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Selling Land

Top 5 Tips for Land Sellers

A parcel of land can be a great investment, especially in today’s real estate market. Not to mention, selling undeveloped land is relatively straight-forward, especially since sellers typically don’t have to deal with actually preparing the land for construction of a residential or commercial building (that responsibility is passed onto the next investor). Still, for those looking to sell land and do so both quickly and at a good price, there are some tips worth keeping in mind.

1. Do Your Research
Even for those selling completely undeveloped land, there is a bit of research that should be done to ensure the land is listed at a reasonable and fair price. For example, those interested in selling to a residential real estate developer may want to look into utility access and the anticipated costs of having these utilities run to the new property. After all, this is something that investors will want to be aware of and factor into the cost they’d be willing to pay for the land itself. Taking the time to research zoning possibilities is also important, as not all types of land will be zoned for all types of construction.

2. Anticipate Questions
Any experienced land buyer is going to have a number of questions when it comes to a potential land investment, and by having already anticipated some of these questions, sellers will be able to more accurately and quickly answer them. For example, a potential buyer may want to know about the conditions of the soil, as well as access to nearby services and amenities.

3. Look Into Subdividing
One option land sellers shouldn’t neglect to look into is that of subdividing the property, especially if it is large enough to do so. Subdividing essentially involves separating one large piece of land into several smaller parcels; this is a great way to earn a larger return on investment than selling the entire property outright, though it may take a bit more time and logistical effort. Subdividing tends to be an especially wise choice for residentially zoned properties, but sellers should carefully research this option and consider the pros and cons before making a decision.

4. Don’t Neglect Curb Appeal
What many sellers fail to consider when listing a parcel of land for sale is the “curb appeal” of the land itself. Much like selling a home or even a commercial property, some land buyers will judge a book by its cover, so to speak. While a piece of undeveloped land doesn’t need to be picture-perfect by any means, there are some steps sellers should consider taking to boost the appeal of the property before listing. Keeping grass cut and trash cleared will make a big difference, as will cutting and clearing any fallen trees or other debris from the property itself. Placing “no trespassing” signs on the property is also highly recommended.

5. Market to a Wide Audience
Making it as easy as possible to secure financing for a piece of land is another great way to expand one’s audience of potential buyers. Sellers who want to maximize their earnings potential can consider offering seller financing as an option, which may greatly expand the number of prospective buyers.

These are just a few of the best ways that land sellers can sell their undeveloped properties quickly and for a fair price. By implementing some or all of these tips, sellers will be in a great position to maximize their profits and turn their land over to another developer or investor.

This guest post is courtesy of Preston Guyton, Broker in Charge/Managing Partner at CRG Companies, Inc. For more information, visit www.crgcompaniesinc.com.

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