When To Sell Raw Land

Do you plan on selling your vacant land? Like any other type of sale, there are certain circumstances and events that you can observe in order to make sure that you will get the best deal in doing a sale of your real estate property. Unfortunately, we could not give you a definite calculation of when is the right time in the foreseeable future for you to sell (we know, total bummer), but what we can do is provide you with signs that you can use to evaluate your personal situation if it is already the right time to sell your raw land.

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You Don’t Need the Land Anymore

This is pretty obvious, but let me explain further.

There might be a handful of reasons why you have purchased your land in the first place. It might be that you fell in love with the land or the nearby views, or maybe you wanted to start your own business in that particular area of town. Whatever it may be, if you’re reading this article, chances are it did not work out. And that’s totally fine. As responsible adults, we have to roll with the punches and live to see another day.  

With that being said, you have come to the realization that you no longer have an interest in keeping the property – and that my friend is the reason number one that you should start looking for a buyer. No matter how hard you think, you cannot find an effective means of use for your land making it more of a liability than an asset. And remember: we are talking about raw land here. Raw, as in bare, vacant, no house, no anything. So if you failed to realize the dreams that you had when you bought the land five years ago and you slowly see your plans for the property slowly drifting away, then you should start considering selling your property.

One more thing that you might want to look at is the possibility of your property being charged with penalties for unkempt land. Basically, if you have not been able to do a visit to your real estate for quite some time, and it is located within the limits of the city, you could potentially end up paying a large sum of money in fines due to code violations for unkempt land. So always make sure that you have educated yourself on local restrictions for uninhabited properties.

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There is a Potential High Income for Selling Your Property

Let’s stop talking about all the failed dreams and that gloomy stuff and take a look at some positive scenarios that one can experience in selling raw land.

If you are lucky enough to have invested in a property that is in a prime location, chances are, your property would have doubled, tripled, or even more in value today! Now, that is what you call a true real estate investment!

Depending on the market and the potential for growth of a certain area, land market value can appreciate fast. That is why, for most people, investing in real property is a much better approach to growing their money due to its high earning potential. For example, if your raw land is going to be bought by a large company to be developed into a resort or a supermarket, chances are these companies will come with very deep pockets – always ready to buy your land at the best possible price.

Of course, that cannot be the case all the time but if you’re lucky enough to have a similar experience, be sure to know when is the right time to sell. If you have properties laying around that might be in a good position to be sold at a higher price, this is definitely something that you want to consider. Always consult with real estate agents on the best way to sell your property, and if possible, get help from qualified appraisers so you will have the right value for your property.

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You Need to Relocate

People relocate all of the time. A change in career, starting a new life, or just wanting to try living in a totally different place would compel you to sell your property and get your life started in a totally new neighborhood.

If this is something you have to go through, it might be best to sell your raw land before you relocate. At this time, if there are no major events that will allow you to sell your property at a high profit, then at least try to recoup your initial investment. One of the fastest ways to sell might be through the help of real estate agents. But you have to be ready to shell out on average 6% of your property value for the commissions.

Also, keep in mind that selling raw land will take a lot of time. Sometimes, it can take years. So if you have plans of moving out, be sure to iron out the selling of your property at least a year prior so you will have enough time to process the papers. This is more important if you will be using the proceeds from your raw land to start your new life somewhere else.

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Sell to Land Companies

If you have plans of selling your raw land or if you already made the decision, one proven way that you can do so as fast as possible is through land companies – like us here at Land Boss.

What land companies do is buy your property and give you the offer as fast as one week. Land companies can be able to do so because we will buy your property slightly lower than the market value. This is important because we are operating as a business and we will do all the necessary steps in selling your land which can take up to years depending on different factors such as location and economic conditions of the place where your property is situated. But on your end, you will just have to provide us with your intent to sell, including some information about your property and we can give you the cash offer in as fast as seven days!

If this is something you are interested in exploring, let us know by providing us with the details of your property and we’ll get back to you as soon as we can.

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Photo by Jahoo Clouseau

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