Raleigh NC Land & Lots For Sale: Selling Your Vacant Land in The Piedmont or Land for Sale in Raleigh
To assume that the process of selling a piece of Raleigh NC Land & Lots For Sale is the same as selling a house is to run the risk of underestimating the needs of prospective buyers and losing out on potential sales. The land market is very unique, with its own challenges and characteristics. A knowledgeable professional, however, who understands and specializes in land transactions will be invaluable in the marketing of your Raleigh-area lot, negotiating the transaction, and successfully closing on the sale of your property. Look here for Raleigh NC Land & Lots For Sale.
For those pondering the sale of any real estate without a realtor, the appeal of potentially saving thousands on commissions is a powerful incentive indeed. Selling a vacant piece of land, in particular, often appears to be a very straightforward, uncomplicated process since there is no actual structure involved on the property to show and to play into the price of the property. However, the market for vacant land – from small individual lots to large tracts of land – is actually a very specialized area of real estate, and there are many nuances in the sale of a lot that are likely to escape an individual who is unfamiliar with the process. Click here for Raleigh Horse properties and farms for sale.
It’s helpful to keep in mind a few key points when considering the sale of a piece of vacant land. Who are your potential buyers, for instance, and what is the best way to reach them? What features of a lot are most important to a prospective buyer? And how do selling techniques differ when you’re talking about a market – for land – that is not as active as traditional real estate?
- Most land buyers are seeking a piece of property in a good location and with the right specifications to develop. Whether the buyer is looking for a small lake lot for a vacation home or a builder interested in developing the land on a much larger scale, they are each looking at the property with an eye to transforming it down the road.
- Selling, and showing, a piece of land is not as emotional a process as is selling a home. Good or bad, your potential buyer doesn’t have that opportunity to walk through a house and develop a feeling about it which will eventually lead them to make a decision. One way in which a seller can encourage potential buyers to visualize themselves as future property owners is with as detailed a property description as possible and great photos showing the lot’s layout, features, and property lines.
- The pricing of a vacant piece of land might be trickier than pricing a home, as well. There may be few comparable pieces of property for sale in the area, for instance. If potential buyers are commercial developers, the selling price might be higher than if the land is a single lot. Location, amenities, accessibility and economic conditions may all, too, affect the sales price.
- Because financing for a vacant lot is often more difficult to obtain than financing for traditional real estate, the option of seller financing is sometimes offered in an effort to motivate potential buyers.
- Marketing techniques differ substantially when the property is vacant land. A large, visible sign, for instance, that lists all the most pertinent facts about the lot is more effective than a simple “For Sale” sign and a phone number. There are no open houses when it comes to a vacant lot, so online sites – including some that are geared specifically to land transactions – may be useful in advertising the property. Neighbors, too, looking to expand their properties are also sometimes excellent prospects, or even great resources in terms of finding potential buyers.
How can a professional help?
Selling a vacant lot requires the specialized assistance of a knowledgeable local agent: a qualified broker such as Legacy Farms and Ranches of North Carolina. With over 50 years of combined team experience in the central North Carolina area, Legacy Farms can competently handle any Raleigh NC Land & Lots For Sale transaction, which includes finding the answers to the following pertinent questions about your property.
- Are there any details about the land that a buyer would want – or legally need – to know about?
- What is the history of the property?
- Does the lot have water access, or hookup for utilities?
- What are property taxes on a vacant piece of land? Might there be any tax breaks associated with the property?
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A broker will also answer questions from potential buyers as to how they intend to use the property. If the lot is going to be used as a recreational piece of land or a lot for a future home, what are the area’s amenities? Is there sufficient shopping and entertainment nearby? What about schools? If a prospective buyer’s plans are to develop the land, what sort of infrastructure is in place? is the property accessible, and is it zoned for development? A good broker, too, will be able to make recommendations as to showing the property in its best light, which may involve property clean-up, grass mowing, or removing any run-down or unused structures. If the property has not recently been surveyed, the broker will organize that, and based on the survey and other factors he will determine the best, and most realistic, selling price.
Most importantly, a good broker knows the market and is the best person available to help you make the most informed decisions throughout the selling and negotiation process.
Contact Legacy Farms and Ranches of Fonville Morsiey Realty to find out more about putting your Raleigh-area lot on the market!
For tips on North Carolina Land Sales, NC Land and Farms for Sale in Central North Carolina, NC Farms and Land for Sale, or Financing for NC Land, please contact the professionals at Legacy Farms and Ranches of North Carolina. Raleigh NC Land & Lots For Sale and Farm homes in Wake county.