Selling land can be a complicated and time-consuming process. It involves working with real estate agents, property appraisers sell my property to Land Boss, and a lot of paperwork.
But you can skip the traditional real estate agent route and sell your vacant New York property directly to Land Boss for a simple, fast and hassle-free experience. Follow these tips to get started.
Know Your Land’s Value
One of the most fundamental aspects of a piece of land’s value is its accessibility. It’s no use to own a beautiful mountain-top retreat if you can’t get there. Make sure your property can be reached legally through roads or easements before you put it on the market.
Other factors also impact a land’s value, including the quality of its soil and existing improvements like fencing or a septic system. If your property has stunning views, water frontage or other unique features that will appeal to buyers, you’ll want to showcase them in your listing.
You can also estimate a land’s value by searching comparable sales in your area. Be sure to use verified comparables that are similar in size, location, zoning and topography. You can search for similar properties online at sites such as Zillow and Realtor.com.
Find Buyers
In contrast to real estate agents, Land Boss eliminates hefty commissions and other fees associated with selling a rural property. Our streamlined process makes it possible to sell your land faster and for a fair price.
Discretion is essential when dealing with buyers who buy land. Serious evasiveness or high-pressure tactics urging immediate deal acceptance should raise red flags. Vetting buyers thoroughly through online reviews, business transparency, documentation and references is wise. Confirming they are established, transparent and honor their promises reduces risk of being ripped off.
Receiving a mail offer from a company that knows your name, property acreage and boundaries may seem alarming at first. But understand they are using legal public records access and big data analysis, not binoculars scouting through property bushes. This is how land buying companies uncover rural properties to make offers. Their integrity and professionalism must precede assessing their proposal details objectively. A good buyer will never ask you to sign a non-certified check or transfer funds into foreign accounts.
Make the Offer
The quickest way to sell land is to directly contact a local land buying company for an all-cash offer. This will eliminate the time and effort required to market the property, field inquiries, vet buyers and handle the transaction details. However, this will likely result in a sale at below market value.
As you negotiate, be transparent about the land’s characteristics and use. Doing so will help build trust and credibility at the negotiating table and make it easier to level the playing field with potential buyers.
Ensure that all critical information is put in writing and signed by the buyer before closing. This will protect you against verbal agreements and opinions that could be misleading after the sale. In addition, be sure to get an earnest money deposit from the buyer in case he or she backs out of the deal for any reason not covered in the contract. This money can be used to cover your costs and losses associated with the property.
Close the Deal
Ensure your sale closes in accordance with the terms of your purchase contract. This will involve a property appraisal, title search, legal closing documents and final inspection. A closing company can help manage and execute the details of your transaction.
Make your paperwork clear and concise, reducing liability and disputes. Use a purchase contract template approved for New York transactions. Include disclosure forms, contingencies and an earnest money deposit amount. Obtain a land survey for your parcel to help buyers visualize property boundaries and features.
FSBO offers the potential to save commissions, but requires time and energy on your part to market the property, field inquiries, vet buyers and handle transaction details. It also requires a high level of marketing and negotiation skills. Consider hiring a land broker to assist with the process. They will have the experience and network to get your property in front of more buyers. They will also be able to negotiate a higher sales price for you.