5 Tips for Selling Land During COVID-19
June 16, 2020
How To Time The Sale Of Your Land in 3 Easy Steps
July 1, 2020Do you own vacant land you need to sell?
Do you have vacant land for sale? Has the recent economic downturn left you scrambling to find additional cash? Have you inherited vacant land property from a family member and don’t know what to do with it?
These are all great questions, and in this article, we’re going to tell you how to market your vacant land to investors and get the most money when it sells.
Know Why People Invest In Vacant Land
Until the housing crash in 2008, investors were gobbling up properties as quickly as someone could place a “for sale” sign in the yard. You may have seen television shows or magazine articles promising thousands of dollars in profits if you only paid a $99 fee for their “free evaluation” information packet.
These get-rich-quick schemes rarely work and left many investors with broken dreams and houses with upside-down mortgages. Many lost homes to foreclosure or simply walked away.
Investing in land is a long-term commitment. Many investors purchase vacant land to build security for their future or perhaps as a place to build a “dream home” when they are ready for retirement.
The lure for investors is the long-term potential – it’s not uncommon for land investors to look ten years, and even 20 years into the future – when assessing a vacant land purchase.
Now that you know why people invest in land, let’s move on to how you can market your property to investors.
Know What Your Property Has To Offer Land Investors
There are millions of acres of land for sale every day in this country. How do you make your vacant land stand out to investors? Hopefully, no one knows more about your property than you do, so what feature stands out the most? Are you on the coast? Twenty miles away from a major attraction? Are you located in the mountains with a rushing trout stream in your backyard?
Any of these scenarios can apply to you, and the simplest way to market your property to investors is to use the same reason that made you purchase your property. Do you like the view? Did an ancestor want to move out into the country? Are they building a large development in the future? If you were a land investor, why would you buy your vacant land?
When investors are looking for a property, they are also looking at what is available nearby. Is electricity available? Is there a railway nearby? How far is the airport? Is it in a flood plain? Having the answers to these questions when listing your property is essential to presenting your land as a desirable property. It can make a difference when bringing offers to the table.
But what other ways can you get investors to take a look at your vacant land for sale? We’ll cover that in the next section.
Add Value To Your Vacant Land
Wherever your vacant land for sale is located, there are a few steps you can take to add value to your property. Some of the ways to improve the value of your property include:
- Making sure the property is easy to access. Removing dead tree limbs, sweeping away debris, and picking up trash will make your land stand out to an investor.
- Putting in a road if one isn’t already available and having clearly marked property lines
- Another way to add value to your vacant land is to add electricity, which may include a significant upfront cost, but provide a key selling point to investors.
Providing potential buyers with a list of local ordinances and zoning laws can also help in your effort to market your land, especially if it is in a residential or restricted building area.
Ask a Land Specialist For Help
Besides price, knowing what your vacant land has to offer is probably the most crucial factor when it comes to selling vacant land. You’ll need to convey these facts in your listing, and one of the easiest ways to do this is to hire a land specialist to market the property.
A land specialist will investigate your property and help you determine which of the key factors mentioned above are needed to market your land to investors. Selling property of any kind can be challenging, but especially land. Partnering with a land specialist can make the process smoother and get you the most money for your vacant land.
