If you have vacant land to sell, you are in a great position. Anyone can sell or buy land, but not every piece of land is valuable. Few people have a piece of land that is valuable to someone else. But if you think yours is ready to be sold, then you’ve come to the right place.
In this article, we’ll discuss some key information about selling vacant land. We’ll provide you with some tips on the best ways to market your land and attract land buyers so that you can sell land quickly. Finally, we’ll include a FAQs section for you to gain more knowledge about selling land.
Selling Vacant Land By Owner Versus Selling Vacant Land with a Real Estate Agent
The major difference between selling vacant land yourself versus with an estate or land agent is that doing so privately means avoiding paying large commissions.
For land , this can be more relevant since estate and land agents often ask for higher commission rates if the land hasn’t been developed.
Another important difference is that opting out of hiring a an estate or land agent means that you are the the owner will do all of the work. This includes getting more buyers interested in the piece of land, as well as managing the entire marketing and selling process for the land.
Would engaging an estate or land agent make the entire process easier? Yes, definitely. But like we mentioned, doing it privately or with help is a decision that only the land owner can make.
3 Tips On Selling Vacant Land
There is a huge amount of information that we could share with you about selling land, but we will keep it short and cover 3 of the most valuable pieces of information.
1. Research and Develop a Good Marketing Strategy
Assuming that you’re not planning on doing everything on your own, this step can be very simple. Focus on studying the market and see if your piece of land has the value that a buyer will be attracted to.
If the land has a high value, then you need less focus on your marketing. Buyers may compete against one another to buy the piece of land; it may then be a matter of choosing which one has the best offer.
If the value of the land is low, then your marketing strategy needs to be extremely good. This should be aimed at getting lots of interest, in the hope someone falls in love with it
Properly marketing your vacant land can be valuable. You can also learn from professionals, such as the team at K&G Lettings Limited.
2. Offer Flexible Payment Terms
When you market your piece of land, try to make it known that you are are willing to be flexible about how you receive your money.
The terms of any contract can vary, so long as it adheres to the law. You, as the owner, are free to tailor the sale to make it attractive to the buyer. This gives you the highest chance at gaining more buyers who may be interested to agree a deal with you.
Talk to local specialists land solicitors and conveyancers and consult with them about the different payment options that you can offer. One example is accepting payment over several months or years, rather than a single upfront payment.
3. Hire an Experienced Professional
Selling land has its own unique challenges, but you can decide that these are too much and hire an experienced estate or land agent.
Anyone who has ever hired a professional in any industry knows that doing so makes a world of difference. A good perspective to have is to look at it from the point of view of risk.
If you do it by yourself, you risk making wrong decisions due to inexperience and lack of market knowledge. But that risk is yours alone. With an estate or land agent, the risk is them making the wrong decision. This accountability can be powerful enough to make sure that the estate or land agent does a good job for you.
Frequently Asked Questions
Before you decide to sell your land yourself, be sure to cover these important FAQS first.
What Should I Know About Selling Vacant Land to a Cash Buyer?
As a seller, you’d want to sell your piece of land in full and not in parts or installments. Dealing with payment terms from buyers on land sales can be difficult to understand. Having a prospective buyer pay in cash can not only rid you of those potential problems but also enable you to enjoy the benefits of your fast cash land sale immediately.
However, one important thing you should know about potential buyers who want to pay in cash is that these types of land buyers come in two forms: ‘joe public’ paying in cash and land investors who have the cash on hand to repeatedly buy several pieces of land.
If a prospective buyer comes to you and wants to buy your piece of land for cash, then that buyer demands careful consideration. It can be difficult to find a member of the public who will pay cash, but land investors or developers will often pay for land in cash, and in full.
Selling Your Land To A ‘Joe Public’ Cash Buyer
Let’s assume that all is well, and that there is nothing about the potential ‘joe public’ buyer who wants to pay in cash that should alarm you. What you should now look into is if the likely buyer wants a special payment arrangement?
A common example of this is if they agree only to pay the amount they have offered, on the condition they sell their own property or piece of land. For instance, the cash buyer will propose that you will get cash for the sale of your land to them, but only when they get the cash for the sale of their own piece of land or property.
We don’t need to tell you how potentially stressful and complicated this arrangement can be. So unless you know the buyer yourself, make sure that his or her cash is on hand and that the sale doesn’t end in complex contract arrangements.
Selling Your Land To A Land Investor
Often, online land buyers just advertise your land to an end buyer. At K&G Lettings Limited, we buy your vacant land ourselves. This means we have the cash on hand to complete the sale on the date of your choice.
We’ve created a different process that allows you to sell land fast with no hassles. If you’re looking for a land buyer for your piece of land, we may be a good fit– fill out the form at the bottom of this page, or give us a call 01482 961961, Text ‘SellMyLand’ to 07984388819, email Land@kandglettings.co.uk
Any Tips on How to Market Land?
Marketing is a special subject that deserves its own dedicated section. This doesn’t prevent us from giving some tips, though, so here they are:
- Use technology: Use high-quality cameras, drones, and other visual technology to create photos to better show your land to potential buyers.
- Highlight noteworthy features and facts: Include in your signs or adverts important information, like the total size (in acres) or any special features the land may have, such as utilities are water.
- Open the land for visits: Similar to an open house, allow prospective buyers to visit your land with you or your estate or land agent.
- Maximise the exposure of the land: Get your land posted on as many reputable websites as you can.
- All about pricing: Don’t overprice your land. This is the first thing that potential buyers and can instantly turn-off buyers. Whatever price you set for your vacant land, make sure that it’s justified.
What is the Best Advice To Have About How to Sell Your Land?
Two words: research & hard work.
It’s no secret that to achieve a land sale, you have to know the market. And to do this, you have to do your research.
This is especially true for all land owners. To sell land properly without the help of an estate or land agent, a landowner must be prepared to learn all that he or she can about the local land market and be prepared to put the work in to achieve a sale. This includes knowing the right price for your land , and other essential information for sellers that would attract potential buyers.
Alternatively, we can also argue that getting an estate or land agent can also end up helping you achieve more for the land. Think of it this way: if you pay someone to do the work for you, you’re free to use your time on other things.
Closing Thoughts
If you think about it, selling land can be as fast as one day or as long as several months. If the land property is well-priced and a group of buyers with cash come, you could easily have a land sale within 24 hours, perhaps even in the comfort of your house with an online sale.
If you are trying to sell a piece of land that holds little value, or you aren’t able to find the buyers you’re looking for, don’t worry. As land buyers, K&G Lettings Limited, are here to get land owners out of any situation and can help you sell your land fast!
Then again, you can always get in touch with an estate or land agent and have everything done for you.
If you have more questions about the tips provided here. or how to find cash buyers for your land, don’t hesitate to contact us! We would be happy to answer any questions if you want to give us a call today on 01482 961961, Text ‘SellMyLand’ to 07984388819, email Land@kandglettings.co.uk or complete the form below to get your price and start your sale.
Get a fair all cash offer on your unwanted land by completing the form below. We’re professional land buyers and can make you a no-hassle no-obligation offer on your property. We specialise in buying land all over the United Kingdom, but particularly in Yorkshire and Lincolnshire.
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