Sometimes you find that the land you put on the market gets no bites, but you don’t want to worry about finding a buyer any longer.
This article covers all the best tips on how to get your land to sell fast whether it has been on the market for months or you are just now looking for options. In addition, it also includes the length of time that you can expect land to be on the market before being sold.
The first thing you should do is make the land look good and highlight the right information. You also need to determine a price that fits for the market of potential buyers. If you still have no luck, you can look for investors and developers or offer financing options.
We have experience in land acquisition, zoning, and personal experience adventuring on land around the country. We also have an inventory that spans over 5 Western states.
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On Average, How Long is Land on the Market?
Generally, this is a difficult question to answer because there are so many factors to consider. Location of the land and the current state of the market are huge influences on the ability to move land fast.
Typically, you can expect land to be on the market for at least 3 or 4 months and the average is probably closer to 8 months. However, in some cases a landowner will be able to sell in a month or two.
If you are looking to sell your land fast, there are some things that you can do in order to help the process go smoothly and to generate interest from potential buyers.
Tips for How to Sell Land Fast
If you want to get your land sold quickly, be sure to follow some of these good tips. In fact, these tips couldn’t hurt even if you are not in a rush to sell your land.
Determine a Good Price
A good price is not just a fair price for the buyer, but also a fair price to you, the seller. The price depends on the market and location as well as other factors including the land itself and the condition of the land.
While the price will determine your success or failure, you do not want to set it so that you feel cheated after the transaction.
The price that you set for your land will also depend on how fast you want to make a sale. If you want to get rid of the land faster and move on from it, then it would make sense to knock some money off the top. If you are not in a hurry to sell, a higher price may make more sense.
You can check out the market in your area to help determine a reasonable price. Check out fast sales and average sale prices for comparable land in your area. In some cases, it can be beneficial to work with an experienced real estate agent, broker, or assessor to help you set a fair price or to reach potential buyers. This brings us to the next tip.
Offering owner financing may not seem like something you want to do initially, but it can help you sell the property fast and you can still get a lot of cash in the form of a down payment. While banks often do not offer large loans for empty land, you can offer financing options yourself to attract more potential buyers.
Financing land is not for everybody, but it is something to look into if you are willing to consider monthly payments with interest to get rid of the property faster.
Know the Market and Reach It
At its most basic, land sales are just like any type of business, and that means that you have to market the land correctly in order to sell it. You will want a good understanding of the state of the market where the land is located and you will want to research similar land prices in the area. You may also want to compare the time on the market for different sale prices, especially if you are trying to sell it fast.
Marketing the Property
After you know the market, then you can begin to market the property. You can begin with your existing network of friends, relatives, and neighbors. People who own neighboring land are often a great place to start because they may want to buy the land to expand their ownership or to protect their own property.
You can even use social media to gain more exposure. The more people that know that the land is on the market means more people that could potentially lead to a sale. You can even put an advertisement in your local newspaper or post flyers on local shops and stores.
You probably already know how to do this, but don’t forget to put a sign up on your property. But here is an expert tip, do not use a generic, boring “For Sale” sign. Instead, you should have a customized sign that includes information for potential buyers like acreage or beneficial features.
You should also place the sign in a visible location on the property and make sure that passers by can read it easily. You may also want to include contact information like phone number, email, or website if you have one. Some even like to include color or other personality features to make it stand out (just make sure that it doesn’t distract from the information).
Finally, you can think about including your land on a listing service. While many of these sites like Zillow or Trulia are for homes, they can also be a great place to list land and other property. If the listing generates a significant amount of interest, then you could even sell it for a higher price.
Highlight Selling Points
In listings online or in real estate catalogues, be sure to include high-quality photographs that show good features and a detailed description that highlights the benefits of the land that makes it stand out. You want to make potential buyers believe that your land is better than any other land in the area, at least for the sale price.
The types of features and information you may want to include are land attributes, location, surroundings, uses, maps, and aerial shots.This can help prospective buyers imagine the way that they can use the land and understand the layout of the area.
Prepare the Land
If your land does not look presentable, then it may not attract buyers. Things like trash, debris, weeds, and overgrowth can turn a buyer off, even if the buyer doesn’t need the land to be well-kept for their purposes.
It is best to perform some general maintenance on the land before you put it on the market. If you want to sell the land quickly, then this is even more crucial. You want to make a good first impression. While buyers do not always care, the land may be more likely to peak their interest if it looks presentable.
Cut the grass, eliminate weeds and debris, trim overgrown hedges, trees, and other vegetation, and plant grass or wildflowers to cover up bare spots around the property. If there are any buildings on the property, make sure that they look neat and tidy.
Also, these things can make it easier for a potential buyer to take a look around the property. You never want to have holes, debris, fallen trees, or blocked paths that make it difficult for potential buyers to see if the land may suit their purposes. A quick look around can be your biggest selling point, or the thing that keeps you from selling the land the most.
All of these things will all allow the buyer to see that they will not have much to do when they buy the land. It will be ready to go for whatever they want to use it for. A buyer probably does not want to buy the land and then have to do landscaping and upkeep immediately.
You may even want to perform a land survey before putting the land on the market. This will allow buyers to easily see property boundaries which can be helpful. This can allow them to easily see whether the land will work for them and their needs and desires.
A survey can also help you eliminate potential problems with neighbors before the land is on the market. Land disputes are common and often become a bigger issue when land is bought or sold. You can prevent this with a proper survey of the land.
Find Investors and Developers
If you are having problems marketing the land to your area, then you can check out investors or developers that may be interested. Sometimes it is best not to use too many resources and too much time trying to sell your land and instead it can be beneficial to contact professionals.
Some professionals only buy large amounts of land at once, but others are willing to purchase small acreage land for certain purposes. In addition, this can be a faster way to sell your land instead of marketing it online and in your local area just waiting to pique someone’s interest.
In fact, we may be interested in your land and may be willing to offer you a fair amount. If you are interested in selling your land to us, let us know by...
About THE AUTHOR
We loved family’s outdoor adventures so much we started a land business just to help others buy their own land. We’ve sold to dozens of people from ATV weekend warriors to camping enthusiasts to retired truck drivers. Our inventory spans five western states. We’ve been trained by experience, land acquisition courses, and hundreds of hours meeting with county assessors and clerks, zoning officials, realtors, and land investors. We’ve answered hundreds of questions from people regarding the buying and use of land.Read More About Brittany Melling