So, you want to sell your piece of land for the most money and at the soonest time. That’s an admiral goal and while the inventory is low in the housing market, it is quite the opposite in the land market.
Land is plentiful right now and because of that, it tends to sit for 6 months – 1 year to sell. Having all the right things in place can help it be a smooth transition.
Make Sure Deed is Clear
Yes, this is something that happens often and it can tie things up in escrow if that is not the case. If you owe the seller money, take care of that now so that a Deed of Reconveyance can be issued at or prior to closing. The other option is to take the funds out of the sale at closing. Are there any tax liens? Another thing is to make sure that no one else is on the title that could prevent you from selling the property.
Provide Accurate Information to Agent
This happens a lot where the seller says that it’s buildable or that it has access to city water and sewer, but when the agent or buyer find out that it doesn’t, the property may not be as saleable. Full disclosure is best so that the agent and buyer know what to expect. Provide as much information as you can. If there is no city water provided, can the buyer put in a well? Can they put a septic tank above ground or underground if access to city sewer is inaccessible? Is there power available? Are there any easements associated with the property and if so, who has them and where are they? Does it have riparian rights (stream, canal, or river)? Does is it have littoral rights (lake)? A good agent will do their homework and be prepared for these questions by verifying the information given by the seller.
Remove Personal Property
This is a very common situation where the seller has junked vehicles on the property and has not removed them yet. This can be a deterrent to the buyer who wants to take over the property. It’s best to remove the vehicles and make it look as attractive as possible prior to listing the property. You want the buyer to go into the deal feeling confident about his purchase.
Lot Line Adjustment
If you are selling a large property and want to retain some for yourself, take care of that prior to putting the property on the market. That can take some time and is something the buyer shouldn’t have to deal with after the purchase. Are there any encroachments on the property that would require a lot line adjustment property to closing?
Clean the Property
If possible, do a walk-through of your property with a large garbage bag and clean up any trash left there by those who may have come onto your property when you weren’t there. I have found properties that people have used to have parties and there are beverage cans, empty food containers, and a variety of debris left behind.
Provide Reports
If you had any work done, provide reports from the agencies that provided them. Was there a well inspection? If so, when? How long ago was the septic tank installed or used? Are their building permits?
If you have any questions about buying or selling land, I am happy to set up a call with you to see how I can be of help – realagentcarla@gmail.com.
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