Need Help Selling a Vacant Lot? (Why it’s Different from Selling a Home)
“Hello...I'm currently have my vacant lot/property up for sell (for now just using a simple FSBO sign with my phone number on it) and it has been about 6 months now. It's located in an area with a lot of row houses in Washington DC (think of Capitol Hill). I and someone own the land (we have the title for it), and we pay a hefty property tax bill every year. All that we know of the land are the parcel number, date we purchased, size of it, and other basic info.
Now, I'm confused on the process of selling it as an owner (without the real estate agent involvement). If they want to purchase my land, I would need to go to some title company right and set up an escrow based on an agreeable payment plan? Say, I plan to sell the land for $25K, can this be done through all cash payment? If someone wants to pay by installments, how will this work? How would taxes work?”
Selling Vacant Land Fast
If you purchased vacant land in the past or happened to inherit it, you may have got to the point where you are thinking about how to sell based on different circumstances that are taking place in your life. It doesn’t matter what your reasons are for wanting to sell vacant land fast, you have to look at all of your options. These can include looking at how to sell land without a realtor, or how to sell land for cash. Or another option is how to sell land online.
How To Sell Your Own Land in DC
If your decision has been that you are going to look at the details of how to sell your own land, this means that you are thinking about ways to sell land fast without a realtor. There is a lot of hard work that comes with having to sell vacant land fast, and a learning curve as selling a property is not as easy as what one may think. There are going to be a lot of factors that come into play when one wants to sell vacant land fast.
One of the things that you have to take into account is what is the buyer’s market like at the time? There may be a lot of people that are home buying but that doesn’t mean the market is the same for buying land. You also have to be realistic in the price that you are going to set for the vacant land sale. It may have a lot of personal attachments on your part, but these aren’t something that you can factor in when actually setting the price. You are going to have to do your homework and do some market studies so that you are getting an accurate price so you can put it up for sale.
You then have to determine how you are going to present the property to your target market which is your potential buyers. You have a lot of resources available to you, but these can be costly and can also come with some confusion as to which are the best to choose. You have to get the word out about your property and this means that you have to market it through advertising. If you are not familiar with running ads or know what are going to be the best resources, then you can end up spending a lot of time and money needlessly when you try to sell vacant land fast. However, it doesn’t mean that you cannot be a success at how to sell your own land provided that you are prepared to put the time and effort into it that it’s going to take.
Sell Land Without A Realtor
If you are taking on the task of selling your own land then you won’t be using a realtor. You will have to advertise and spread the word about the property as effectively as you can. You can run ads in the paper and in real estate news areas as well as online. What is important is to realize what resources that the realtor has that you do not. If you want to sell vacant land fast, the only way you can do this is by getting as much information out about the land and in the most ideal way. You are going to want to make sure that the land presents well when you have showings. You and going to want to make sure that you are placing signage on the property so you can at least pick up prospective buyers from drive-by traffic. One of the disadvantages about how to sell vacant land fast without a real estate agent is that you don’t have the large database of prospective buyers that they may have access to. This means that you are going to have to utilize a lot more time and effort specifically because you want to sell fast. You also need to know what the legalities are.
Sell Land Online
One of the greatest resources that you have available to you when it comes to being successful at ways to sell vacant land fast is to sell land online. You have the option of actually starting a free website that is property specific to that which you want to sell. You also have many options of being able to advertise in many of the real estate portals as well as other advertising venues that are available online. Again though, you cannot forget that your mandate is to sell vacant land fast and you cannot be guaranteed that these resources are going to be the best way to do this.
Sell Land For Cash
Another option that you may have is to be able to sell land for cash through specialty buyers that focus on buying land for cash rather than going through the standard process of placing a down payment and carrying a mortgage. Some are skeptical about going this route because they feel that they’re not going to get the price that is fair for the property itself. What has to be taken into account is that there are a lot of costs that are created when you want to sell vacant land fast, and often if you go ahead and take the sell land for cash option you are reducing this cost so it basically balances out.
You have some good choices available to help you with your vacant land selling, but because you want to sell fast you really need to know which of these options will work best for you.
We Buy Land Fast!
If you’ve decided not to build on your vacant land, selling it for cash is definitely an option you should consider. Don’t hassle with a realtor. Find out what you can get for your vacant land today. Call us at (202) 826-8179. DC Land Buyers specializes in land buying, and we prioritize closing quickly. If you need your vacant land in DC gone, we would be happy to buy!