You may be familiar with the process of selling a home. Bring in a real estate agent, clean up the house, have photos made, then list the home on the local MLS so that it is available for home buyers searching online. So how does the process differ when you’re selling lots or land instead of a home?One of the most important differences between a home sale and a lot or land sale is the need for accurate zoning records and site maps of the lot or land. Unlike a home, you can’t just put in the street address of acres of land and get the information you need. You or your agent may have to consult land records at the courthouse and you may need to have the land surveyed to ensure accurate and up-to-date records.
Steps to Take to Sell Your Lot or Land
There are a variety of steps you might consider in order to help you sell your lot or land more quickly and for the best possible price. These can include:Ensuring updated site maps are on file with the county or municipality Determining the zoning for your land and applying for an adjustment, if needed Cleaning up the land and providing access, especially if it is overgrown Determining the availability of utilities and other services in order to better market the property Obtaining the services of professionals including a real estate agent or broker who specializes in land sales, a professional photographer, and a surveyor, if needed.
Selling Commercial Property vs. Residential Property
It is important to know whether your land is zoned for commercial or residential use. This can make a huge difference in the way you market the property and the price you can expect to get for it. In some cases, changing demographic patterns in your area may warrant re-zoning of your property. This often happens when land that was formerly rural and zoned for farming or residential use is encroached upon by subdivisions and new businesses in the area.If you are selling a lot within a residential neighborhood, it is important to find out if the rules of the local Homeowners Association (HOA) restrict the size or type of home that can be built. This information would need to be disclosed when selling your residential lot.