with a prospective buyer only to learn that you don’t have the legal right to sell the plot. This can significantly prolong the process and even scare off the buyer. That’s why you must ensure your land title is clear before selling. You should contact a title company or attorney and ask them for assistance. Also, if you’re selling to a “we buy land” company, the team can help you clear the title of your property. Depending on the specific issues, liens, and encumbrances, they will determine the ideal solution for you.
Using Low-Quality Photos
You must adequately market your land, whether it is for farming, residence, or recreation. The secret to the successful selling of land is a good presentation. So, avoid utilizing grainy images which might steer a potential buyer away from your property. Instead, take high-quality photos of your property using a professional camera. The ideal situation would be to work with a real estate photographer. They will likely use a variety of angles when taking pictures and make sure to showcase the property at its best.
When selling land, it’s essential to invest time and resources in regular maintenance. Don’t make the mistake of keeping the property in poor condition because some buyers will decide to drive to the property before even connecting with you. Keeping the property well-maintained and clean will ensure you leave the best first impression.
Selling at the Wrong Time
Don’t neglect the importance of checking the current market state before selling the property. Selling at the wrong moment could mean losing money. Real estate buyers usually go to view properties during summer. The pleasant weather makes prospective land buyers more inclined to visit land parcels for sale. Conversely, sales numbers may fall off over the winter. This does not, however, imply that the land market is stagnant. Quite the contrary — the real estate market is unpredictable, and land sales can go up and down depending on multiple factors. Dedicate time to understanding the market fluctuations and identifying the peak seasons when people are looking for raw land. It’s crucial to have the latest information about the local real estate state and market conditions that might affect your plot of land.
Not Being Proactive
When someone inquires about your property, they expect to hear from you as quickly as possible, if not immediately. By simply not returning their call, you could hand them over to your competitor. Another mistake land sellers often make is not having the necessary information at hand. You should take immediate action after receiving a lead. Return phone calls and emails as soon as possible and be ready to provide any information prospective buyers might ask.
By avoiding these common mistakes, you can sell your land faster. The right strategy will find the right buyer quickly and get the best value from your property. If you’re looking for a smooth selling of land experience, don’t hesitate to contact SimpleLandSelling. We’re constantly on the lookout for properties to buy in cash, and yours might just be what we’re looking for!