If you have raw land that’s no longer in your plans or holding onto it isn’t financially beneficial, selling the property could be a smart move. Raw land is an expensive asset to own, especially since you’ll need to pay property taxes each year. If you’re looking to sell land for cash, there are a few Sell land for cash tactics that can help speed up the process.
Price your land wisely
The first step in selling land quickly is setting a competitive price. In order to do this, you’ll want to conduct market research and find out what similar properties are selling for in your area. It’s also important to be realistic and avoid pricing the land too high, which will turn off potential buyers.
Once you’ve set a price, promote the land effectively. List it on all of the major real estate websites and create a listing that includes detailed information about the property. Include photos, maps and even drone footage. This will help buyers get a feel for what the land is like, which can be hard to do with just written information and pictures.
Advertise the benefits of owning the land, such as its location and proximity to local businesses and amenities. This will make the property more attractive to potential buyers, who may be able to use it for their own business or lifestyle purposes. Also, highlight any existing infrastructure, such as utilities or roads, that may be an added benefit.
Be prepared to negotiate when a buyer makes an offer. You might not agree with their price, but it’s important to remember that they have their own reasons for wanting to buy the property. If you’re unable to agree on a price, consider asking them to pay your closing costs or include other contingencies.
Consider owner financing
Seller financing can be a great way to sell your land quickly as it allows the buyer to skip the mortgage process. However, this method isn’t right for everyone, so make sure you carefully weigh the pros and cons before making a decision.
Another option is to sell your land to a land buying company. This type of transaction is often quicker and easier than a traditional sale because you don’t have to deal with a bank, inspections or appraisals. Plus, you’ll save on commission fees.