The Nest

NestApple's Real Estate Blog

Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.

Selling A Vacant Land: What Are Your Options?

Go Back To Previous Page

You’ve chosen to sell your home, but you’re not sure where to begin. You presumably want to grab the best deal possible, but how do you go about doing so? Selling A Vacant Land without a realtor might be more challenging than selling a home. But depending on its zoning and resources, specific plots of property can be pretty valuable. Sometimes, however, you can be selling vacant land at a loss with the tax implications of selling vacant land at a loss.

There are several options for selling your land fast and efficiently. Continue reading this post to learn about the possibilities for selling your land:Selling A Vacant Land: What Are Your Options?

  1. Employing Local Agents

A real estate agent, commonly known as a realtor, can work with you to secure the best deal possible for your property. They will market the property for you, deal with the buyer, handle all the paperwork for sale.

Also, they represent you throughout the sale process. As such, your property will appear on many major listing sites, and it’s more stress-free.

One major drawback of employing local agents is the commission you will have to pay after selling your land, and they usually receive a 5% portion of the property’s sale price.

However, given that selling your land requires less effort on your part and that the agent would handle everything, this commission may be sensible.

  1. Selling A Vacant Land to Land Buyers

Selling vacant land without a realtor is a challenge.

Instead of selling your property either through an agency or on your own, you may sell it to a land-buying firm. Selling in this manner allows you to instantly get rid of your land, and you put immediate cash on hand and avoid paying fees or commissions to an agency.

Sellers like Sell Land consider this approach to be the best strategy. Click here for their explanation.

  1. Placing Ads on the Internet And Newspaper

Today’s world is far more complex and fast-paced than ten years ago. In some ways, technology has made property marketing simpler by making itSelling A Vacant Land: What Are Your Options? easier for buyers to find, analyze, and compare available listings.

There are several online resources now that can assist you in selling your land by displaying your property to potential purchasers, and all you have to do is:

  • Take photos of your property.
  • Define the land’s dimensions or size.
  • Include any available distinctive features of the property (such as an existing structure or a body of water or land).
  • Specify if the land has access to a road and other amenities.

When placing ads of your land online, you’ll want to be sure to include as many facts as possible about your property and be prepared to answer questions about it. Also, you’ll likely be presenting your land to prospective buyers before the sale.

Furthermore, don’t rule out selling through your local newspaper’s classified advertisements. Most sellers are unaware of this technique, yet this can be an efficient approach to sell your property.

You’ll find that many people are interested in purchasing your land if you use this local listing technique.

  1. Advertise To Friends Through Social Media

This is unquestionably a viable option. Advertising to your friends allows you access to a potentially profitable market where you could sell your land or help someone with a property deal.

Thanks to technology, once again, for the development of social media platforms, selling your land to your group of connections has never been easier. You can directly post your land and even organize an open house on Facebook, Instagram, and even Twitter. You can even try running a sponsored marketing campaign if you want to promote your listing to people near you.

The cost of the marketing campaign is very affordable, and it is undoubtedly worth it.

If you’re selling your land to a friend, make sure you have a formal agreement or contract in place to make sure you’re both on the same page about the terms of the deal. You’ll also want to be firm about payment and ensure that you are paid in full to avoid any problems later.

  1. Join Land Auctions for Selling A Vacant Land

This is an excellent option for selling your land quickly, especially if you’re willing to sell the property at a bargain. There is no guarantee that it will succeed; nonetheless, the bidder must pay a fee.

Most importantly, check to see what commission the auctioneer is charging since charges can range from 5% to 10%. The seller is usually responsible for paying the fee, while the buyer sometimes pays a premium.

  1. Selling A Vacant Land To The Government

If you have a large lot in a remote location, you may be able to sell your land to the government in some nations and states. The government may be keen to buy the area for its natural resources, preservation, or other purposes.

For instance, if your land is in the countryside, the woods, or has wetlands, your government may be interested in it as a nature reserve. Similarly, if the area has natural resources like coal, timber, freshwater, or oil, your government may be interested.

You can find out their qualifications for land selling, and if your property is qualified, you can contact your government via their website, email, or phone.

Conclusion

Selling land may be a complex process that involves some effort on the seller’s behalf. Selling vacant land without a realtor is not easy. You need to locate a keen land buyer and close a deal immediately. But if you follow one of these options, you’ll be selling your land in no time.



Written By: Georges Benoliel

Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.

RSS Feed