Understanding Your Land’s Potential

Before listing your property, it’s crucial to understand its potential uses and value. This knowledge will help you target the right buyers and set an appropriate price.

 Assess Zoning and Land Use Regulations

Research your property’s zoning classification and any restrictions that may apply. This information is vital for potential buyers, as it determines what they can do with the land[1]. Common zoning categories include:

– Residential
– Commercial
– Agricultural
– Industrial

Knowing your land’s zoning can help you target specific buyer groups, such as developers for commercially zoned land or farmers for agricultural plots.

Evaluate Natural Resources and Features

Take stock of your land’s natural attributes, which can significantly impact its value:

– Water sources (streams, ponds, wells)
– Timber or mineral rights
– Scenic views
– Wildlife habitats
– Soil quality

These features can be strong selling points for different types of buyers, from conservationists to developers[1].

Preparing Your Land for Sale

Just as you would stage a home, you should prepare your land to make the best possible impression on potential buyers.

 Clean and Maintain the Property

A well-maintained piece of land is more attractive to buyers:

– Clear debris and overgrown vegetation
– Mow grass or plant wildflowers for aesthetic appeal
– Ensure access roads are in good condition
– Remove any unwanted structures or equipment[5]

Conduct Surveys and Assessments

Professional surveys and assessments can provide valuable information to potential buyers:

– Property boundary survey
– Topographical survey
-Lot line boundaries

 Having these documents ready can expedite the sale process and instill confidence in buyers.

Creating an Attractive Land Listing

In today’s digital age, your online listing is often the first impression potential buyers will have of your property.

High-Quality Visuals

Invest in professional photography and videography to showcase your land:

– Aerial drone footage to give an overview of the property
– High-resolution photos highlighting key features
– 360-degree panoramic images
– Virtual tours, if applicable.

Compelling Description

Craft a detailed and engaging description of your property:

– Highlight unique features and potential uses
– Include specific details like acreage, zoning, and utilities
– Describe the surrounding area and nearby amenities
– Use descriptive language to help buyers envision the possibilities

Marketing Your Land Effectively

A comprehensive marketing strategy is essential for reaching potential buyers and showcasing your land’s value.

Leverage Online Land Listing Platforms

List your property on multiple online platforms to maximize exposure:

– Real estate websites specializing in land (e.g., LandWatch, LandAndFarm)
– General real estate platforms (e.g., Zillow, Realtor.com)
– Social media platforms (Facebook Marketplace, Instagram)

Utilize Social Media Marketing

Harness the power of social media to reach a wider audience:

– Create a dedicated Facebook page for your property
– Join and post in Facebook groups focused on land buying and selling
– Use targeted ads to reach potential buyers based on interests and location[1]

Traditional Marketing Methods for Selling Land

Don’t overlook traditional marketing techniques:

– Place “For Sale” signs on the property with key information
– Distribute flyers to local businesses and community centers
– Advertise in local newspapers or real estate publications

Targeting the Right Land Buyers

Understanding who your potential buyers are can help you tailor your marketing efforts and negotiations.

Identify Potential Land Buyer Types

Different types of land attract different buyers. Common buyer types include:

– Developers looking for residential or commercial projects
– Individuals seeking to build a custom home
– Farmers or ranchers expanding their operations
– Conservationists or nature enthusiasts
– Investors looking for long-term appreciation

Reach Out to Neighbors

Neighboring property owners may be interested in expanding their land:

– Obtain contact information from county records
– Send personalized letters or emails introducing your property
– Highlight the benefits of owning adjacent land

Providing Essential Information

Be prepared to answer potential buyers’ questions and provide crucial information about your property.

Create an Information Package

Compile a comprehensive information package including:

– Zoning details and allowed property uses
– Annual property taxes
– Utility information (availability and providers)
– Road access details
– Lot lines and property boundaries
– Soil reports and percolation test results (if applicable)
– Historical data on the property

Having this information readily available can help buyers make informed decisions quickly and demonstrate your preparedness as a seller.

Pricing Your Land Competitively

Setting the right price is crucial for attracting buyers and ensuring a timely sale.

 Research Comparable Sales

Look at recent sales of similar properties in your area to get an idea of market value. Consider factors such as:

– Location
– Size
– Zoning
– Accessibility
– Available utilities

Consider Getting a Professional Appraisal

A professional land appraiser can provide an accurate valuation based on current market conditions and your property’s unique features.

 Closing the Deal

Once you’ve attracted potential buyers, you’ll need to navigate the sale process effectively.

Be Prepared for Due Diligence

Buyers will likely want to conduct their own due diligence. Be prepared to provide:

– Title information
– Tax records
– Utility information
– Any known easements or restrictions

Understand Financing Challenges

Financing for vacant land can be more challenging than for developed properties. Be prepared to:

-Work with buyers who may need more time to secure financing
-Consider owner financing options to attract more buyers
– Be flexible with contingencies related to financing

Conclusion

Selling vacant land requires a different approach than selling developed property, but with careful preparation, effective marketing, and a clear understanding of your land’s value and potential, you can successfully navigate the process. By following this guide, you’ll be well-equipped to attract the right buyers and maximize the value of your land investment in 2024.

Remember, patience is often key in land sales. While homes might sell quickly in hot markets, land sales can take longer. Stay persistent, be flexible, and don’t hesitate to adjust your strategy if needed. With the right approach, you’ll find the perfect buyer for your vacant land.

The post The Ultimate Guide to Selling Your Vacant Land in 2024 appeared first on EasyLandSell.

Thinking outside the box is necessary for today’s fluctuating market, especially if you’re trying to sell your land. The land market fluctuates in price along with other real estate markets and depends on many variables, including location, interest rates, property details, and buyer confidence. 

If you own land and have been thinking of selling it or have had difficulty getting any interest from anyone on a property already listed for sale, this article is for you. We will discuss five unconventional and creative ways to help you sell your land for top dollar so that you can get on with other projects. Keep reading to learn more.

Sell Your Land to Neighboring Property Owners

If you’ve been thinking about selling your land but don’t know where to begin trying to sell it, the best place to start is by conversing with your neighbors. Neighbors often have the greatest incentive to buy your property as it can help add space and value to their existing property and keep others from developing a property next door. 

This is especially the case where housing shortages and increasing home prices have increased development. Depending on zoning standards in the area where your property is located, your neighbors may want to avoid industrial or high-density housing from being developed next door to their home or land. 

Despite the motivation to own your land, it might become tricky when negotiating a fair price with a neighboring property owner due to fluctuating prices and discrepancies in what they believe your land is worth. Using local comps and recent sales in your area is the best way to price your property and negotiate a price. 

Trade Your Land for Something Else You Can Sell

As mentioned above, thinking outside the box can sell your land faster. Another creative idea to help you sell your land is trading it for something else you can sell. The first step in this process is getting an approximate value for your property. This can be done by looking through recent sales of comparable properties or getting a certified land appraisal from a real estate agent. This information gives you a better idea of what you can trade your land for. 

You can trade your land for several things; the first thing land is typically traded for is another land property. Other items you can exchange your land for are boats, recreational vehicles, cars, watches, jewelry, or precious metals. 

Of course, the sky’s the limit in this transaction, so don’t be afraid to consider all offers. You can find potential trading partners by using online sites like Craiglist and FacebookMarketplace and placing ads in your local newspaper. 

Rent Your Property on Hipcamp or to Campers 

Another unconventional way to make money off your real estate is renting it out for recreational activities. If your land is near a major attraction, has scenic views, or is on a rushing trout stream, people will pay you money to go camping for the weekend, a week of trout fishing, or maybe relax and enjoy the wildlife. 

One of the first things to do is to provide basic services on your land and make sure it is easy to access by clearing up downed trees and underbrush. Then, you can make a simple campsite with electricity and water, if available, and instructions on how to clean up the property upon leaving.

You can rent your property by yourself, but it may be easier to work with a site specializing in private land rentals like Hipcamp. This company can handle all the paperwork for you, and all you’ll need to do is cash the checks. It’s a great way to make extra income on property that’s not being used.

Host a Live Auction

If you’re not getting any bites on your land listing, a live auction can generate interest and create urgency among buyers. Buyers know at an auction that if they don’t make a decision quickly, then the auctioneer can yell “sold” and they may have missed out on their dream property.

Many communities have local auctioneers, and a simple online search can help you find someone who understands the importance of advertising a land auction and can handle many of the details. For example, you’ll want to set a reserve price for your land to protect your investment in case buyers don’t want to bid higher.

Sell Your Land to a Land Buyer 

If none of these unconditional ways to sell your land appeal to you, then selling your property to a land buyer can be a quick and easy way to sell it. An online search can find potential buyers near you or ask a local realtor if they know anyone buying land. Selling to a land buyer is a quick way to sell your land, but you might get less than you want since land buyers typically offer less than market value. 

If you’re still unsure if you want to sell your land, then consider renting it out for others to enjoy while you make up your mind and the market improves. Working with an auctioneer can also generate interest. However, if you decide to sell your land, have a price in mind before the negotiations begin, and if you’re not in a hurry to sell your land, you may want to hold out longer for a better offer.

Deciding to sell your land is always a challenging decision, and in a tight economic market, it can take time to find the right buyer. However, creatively thinking outside the box can help you build more interest in your land listing, and talking to your neighbors may get the deal done. 

The post 5 Unconventional Ways to Sell Land appeared first on EasyLandSell.

Selling land can be a complicated and time-consuming process. Therefore, it’s essential to research and consult with experts to ensure you are getting the most out of your sale. In this article, we will give you a few tips and tricks on how to prepare your land for sale.

The first step is to research the local real estate market. You’ll need to know what comparable properties are selling for so you can price your land accordingly. The next step is to assess your property. This involves evaluating the condition of the land, any improvements that need to be made, and any zoning restrictions that might apply. Once you have a clear idea of the value of your land, you can start to make necessary improvements and stage your land to attract buyers.

With the right preparation, you can maximize the value of your land sale. Read on to learn more about preparing your land for sale and why doing so can help you get the best possible price.

Research the Local Real Estate Market

It’s essential to do your research before selling your land. Start by researching the local real estate market so you know what other properties are selling for. The easiest way to do this is through online research. Simply type in the address of the land you are selling and filter the results to see the average sales price that other properties have sold for nearby.

Market trends are also important to understand when selling land. For example, you may have difficulty selling your land if buyers have stopped looking for a property because of higher interest rates and a bleak economic outlook.

Using these research techniques, you should get a general idea of your land’s value and price it accordingly.

Assess Your Property

What makes your land stand apart from similar properties? Does it have a scenic view? Is it close to nearby attractions? Are there zoning restrictions that may affect your property? You’ll want to ensure your land complies with local ordinances and regulations before you start the marketing process.

But what are some things you should take into consideration? First, when assessing your land, it’s important to look at the property’s condition, the improvements needed, and any zoning restrictions or regulations that may apply. These factors will help you determine the value of your property. Additionally, if there are any liens or other legal issues, you may want to consult a lawyer before proceeding with the sale.

Make Necessary Improvements

When looking at additional ways to prepare your land for sale, it’s always a good idea to look at ways to make improvements. If you’re unsure about what improvements to make and have a limited budget, you should first make sure the property is cleaned up and free of debris and downed trees. If your land has fences and gates, make sure they are in good working order, and any roads on your property should be in good shape and free of too many potholes and washed-out areas.

If you live in a hot real estate market, then the improvements you make can increase the market price of your property. For example, if potential buyers are looking for larger land lots with driveways and utilities already on site, providing these improvements can move your listing to the top of the list and increase its selling price. While adding certain improvements can be expensive, the return on investment in a hot market should be far greater than the initial cost.

Stage Your Land

You’ll want your land to look the best it can be, so if it looks better in the spring because of blooming flowers and leaves on the trees, that’s the best time of year to list it. Ensure that the grass is mowed, or if it’s agricultural land, the fields are bush hogged, and the fence rows are cleared of brush and other debris.

If the land was used for timber harvesting, replanting trees is another way for buyers to see the potential in your land. It’s important to create an inviting and well-maintained space that buyers can see themselves owning. Plus, if you have any special features on your property, like a pond or scenic view, highlight these points of interest with a bench or something similar so buyers can stop and enjoy the views.

Hire a Real Estate Agent

To ensure maximum exposure for your land listing, hiring a reputable real estate agent specializing in land sales is a good idea. They will have the experience and contacts necessary to help you find interested buyers. Preparing your land for sale requires research, assessment, and marketing. Having the right information before you start the process can save you both time and money and maximize the value of your land sale.

Do your research, consider all factors, and use a professional to ensure you get the most out of your sale. Then, with careful preparation, you can make the most of your sale and get the price you want.

The post Preparing Your Land For Sale – Tips For Selling Land appeared first on EasyLandSell.

Everyone wants to have a place they call home, and buying or selling a piece of property is one of the ways to find your dream home. But owning property is more than just having a typical three-bedroom, two-bath home with an attached in-law suite. Some real estate owners own land that is vacant without any improvements.

When it’s time to sell your land, you’ll need to do more than stick a “for sale” sign in the ground if you want to get the highest price. Here, we’ll look at factors that affect land value and suggest ways to improve your property so you can get the best possible price.

Understanding the Land Market 

One of the toughest questions landowners ask when considering whether to put a property up for sale is, “What’s it worth?” Valuing real estate with an existing building is pretty straightforward–valuation is determined by the income it produces or by looking at comparables in the area which have recently sold.

Market trends and factors affecting the value of land

Stock markets, inflation, and high employment can significantly impact the value of everything, including land. During the recent pandemic, where and how people live and work changed dramatically. Many were allowed to work from home, and commute times and distance no longer factored into workers’ geographic locations. As a result, land in once stagnant markets was purchased and, combined with historically low-interest rates, made prices soar.

Other factors, including location, zoning requirements, and local demand, affect the value of land, and we’ll explore them below.

• Location and accessibility – If you’re hoping to sell your land for maximum profit, your location will probably be the most significant factor if buyers choose to walk away. If folks are looking for oceanfront property but you’re 45 miles inland, it might take longer to find the right buyer. It’s the same for accessibility–meaning land that is difficult to reach, whether it’s miles outside the city or requires a four-wheel drive to get up the driveway, can be difficult to sell.
• Zoning and land use regulations – Local governments usually dictate zoning requirements and have a say regarding how your property can be used. Specifically, if you own land in residential areas and want to create an amusement park, government zoning boards will decide whether or not to issue the permit to proceed with construction.
• Demand for land type (residential, commercial, agricultural, etc.) – Single-family home construction continues to dominate the market, but multi-family properties are on the rise in many markets. Additionally, commercial properties remain hot as developers continue to meet the demands of a growing population looking for more restaurants and entertainment venues.

Researching the local land market

Another way to maximize the value of your property is by comparing prices of recently sold properties, otherwise known as comps. You can use several methods, including the “go it alone” approach, where you use online resources to perform market analysis or consult with local real estate agents, land appraisers, or land buyers who can give you a better feel for what the land market is currently doing.

Maximizing the Value of Your Property

Once you’ve researched zoning regulations and analyzed the local market, it’s time to highlight the finer points of your land and make it as desirable to potential buyers as possible. What is your property’s biggest selling point? Why would potential buyers choose your land over similar properties? Let’s highlight some of the answers to these questions in the sections below.

Improving the land’s physical appearance 

Making your property look its best not only makes sense when you’re attempting to sell it but also as a way of preventing accidents and wildfires. Depending on your location, clearing debris such as downed trees and underbrush can prevent wildfires from spreading to structures on your property.

Additionally, making necessary repairs to fences and roads will let potential buyers know they will have one less thing to worry about and could decide whether they choose to make an offer. Finally, if your land doesn’t have fences or other landscaping features, adding a fence row or even a pond can add thousands of dollars to the value of your property.

Marketing the property effectively 

The first line in your land listing should highlight your land’s unique features and benefits. What makes it extraordinary compared to nearby listings? Why did you buy it? Answering these questions goes a long way to ensure you get the most money for your land.

There are many ways to sell your property in today’s market. Utilizing multiple channels for marketing, such as online listings, open houses, and selling brochures left on-site, can reach more buyers and get the property sold quickly.

Our Final Thoughts

Selling your land can be challenging in a tough economic market. You’ll need to understand market trends, how to negotiate with buyers, and improve the appearance of the land to get top dollar. Working with a trusted advisor specializing in the land market is an intelligent way to ensure the price you receive for your land is fair and makes sense financially.

The post Understanding the Land Market – How to Maximize Land Values appeared first on EasyLandSell.

The recent pandemic has shown that location doesn’t matter as much as it used to. Many workers now have the flexibility to work remotely from anywhere there is an internet connection. Now, more than ever, workers can look for available home options never before possible because of affordability and commuting distance.

This new reality allows people to now have the freedom to live where they want and no longer worry about the daily commute. For many, this includes the option of moving away from urban areas filled with smog and congestion and back to small towns where life moves at a slower pace. Families are looking for good schools in quiet neighborhoods and with many occupations seeing increased wages, building a home and living the American dream is entirely possible.

If you’ve considered selling your land but weren’t sure of the timing, the reasons mentioned above and the ones we’ll mention below will show you why there’s no time like the present.

Here are five reasons to sell your land now and take advantage of a fantastic real estate market.

How Strong is the Real Estate Market?

The demand for real estate will stay strong nationally as the country continues to recover from the pandemic. Many workers who lost their jobs or were forced to close businesses can now seek opportunities elsewhere. Across the country, rental prices continue to rise and in many communities, not only is it challenging to find an affordable apartment or home to rent, it’s almost impossible to find anything to rent as many towns suffer from housing shortages.

As the shift continues away from urban areas and into rural settings, buyers are looking for ways to have a home while having a smaller carbon footprint. In addition, the price of lumber and the scarcity of other essential building supplies have shifted the way many think about the home-buying process.

The great thing about owning vacant land is the opportunity to do what you want with it, or at least what’s allowed by local ordinances. With rental prices so high, tiny homes, recreational vehicles, and other manufactured structures are now a viable option. With the purchase of a small plot of land buyers can have the foundation to live the life they desire while still being connected to the outside world.

Have Your Plans Changed?

Did you purchase property with the intent to build a retirement home or to use it for recreational purposes, and your plans have changed due to economic hardship or other personal reasons? While some try to plan out every aspect of their future, life sometimes takes a turn and heads in a totally different direction. If your life plans have changed and you find yourself no longer needing the land you inherited or purchased, choosing to sell it can bring a much-needed financial benefit.

Are the Taxes or Dues Too High?

As the nation faces record consumer prices and inflation, many local towns and communities struggle to keep up by raising taxes. In addition, as the shift continues to work from home, many heavily taxed states like California and New York are losing residents as they relocate to states with better tax rates.

Another reason why now might be a good time to sell your land is that the HOA fees or membership dues required to own property in certain developments have gone up or are just unreasonable.

If you bought your land at a low price and it has increased significantly in value, you could save money on your taxes by selling it now. The capital gains tax is a tax on the profit made from a non-inventory asset. In simpler terms, the difference between the purchase price and the selling price of your land is considered profit, and you’ll have to pay taxes on it in most cases. Alternatively, if you overpaid for your property and ended up selling it for a loss, you can use that capital loss to offset any capital gains.

Although selling at a lower price might not make sense, the tax benefits outweigh the lower selling price to some with complicated investment portfolios. Of course, consulting with a tax professional is the best way to know if this applies to your situation or not.

Mortgage Rates are the Lowest in History

If you have a good credit score, then applying for a mortgage right now is the first step in the home-buying process. With a vacant land purchase, you have the opportunity to design and build your home while paying thousands less in interest than those who pursued the same dream in the early 2000s.

Before the housing bubble burst in 2008, the average annual percentage rate for a 30-year fixed mortgage rate was above six percent. By comparison, the same 30-year fixed mortgage rate in today’s market is less than 3.5 percent. Over the life of the loan, this equates to paying over $145,000 more in interest on a $250,000 mortgage.

While mortgage rates are generally higher for land-only purchases, they are still lower than previous years. To qualify for a loan on vacant real estate, buyers will typically have to have a larger down payment. Mortgage companies will consider your intentions with the property–whether for recreational purposes or to build a home–and will often base your rate on that.

As a seller, one option to keep in mind is owner-financing with a land contract. If you have found it challenging to attract the right buyers, owner-financing can be an attractive selling point and increases the odds of selling your land quickly.

Low Inventory

Vacant land is a limited commodity. There’s only so much of it, and it doesn’t matter if you’re looking to buy or sell because today’s favorable economic climate is good for business. Low-interest rates mean new homebuyers can build their dream home with affordable terms, and landowners looking to sell can get record prices for the land they no longer want or need.

The post 5 Reasons To Sell Your Land Now appeared first on EasyLandSell.

Vacant Land Valuation

How much is my land worth? Do you want to find your land’s market value in your area? Finding out the market value of raw or vacant land can be challenging in a fluctuating market. There are so many factors at play when estimating land values that often, landowners can overprice their properties resulting in more time on the market.

The tips in our guide can help you price your raw or vacant land effectively and bring buyers including developers and investors to the table, allowing you to sell your land quickly. Read on to learn more.

Comparable Land Sales

How to find the cost of my land? How to find the land value of a property? One of the easiest ways to estimate the market value of your land is by looking at comparable sales in your area. Using online search engines can usually provide a rough idea of past land sales in your area and how long listings have been on the market. Or, if you’re not having much luck finding recent sales comparable to your listing, then speaking with an experienced real estate agent who specializes in the vacant land appraisal values can often prove beneficial.

Exploring Sources for Land Valuation Comparisons

If performing a general online search isn’t getting the results you expected, you may need to research specific sites. There are many real estate websites, but two of the most popular land value search sites are listed below.

Landwatch

If the property you are trying to value is situated in a rural setting, this site will probably bring the best results. Landwatch is best known for providing listings for vacant land, farms, ranches, and mountain property.

Zillow

This site offers everything a potential buyer or seller could need when it comes to real estate. From current property listings to mortgage lenders to recent sales, Zillow has a lot of information available to consumers.

Both sites offer land value search parameters by ZIP code, state, county, and acreage, meaning you can get recent sales specific to your area. As with any search, findings will show recent sales and estimated values of current listings. Ultimately, the value of anything is determined by the agreed-upon price between buyer and seller.

What Factors Change Raw Or Vacant Land Values?

How to determine the land value of a property in your area? Suppose you’re considering listing your land for sale and have a general idea about its value from searching comparable listings. In that case, there are other things to consider which could increase the estimate. Read on to learn more about why your land may be worth more than you thought.

Acreage

According to the U.S. Census Bureau, the average size of a lot for a residential home is around 8,892 square feet or roughly one-fifth of an acre. Therefore, if the land you are selling is several acres or larger, the potential for selling it at a higher price is significantly increased. Not only are buyers looking for larger lots to build new homes, but if the property is big enough, developers and investors might be interested in building new subdivisions or for commercial development.

But it’s not just buyers looking to build a new home that might be interested in your land. Some dream of living out in the country or owning a farm, and if your land meets these requirements, it can increase the amount buyers are willing to pay.

Utilities

Some of the features that many land buyers look for are listings that have access to utilities already on-site or are available nearby. A lot depends on what potential buyers intend to do with the property they purchase and which utilities they prefer. For example, buyers looking to build a new home may pay more for a listing that already has access to electricity and water.

Conversely, buyers looking for land for recreational purposes such as hunting and fishing might not need any utilities, except perhaps, a road to access the property, thus saving you money by not making unneeded improvements.

Topography/Usable Space

If your land is in a desirable location, such as close to the beach or near a famous attraction, chances are your listing will sell quickly if it’s priced correctly. If your land doesn’t fall into this category, then the next step is to highlight any special features or usable space.

Does it have a view? Is there room for the kids and dogs to run? Any natural habitats or wildlife nearby? These characteristics are great to include in your listing and are what buyers are looking for. Plus, they can also add thousands of dollars to the value of your land.

Road Access

Can buyers get to your land easily? Does it have road frontage and a driveway already in place? If so, this can increase the value of your land by thousands. There are many factors to consider when estimating costs for a driveway, such as the type of material used, the length of the drive, and the professional crew performing the work. Sometimes, a load of gravel is all it takes to make a parking area on unimproved land and make it more desirable to interested buyers.

 Surrounding Area

As the saying goes: Location is everything, and that’s especially true when buying and selling real estate. But, again, the appeal of your land will vary greatly, and some who are interested in oceanfront living won’t be as interested in a listing with five acres and room for a pool. The key to selling any property is pricing it at fair market value and finding the right land buyers, developers, or invcstors.

Land Property Use

As we mentioned previously, the value of your land depends a lot on its intended use. For example, if the land is suitable for recreational purposes, buyers might not pay as much for it as land close to a major attraction or a prime building location.

Hiring a Real Estate Appraiser For Land Valuation

If you’ve done the research and spoken with agents and are still finding it difficult to estimate the value of raw or vacant land in your area, then it might be time to hire a real estate appraiser. Not all land appraisers are created equal, though, and you should make sure they are knowledgeable about vacant land appraisal and not just appraising homes.

A smart idea is to ask for their license number and speak with the real estate governing board in your state to make sure they are legitimate with an active appraiser’s license.

By using the tips mentioned above, estimating the value of your raw or vacant land can be a simple process.

Do your research on where to find the land value of your property, set your price, and let the land buyers come to you.

The post What is My Land Worth? How to Estimate Land Valuation appeared first on EasyLandSell.

Do we need to pay tax for selling land? Whether it is for business or personal use, owning property is a dream of many across the country. However, depending on the circumstances, landowners may find they no longer have use for their land or may wish to sell land and buy something else. Whatever reason you decide to sell your land, there might be tax consequences when it comes time to file your yearly return.

This article takes a look at the different taxes involved when selling land. Of course, this isn’t an exhaustive list, and sellers should consult with a tax professional to find which options work best for them.

Let’s get started.

Federal Capital Gains Tax on Land Sales 

According to BankRate.com, a capital asset is an item you own for business or personal purposes, such as a car, a home, a baseball collection, or vacant land. When you sell a capital asset, you incur a capital gain, or a capital loss, depending on the price paid and the price sold. Capital gains have a special tax rate, and capital losses can often reduce the tax owed.

What does this mean for you as a seller? Many scenarios apply to capital gains or losses, such as the length of time owned, whether the asset was a gift and your unique tax situation. Briefly, capital gains are classified as long-term, meaning the asset is owned longer than a year, and short-term, which is held for less than a year.

The tax code has undergone significant changes in recent years and may well do so again under a new administration. Also, depending on where you live or where the land you sell is located, you could be liable for state capital gains taxes as well.

Let’s move on and look at other taxes involved when selling land.

Net Investment Income Tax

The net investment income tax (NIIT), often called the Medicare Surtax, is based on your overall income and can add up to 3.8 percent on your capital gains from real estate. Single taxpayers making up to $200,000 annually are immune to this tax, while married couples filing jointly can make up to $250,000.

To further explain the NIIT, a simple land transaction breakdown is as follows: Landowner sells a parcel of land for $75,000. To find out the net investment income tax, multiply the sales price of $75,000 by 3.8 percent, and you get $285. This isn’t a large amount but could certainly increase on higher-priced land transactions.

Section 121 Personal Residence Exclusion

If the parcel of land you are selling is also your primary residence, you may be able to deduct up to $250,000 for single and up to $500,000 for married couples of capital gains. Residency restrictions apply, and you must have lived in the house for two out of the last five years to receive this benefit.

Section 1031 Tax-Deferred Exchange

This tax benefit is ideal for those that want to use the proceeds of one transaction to buy another piece of real estate. The requirements are that the new purchase must be of equal or greater value, and you can defer the capital gains on the first transaction until the subsequent purchase is sold.

The logic behind this rule is that you are reinvesting any gains and are not changing your overall wealth. One thing to consider is even if you keeping selling and reinvesting in real estate; eventually, the tax will have to be paid.

Section 664 Charitable Remainder Trust

Another way to save on capital gains made from a real estate transaction is to place the proceeds from the sale in a charitable remainder trust. A charitable remainder trust is an irrevocable trust designed to reduce the tax burden of land sellers by paying beneficiaries of the trust for a specified period and then donating the remaining monies to a specified charity.

The benefits of a charitable remainder trust are that the trust can provide regular income for a specified time while allowing for philanthropic pursuits at the same time.

Selling Land Taxes

As with any of these tax strategies, some or none of them may apply to your situation. To find out which of these might work best for you, consult with a tax professional who specializes in land ownership.

We Buy Land

Do you have raw or vacant land for sale? Contact us and get a quick offer!

The post Taxes Involved When Selling Land appeared first on EasyLandSell.

Do you own a parcel of land that you are considering selling? Maybe your interest is the opposite, and you want to purchase a large tract of land? Whatever the reason, one thing to keep in mind is that not all real estate agents have the skills and know-how to get you the best deal when buying or selling.

Let’s look at the reasons why real estate agents that specialize in residential sales transactions might not be the best fit when it comes to vacant land transactions.

Home Buyers are Different from Vacant Land Buyers

For individuals and families looking to settle into a traditional 3/2 home on a corner lot, finding and working with an experienced real estate professional is usually a simple thing.

A single drive down any road can reveal potential agents and the properties they represent. However, it might not present a clear picture of whether a real estate agent is adequately informed about how to market land properties specifically.

Homebuyers are different from vacant land buyers because they aren’t especially interested in starting with a blank canvas. Of course, they might be agreeable to updating appliances, new paint schemes, and new flooring, but they’re primarily looking for new construction in subdivisions or homes in already established neighborhoods.

Residential home agents have a lot to work with when presenting those properties over vacant land. A vacant land buyer is different because there’s a good chance that they want to do more with their property than live in or build a home. If a real estate agent doesn’t know how to present a listing without using the attributes of a dwelling as the primary focal point, then you, as a client, might become frustrated when it fails to sell in a timely manner.

Selling Land is Different from Selling Houses

Other than the obvious fact of why vacant land is different from land with houses on them, why should you care whether an agent is knowledgeable about land transactions or not?

If your goal is to build a new home from the ground up, then there are many specific details that must be covered before breaking ground on the project. Where will your driveway go? Are there utilities onsite? Does the land perc?

If you’re new to the real estate game and are unsure about any of these and other similar questions, then a traditional residential real estate agent might not know the answers. Someone experienced with selling land can quickly answer these questions or direct you to someone who can provide the solution.

And to answer the above question: A perc test is a soil evaluation test that tests how fast water drains through the soil and whether the selected area is suitable for a septic system and to build on.

The Vacant Land Market is Less Active

You’ll find residential home listings for sale probably every time you leave your house, whether going to work or going to the grocery store. These listings are usually advertised by bright, colorful signs that promote the property and the company that holds the listing.

That’s not necessarily the case when it comes to vacant land. The vacant land market is less active than the residential home market because, frankly, there is a finite amount of vacant land.

Selling Vacant Land to Buyers

For undeveloped land, the pitch is more about the possibilities and opportunities when marketing to interested buyers. If a residential agent only knows the benefits of having a half bath downstairs for visitors and not a half acre with a garden spot, then you might be wasting your time.

A professional specializing in selling land often has access to a national database that lists only available land properties for sale. In comparison, residential agents might only have access to properties with homes already on them.

Suppose it’s your dream to own a mountaintop retreat for recreational purposes such as hunting and fishing or to own a small farm out in the country. In that case, the first step in pursuing that dream should be finding a reputable company specializing in vacant land to make the whole process go smoother.

The post Why Some Real Estate Agents Struggle To Sell Land appeared first on EasyLandSell.

This past year has turned everything considered normal upside down, it’s not surprising that the real estate market is as volatile as ever. Even under normal circumstances, whether you are buying or selling, finding potential clients ready, willing, and able to sit down at the closing table remains a tough sell.

In this guide, we’re going to show you 10 ways to market your land in 2020 to get past the distractions and attract buyers ready to make a deal.

Let’s get started!

1. It All Starts With a Good Land Listing

Anyone can write a real estate listing. But to make your land listing stand out in the crowd, you’ll need to create content that’s unique and highlights the best features of the property. Does it have a great view? Are utilities close by? Is it in a rural setting? Any major attractions in the area? What do the locals say?

Whatever is unique about your land is what you want to feature in your listing.

2. Check Out The Competition

Has your listing gone stale after an initial flurry of interest? If so, maybe you should out what the competition is doing. If you’re selling your land without the benefit of using a real estate professional, a simple online search can reveal recently sold properties in your area.

You can also check out the websites of top companies and agents in your area. Running ads is expensive so the more you are seeing their ads, the more success they likely have.

3. Leverage Your Social Media Accounts 

If you’re not utilizing social media when trying to market your land in 2020, you might be missing out on a sure thing. A recent news report revealed that more folks than ever receive their news via social media platforms such as Facebook, Instagram, and Twitter.

4. Purchase Social Ads

Sponsored content on social media…i.e…Facebook ads use the network’s algorithms to reach targeted buyers based on their online searches. Ever do an online search and wonder why any site you surf to will bring up similar ad content for several weeks?

5. Hire A Professional Photographer

If snapping pics isn’t your forte, then hiring a professional photographer might be what sets your listing apart from the crowd. Bad lighting might make your distant lake view look like a shimmering city or desert view, confusing many potential buyers.

6. Create A Virtual Tour

If your land listing is off the beaten path, consider creating a virtual tour of the land whether you’re doing the photos yourself or asking your photographer to create one for you. More than ever, people watch video content to get their news, watch cat videos, and so much more.

7. Take To The Skies

While the idea of using a drone to create an aerial view of our land listing might not be a chore you’re ready to tackle, there is probably someone in your area who will. Furthermore, many professional photographers use drones, and if they don’t, they should be able to provide a referral.

Aerial views are especially helpful for relatively flat land, so buyers can get a clear picture of how the land lies.

8. Make Your Land Listings 

With smartphones being utilized more and more, it makes sense to ensure your site is mobile-friendly. If web design is challenging for you, consider having a professional update your site, or if funds are an issue, online research can provide answers to many common programming questions.

9. Take Out A Newspaper Ad

Although the Internet has taken over many of the ways we do things, newspapers continue to be a valuable resource for buyers and sellers. Most newspapers have an online presence, in addition to print, and the online version can potentially reach an unlimited supply of interested and motivated buyers.

10. Keep In Touch With Past Buyers

Building relationships with customers is often the difference that keeps businesses open. Whether it’s a grocery store or a car dealership, customers remember how they were treated. It goes the same with your network of friends–being courteous and friendly go a long way during such turbulent times.

Reach out to your network of friends. They might not be in the market to purchase land, but there’s always a chance they know of someone searching for their dream property.

The post 10 Ways to Market Land in 2021 appeared first on EasyLandSell.

Selling land fast can be a challenge. Sales cycles for land sales are typically longer than homes or other types of real estate. Marketing and selling land fast can be a challenge, especially for a first-time land seller.

Here are some tips on how to sell land fast!

Price it right

People are always looking for a deal and pricing your slightly below market value is one way to attract the attention of motivated land buyers.

If you want to sell land fast, price is often the most significant factor. Discounted properties tend to sell much faster than those priced at or above market value, especially in a market where there is a lot of inventory.

Check out local listings, see what comparable properties are selling, and try and price your property competitively. If you’re motivated to sell your land fast and the price is not the biggest issue. Consider offering a price that is too good to pass up.

Price is king, so pricing your property right is one of the first steps to selling your land.

Have Your Land Information Ready

Research the property thoroughly before creating a listing, and make sure you have all the necessary property information included in your land presentation. Informed land buyers are more likely to make a decision, and having all the information available to your buyer will allow them to move forward with a sale faster. Make sure and provide any information you’re land buyer will need and make it readily available.

Having pertinent property information accessible to your buyer makes selling your land fast possible because it eliminates the buyer having to spend valuable time collecting the information on their own.

Increase your Exposure – Find Multiple Listing Sites to Sell Your Land

Getting as many people as to see your property listing is critical to selling land fast.

Find as many different land listing sites or places you can sell your land.

Here are a few websites where you can list your land:

• Landwatch
• Land and Farm
• Lands of America
• Craigslist.com
• Backpage.com
• Facebook Marketplace

Sell Buyer Direct – Find a Land Buyer

One of the fastest ways to sell your land is to sell directly to your buyer. If you are comfortable talking to potential buyers, showing your property, and negotiating directly, your best option may be to directly deal with your buyer. Including go-betweens in the transaction will likely slow the process as you’ll have to deal with many backs and forth and additional paperwork and requirements that will slow the sales process.

If you have a motivated buyer who wants to buy your property and has made you an offer that you’re willing to accept, then it makes sense to get the deal done now. One of the critical factors in selling land fast is to take the initiative and push the sale forward whenever possible. Put the terms in writing with a sales contract and get it into escrow ASAP.

Waiting for 3rd parties to go back and forth can take days, and sometimes deals fall, though, because your land buyer finds another piece of land for sale that they like better. If you’re comfortable communicating with potential land buyers on your own, all you’ll need to get started is a basic real estate agreement.

Depending on the property’s price and your experience with real estate transactions, you may need to consult a real estate attorney to make sure you cover all liabilities and potential issues.

You can then find a local title company that can handle the escrow and asks that they set up as quick a closing as possible.

If you’ve priced your property right, you can ask that the buyer wave any contingencies or inspection and ask for a quick closing.

Follow these tips and you’ll be on your way to a faster land sale. Good luck! 

The post Tips to Sell Land Fast appeared first on EasyLandSell.