Selling vacant land is a very different process from selling a home! Without doorways to walk through, rooms to inspect, and furniture to make a buyer feel at home, you don’t have any of the vision that having an existing home has to offer. Instead, you have to set a hypothetical environment for a buyer, and quickly set their minds at ease to all of the risks that vacant land inherently has to offer.
In this article we are going to go over some items that I recommend you think about before, and during the sale of your land! This will range from gathering internet possibilities, all the way to labeling a possible building spot for the home of the buyers dreams.
1. Setting up the vision
Because you don’t have a physical home to show off to possible buyers, setting a vision for someone living on your property becomes quite a bit more difficult (not impossible though).
The best way to do this, is to include a couple different home plans that would work well on the property! Do you have 5 or more acres, maybe present a larger home plan as well as a smaller home plan to appeal to multiple buyers. If you have a smaller lot, then include a smaller home plan with renderings of some great ways to landscape the property.
3D renderings are going to help you the most, as it can really help build that vision that you are hoping to achieve.
The home is where a buyer will live most of their life, and helping them imagine that possibilities that this vacant land has to offer is the most important thing you can do.
2. Cleaning the property
A mistake that many people make is to sell vacant land as-is. This generally means brush, fallen trees, standing dead trees and more.
Each of these things tends to make it more difficult for buyers to be able to imagine themselves living on this property, and gives them another reason to not want to place an offer.
I also like to see pathways through properties, especially if it is wooded acreage. This allows for a buyer to be able to roam the property without wading through tall grass to do that.
Think about it: What is the likelihood you would put an offer in on a house that has so much stuff in the hallways that you have to step over things every step? That is what it is like on vacant land if it isn’t clean.
3. Emphasize unique features of the property
As you are cleaning the property up, think about different portions of your property that might make you unique, then make sure to feature that not only by cleaning the property, but also making sure it is mentioned in any advertising.
Some great features include running water or ponds, fruit trees, rock outcroppings, water views, animal life, clearings, mountain views, and more.
4. Mark boundary lines
Vacant land buyers tend to enjoy getting to walk the property line much more so than physical home buyers. They like to see how far the land stretches, so that they can fully think through where they might be able to build.
Because of this, I highly recommend putting stakes every 20 yards or so along the boundary of the property. This allows buyers to be able to easily walk the property and not have to question if they are still on the land that they are looking to buy.
The last thing you want, is for a buyer to find a spot they want to build, put an offer in, and then find out that part of the land is either not far enough onto their property to build, or not on the property at all.
5. Find a possible building spot
After you have gotten your property all cleaned, marked and more, I highly recommend finding a place on the property that you personally think would make the best place to put a home.
Then market out a rectangle the size of a home with orange stakes to show a great way to position the home in the way you imaging.
Of course, the buyer may want the home in a completely different place on the property, or even at a different angle, however you have once again given them a place to start, and helped them better imagine what it would be like to live on your property.
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About the Author: Austin Kern is a Real Estate Agent in Sandpoint, Idaho with RE/MAX in Action. If you are looking to buy or sell your home or property, give him a call at (208) 920-9313 or email him at firstname.lastname@example.org.
Not in North Idaho? Austin would also be happy to refer you to a specialist in your area.
6. Gather important information
Alright, you have set the vision for a buyer! However now that they can see themselves on your property, the reality sets in. Many vacant land properties don’t currently have important aspects of a home that are needed, and also expensive. Setting their minds at ease quickly, before they second guess themselves is important.
Let’s dig into those aspects, so you can address them before, and not after the buyer arrives.
Rural areas like Northern Idaho mean that most vacant land doesn’t already have a set and definitive internet source like you would see in the city. Some properties may never get internet, and that can be a deal breaker for many, if not most people.
Before you list your property, do some research and find 2 to 3 options for internet that should work on your property. That can range from hard line internet, cell service providers, or even line-of-of site internet.
If you live in the Sandpoint, Idaho area, this article right here should give you a good start!
Every buyer has to make sure, that if they are going to build a home, that they can get water! This is one of the top questions my clients ask me on a property.
Because of this, you want to make sure you can do everything you can do to set their minds at ease. This could range from having an actual well installed, to putting together a list of neighbors that have installed wells, and at what depth they were able to get water.
If your vacant land uses city water, make sure that is mentioned, as that is definitely a selling point for many people, due to its ease of access.
Everyone (nowadays anyways) has to have electricity to their home, so doing your homework so that buyers won’t have to is important.
If electricity is just to the property line, I would mark where that is.
If electricity is already installed onto the property itself, make sure to clean out around the boxes and mark it to easily be seen.
If your property is extremely far away from anywhere that has electricity, I would highly recommend putting together a list of ideas on how electricity can be put on the property.
This could range from a short list of ideas, to bids from contractors to install solar, or even hydro power to the property.
While not quite as risky of a situation for buyers as the above, it is always important to put buyers minds at ease with septic systems. Doing any possible tests to assure a septic system can be installed will set you apart from the competition and get you the best price possible.
If you live up north like we do here in North Idaho and more specifically Sandpoint, snow removal can be a big deal. If you have snow removal agreements with neighbors, make sure to mention that. If you live on a maintained road by either the city or county, that should be mentioned as well.
Finally, if you have to maintain your own road, that can be important to detail how you do it, and what the easiest way to do this would be. Again, helping buyers imagine this being an easy process is important to selling your land.
I hope this article helped you on your way to selling your property quickly, and for the best price! Ultimately, your goal is to give your buyers the dream of living on your property. Your competition likely will be doing this, so why not you?