When selling vacant land quickly, it’s important to avoid making these eight mistakes
How to Sell Land Quickly: 8 Mistakes You Should Never Make
1. Establishing an Excessively High Price
The asking price that you set for your unoccupied land is the primary aspect that will determine how quickly you sell your vacant land.
Consider this: if you set the price of your land at $10, wouldn’t you be able to sell it in a day if that was the asking price?
2. Deciding not to utilise the websites advertising “We Buy Land”
You may guarantee a quick sale of your land by offering it for purchase to an experienced investor in real estate.
Why wouldn’t you take a few minutes out of your day to do some online research on ‘we buy land’ companies?
The process of selling your undeveloped land can be sped up and simplified when you work with an experienced real estate investor.
3. Not Answering the Phone and Instead Responding to Emails
Oh no…please spare me yet another call from that auto warranty scammer!
However, if you are trying to sell your land quickly, missing a call from a potential buyer could cause the sale process to be prolonged even more.
4. It Is Not Clearly Identified Who Is Listed on the Deed
When you go through the motions of selling vacant land — advertising your property, searching for a buyer, and negotiating a price – only to discover that you do not have the legal authority to sell your property, it may be a very disappointing experience.
It is a waste of effort and may frighten away the buyer you want.
Assist in accelerating the process of selling your land and determine whether there are any factors that would prevent you from selling it on your own lawfully.
5. Failing to Take High-Quality Photographs of Your Empty Land
Advertising your unoccupied land online is essential if you want to sell it in a short amount of time.
In order to accomplish this, you will require high-quality marketing images of your house and the neighbourhood in which it is located.
But what if you don’t live close to your land, or if for some other reason you are unable to physically go out and inspect it? (For additional information, see below.)
6. Failing to erect a “House for Sale” sign
If you are unable to personally go to your property, you should think about hiring someone off of Facebook or Craigslist to do the work for you.
You are able to request that they take photographs and put up a “For Sale” sign.
7. We will only take payments in full in cash
If you want to sell land quickly, you should think about providing owner financing for potential buyers.
When you sell your land using owner financing, you agree to take a lower payment up front from the buyer, who then makes the remaining balance of the purchase price payable to you in monthly payments.
But keep in mind that it’s not always simple to get owner financing.
When compared to a sale for cash only, maintaining a mortgage requires a far greater amount of documentation to be completed.
In addition to that, you will need to manage some legal concerns.
And what happens if the purchaser decides to stop making payments? Will it be necessary for you to retain the services of an attorney in order to lawfully foreclose on the buyer?
8. Hiring a Real Estate Agent
Most real estate agents aren’t professionals at selling vacant land.
The great majority of real estate brokers have received training in the process of selling homes.
Consider selling your land by owner if it is undeveloped and has a worth of less than fifty thousand dollars.
Check out this article for additional information where we discuss the four main reasons why it is not a good idea to engage a real estate agent.
Selling Undeveloped Land
Do you want to find a way to quickly and easily sell your unoccupied land? Tell us about the land you wish to sell by following the second piece of advice in this article. Please fill out our form, and we will forward the information about your property to a total of 12 qualified land buyers.