Six easy steps to Sell Your Land Fast
May 7, 2020 Land For Sale
Are you trying to free up some cash for investment or move on to another property? If you are trying to sell your property and want it gone quickly, there are a few steps you make to get it gone faster.
1. Make some cheap and easy improvements.
The value is in the property, and it would be difficult and expensive to make any significant changes. That being said, you can do some cleaning up to make it more presentable to potential buyers. Having an area of the property where a home or farmhouse could go may allow potential buyers to picture options better. It will also make the property look managed and less work for the new owner. Clean the roads, clear some land, prescribe burn if it's due, and fix some broken fences; Anything that may subtract from the total visual appeal of the property.
2. Price it accordingly
Do some research to make sure you don’t price out of the market price. See what other properties of similar size in the area have sold for. Account for features on the property such as buildings, water sources, and agricultural benefits that could increase the value. The lack thereof will likewise decrease the value. This will make sure you are in the right range for potential buyers and not being overlooked.
3. List it
Now find the right broker and have it listed. List it everywhere. Facebook, craigslist, Hunting Locator, Zillow, etc.; any land listing site where the potential buyer will be snooping is worth the listing. Be sure to include a thorough description of all of the assets the property has to offer
- Income generation
- Agricultural fields
- Describe species and quality of hunting
- Lakes, ponds, creeks, springs, or rivers
- Wells that have been drilled
- Power sources
- General Location
- Any tools or equipment going with the land
4. Have all of your paperwork available
While you wait for the phone to start ringing, you have more preparation work to do. Gather all of the paperwork needed to make the sale. Find the title, gather maps that show the property lines. Have the property lines flagged on the property if they aren't prominent and directly visible. Get any paperwork you have regarding leases, mineral rights, easements, access, and anything else associated with the property that either needs to be transferred to the new owner or could come in handy.
5. Understand the cash flow of the property
Know the ins and out of the money flowing through the property. You may have bought the property as an investment property, or the new owner may be interested in trying to make money. Even if both parties' intentions with the property are recreational, money flows through the property. Cash flows out in the form of maintenance, food plots, property taxes, equipment, insurance, and travel to the property. Know these numbers as they can help persuade a potential buyer that they can afford the property. Likewise, if the property has income, know the ins and outs of that. Does it make money from leasing, farming, timber, or anything else that could bring in money? Does the property pull a profit? That's a huge selling feature that would make the property highly desirable and more valuable.
6. Be negotiable
The last tip is to be negotiable. Don't be too stubborn to pass on a good deal in the effort to stretch a few thousand dollars, especially if you need the money for another, hopefully, profitable investment. Be reasonable, don't give the property away but be willing to work with a buyer. People are more likely to pull the trigger when they feel like they got a good deal, even if it's a small