Selling land fast can be a challenge. Sales cycles for land sales are typically longer than homes or other types of real estate. Marketing and selling land fast can be a challenge, especially for a first-time land seller.
Here are some tips on how to sell land fast!
Price it right
People are always looking for a deal and pricing your slightly below market value is one way to attract the attention of motivated land buyers.
If you want to sell land fast, price is often the most significant factor. Discounted properties tend to sell much faster than those priced at or above market value, especially in a market where there is a lot of inventory.
Check out local listings, see what comparable properties are selling, and try and price your property competitively. If you’re motivated to sell your land fast and the price is not the biggest issue. Consider offering a price that is too good to pass up.
Price is king, so pricing your property right is one of the first steps to selling your land.
Have Your Land Information Ready
Research the property thoroughly before creating a listing, and make sure you have all the necessary property information included in your land presentation. Informed land buyers are more likely to make a decision, and having all the information available to your buyer will allow them to move forward with a sale faster. Make sure and provide any information you’re land buyer will need and make it readily available.
Having pertinent property information accessible to your buyer makes selling your land fast possible because it eliminates the buyer having to spend valuable time collecting the information on their own.
Increase your Exposure – Find Multiple Listing Sites to Sell Your Land
Getting as many people as to see your property listing is critical to selling land fast.
Find as many different land listing sites or places you can sell your land.
Here are a few websites where you can list your land:
Sell Buyer Direct – Find a Land Buyer
One of the fastest ways to sell your land is to sell directly to your buyer. If you are comfortable talking to potential buyers, showing your property, and negotiating directly, your best option may be to directly deal with your buyer. Including go-betweens in the transaction will likely slow the process as you’ll have to deal with many backs and forth and additional paperwork and requirements that will slow the sales process.
If you have a motivated buyer who wants to buy your property and has made you an offer that you’re willing to accept, then it makes sense to get the deal done now. One of the critical factors in selling land fast is to take the initiative and push the sale forward whenever possible. Put the terms in writing with a sales contract and get it into escrow ASAP.
Waiting for 3rd parties to go back and forth can take days, and sometimes deals fall, though, because your land buyer finds another piece of land for sale that they like better. If you’re comfortable communicating with potential land buyers on your own, all you’ll need to get started is a basic real estate agreement.
Depending on the property’s price and your experience with real estate transactions, you may need to consult a real estate attorney to make sure you cover all liabilities and potential issues.
You can then find a local title company that can handle the escrow and asks that they set up as quick a closing as possible.
If you’ve priced your property right, you can ask that the buyer wave any contingencies or inspection and ask for a quick closing.
Follow these tips and you’ll be on your way to a faster land sale. Good luck!