If you have land you want to sell I’m going to cover the 5 most important details you MUST address before you hang a sign on the place. If you’re a buyer there’s plenty here for you to learn so read on and take note …..
There’s a lot more to selling your land than signing a deal with some broker and hanging a sign. During the process you will be forced to address this list of 5 so my advice is to do it up front and be ready when a prospective buyer shows up.
1) CLEAN IT UP ! : Picture the buyer of your property and how he/she finds out about your place. These days it’s all done online from home or the office etc. So the buyer sees some nice pictures and description of the place and they have to see it asap. They show up and the 1st thing they see is garbage laying around , maybe a junk car or some old equipment. Most people won’t go any farther than the road if they see this. Clean the place up! If there’s an old building on the property make sure you pick up and remove anything that’s laying on the ground. Nothing turns off a buyer like seeing junk laying around. Even if the rest of the place is nice the 1st impression is “this place probably has junk all over it”. Take the time or spend the money but get the place looking clean at the very least.
2) HAVE IT SURVEYED : Yeah this will cost some money up front but you’re going to have to do it before the sale is complete so do it before it’s on the market. I’ve been buying / selling land in NY for years and can’t tell you how many times I sign a deal to buy “100 acres” and find out it’s really 95 acres. If you’re going to offer a parcel for sale you’re going to have to know exactly what you’re selling – as in exactly how many acres and where the property lines are. I could tell stories all day but trust me many people have no idea where their property lines are or how much they really own. Most sellers won’t have a survey done prior to close so if you do it this will set you apart from the rest. Nothing will impress a prospective buyer more than a new survey map and property lines well marked.
3) CHOOSE THE RIGHT BROKER: So how do you do this ? Well the easiest route to go is to call me 1st (800 260 – 2148) because I might be interested in buying your land and this will save you a broker commission. If you’re selling land in New York and are going to list it with a broker there is only one place to go. NY Land Quest is the biggest , most widely recognized land broker in NY period. I do business with them on a regular basis and so do many others. Try listing your land with some local broker who mostly deals in home sales. I’ve bought land through these brokers countless times over the years and can tell you if I wasn’t in the business of doing so I don’t know how it ever would have happened. The local broker will usually email a copy of a tax map showing your lot to some prospect and tell them to go look at it themselves. This is how it’s always been and always will be so save your self the headaches and leave it to the pros.
4) OFFER FINANCING: Advertising “owner financing” will automatically get you more traffic. Assuming, of course , you’re in a position where you can offer to hold some paper for a while. Typically you can make a deal by offering to finance a buyer for 5-10 years and make out pretty well. Your tax liability will be spread out and you can enjoy taking in monthly payments for years to come. Naturally your attorney will have protections in the agreement in case the buyer fails to perform but that doesn’t happen very often. Offer financing and set yourself apart from the rest. Many times a buyer is considering a couple properties and can’t decide which one to buy. Owner financing will make the decision for them so do it if you can.
5) KNOW THE LOCAL ZONING / ENVIRONMENTAL LAWS: These days you can find out what the rules are in a matter of minutes so make sure you do your homework. A buyer may want to split the property in half with family or something so check out the town website and review the local zoning laws and how they pertain to your property. Go a step further and checkout the NYS Department of Environmental Conservation website and look at the wetlands maps. If wetlands are present on your land you want to know beforehand. Wetlands are common and not a big deal but it’s good to know this kind of stuff in case the question comes up. Everything you need to know regarding zoning /environmental laws is a click away so take the time and be prepared.
ok there’s 5 of what I believe to be the most important keys to selling your land . Just a reminder , when it comes to buying and selling land in NY I do it fulltime and am always looking to buy more. If you own land in NY you’re interested in selling please go to my website and send me a message. Thank you for stopping by , I hope it was worth your time. Please share with friends and SIGN UP right here to get all the latest on land for sale in NY . mj