LBH

☝️ Pricing can determine your success in attracting potential buyers, and pricing your lot or land too high is one of the biggest mistakes that sellers make…and regret. The wrong price will both scare away buyers from even inquiring about your property, and will cause your property to take longer to sell.

❗ Pricing land can be trickier when compared to pricing a home. Developed lots in communities may have a clear “market” price based on the recent sale of similar lots. Raw land, however, may have fewer “comparable” sales to use in determining your price. In addition, the price you ultimately can attract for a singular lot or undeveloped land can vary greatly depending on the buyer’s intended use of the property. For example, if a buyer feels that your acreage is appropriate for a high-end home development it likely will bring a higher price per acre than if a buyer only intends to build a single home on it.

🤑 Consider your own needs when pricing, and understand how pricing could impact buyers’ interest. When selling real estate, you sometimes have to choose between getting the highest price and possibly selling quicker. Plus, your pricing may be influenced if you need to sell for financial reasons. In addition to your own situation, pricing your property ultimately requires an understanding of the land market as a whole, why people are buying lots or land in that area and who these people are.

So if you want to save time and nerves, just contact us and we will buy your land and handle all the bureaucracy for you. 😉

💁 There are a wide variety of reasons to put your vacant land on the market. Whether you inherited it or invested in it, you have a great opportunity to make some good money. That’s why we would like to take a look at the next reason to consider selling your vacant land.

🙅‍♀️ YOU HAVE NO NEED FOR THE LAND
Let’s say that you, like thousands of other people around the country, own vacant land that you’re not using and have no need for. How long are you willing to wait before cashing it in? If you’re planning on leaving the land to an heir in the future, it’s important to make sure they actually want it. Why? People often end up selling land they’ve inherited because it’s either too costly to develop or they don’t want anything to do with it.

🤔 Take, for example, inheriting land that’s located hundreds or thousands of miles away from where you live and work. What do you plan on doing with it aside from sinking your own money into it by paying taxes? While you may have considered moving and settling down on the land, you know in your heart that you never will. This is especially true when you’ve already established a home and family.

😉 When it comes down to it, everyone could use a little extra cash. However, not everyone wants a random piece of land they don’t plan on doing anything with.

❗ The Market for Land is Less Active

The market for existing homes is almost always more vibrant than the land market. There are fewer numbers of buyers for vacant land than consumers looking for homes. 📉

Start marketing a new home listing and a new lot listing when both are desirable and priced well, and you generally can expect fewer contacts about the new lot listing. Patience is Required
Selling a lot or vacant land typically will take longer than a house. You have to be patient.

💵 But if you don't want to wait that long and need money here and now, we can help you. We'll buy your vacant lot quickly and for cash. Just write "selling plot" in the comments now and our manager will contact you. Describe your lot and get an offer to buy!

Step 1 of 8: Understand Who Your Buyer Will Be & What They Need to Know

When selling a home you know your target market typically is a home buyer in a certain price range. But when selling vacant land you must evaluate who your likely buyers will be among many other factors.

Flags used to sell lots and land

Your buyer profile can depend on what type of property you are selling, whether the land has been developed already, its location and market conditions, among other criteria. Is your likely buyer an individual looking for a lot for a new home? Or is your buyer going to be a builder or developer looking for land for their next project? Or is your buyer some combination of those, or someone different altogether? There may be different buyers for finished lots, rural acreage or a parcel of suburban land in a thriving new home market.

After identifying your likely buyers, try to think like them so you can focus your message to convey what they need to know about your property. Have information ready about schools, shopping and other nearby amenities. For developable land you can be prepared with zoning information and insight from local authorities about the location and capacity of water and sewer service. Each property is different, so customize your information for your situation and your targeted buyers.

If you don’t know these details, then do some research. When you are prepared and knowledgeable about your lot or land you can make the process easier for potential buyers and inspire faith with solid answers to their questions.