You want to sell your land for as much money as you can when you decide to move. This may be the reason why there are so many landowners ready to list in the current seller’s market. You have a variety of alternatives when it comes to how to sell your land in Central Texas, which is a lovely thing. There are actions you can do to enhance your property or ranch before you sell, just as you would if you were selling your home. And a few of them are simpler than you may imagine! These five suggestions include two price approaches that have been successful for our clients as well as a few techniques to raise the worth of your home before you sell.
Remove the distractions
We lost count of the number of times our agents have seen junk-filled houses. A tank may occasionally include scrap metal from abandoned tractors or old water pipes from a windmill. Other times, it is actually rubbish, whether it comes from locals using unoccupied ground as a dump or waste that has been blown in from the neighborhood. Whatever the cause, taking the effort to clean it up yourself or hiring someone to do it for you will be worthwhile in the long run.
There will always be a buyer who would argue that it will be more expensive for them to clean up the land than if you, the seller, paid someone to do it. You might ask for bids and include that sum in the contract for purchasing the land if you believe that you cannot afford to pay a respectable business to do it for you. When your land is sold, the cost of clean-up is then expressed as a specific and measurable dollar sum.
Note this! If you do decide to clean up the land yourself, make sure you know how to properly dispose of garbage in order to prevent pollution and worsening of the situation. The Texas Commission on Environmental Quality, or TECQ, website is an excellent place to get answers to your inquiries about land, trash, and cleaning. Paying a certified “junk removal business” to help you may be more cost-effective and safe, depending on the type of rubbish or waste that is on your property.
Create a list of special features.
Nothing is better than selling your land when it has distinctive attributes that a real estate professional can emphasize. Sure, you’ll want to emphasize things like your agricultural exemption or the presence of utilities at the road, but taking the time to thoughtfully identify the aspects that make your property stand out from the competition will encourage buyers to visit and have a look.
Last, although though it’s not exactly a unique feature, it’s crucial to emphasize how far away certain locations are from your home. People are curious about the distance they would need to go in order to acquire groceries, watch a movie, drive to work, drop off their kids at school, etc. Therefore, deciding to indicate how distant important highways and cities are from your property can help to distinguish it and draw in more buyers.
Maintain Small Things and Make Repairs
On a ranch, there will always be something to fix, and even undeveloped acreage frequently has a gate or fence that needs maintenance. Making a list of repairs with your real estate agent is the best option here since they can help you assess which fixes will genuinely raise the value of your home vs those that you might think will.
You can find a lot of information online to assist you determine what improvements to make to your house to raise its worth. Here are a few issues we’ve observed with regard to land in particular that you may fix to add value:
- Ensuring that the entrance gate is simple to open and close. To obtain some clearance, you might need to dig out the ground below. Alternatively, it would be advisable to completely remove the gate from the post and raise it up to avoid having a mud puddle entry.
- Fix any holes in the road or driveway leading to the building site. Animals can cause holes in the road, but sometimes it’s just normal wear and tear from use. Put a band-aid on the problem; don’t worry about extensive maintenance or extermination.
- Repairing fences may go a long way, especially if you’re selling your property with other ranchers in mind. Land that is fully fenced sells for higher money.
Price It Properly
How to price your house to sale can be done in a variety of ways. Whatever approach you select from the ones listed below, we strongly advise hiring a REALTOR® who specializes in selling land. The strategy and process of a real estate purchase can rapidly become quite difficult to navigate. In a sellers’ market, in particular.
Price Strategy #1: Determine the value of your product based on the market.
Request a CMA, or comparative market analysis, from your REALTOR. They will examine land that was sold on the MLS with comparable characteristics to yours, in the same region, and with an equal amount of acres. Depending on the information they want, they may search back even farther than the latest 90 days of sales. They may safely assess the value of your land using this information. NOTE: A REALTOR is not an appraiser and is not legally permitted to estimate the value of your land. Only a hunch or estimate may be made.
Price Strategy #2: Give yourself room to deal.
You can set your sales price considerably higher than it is worth and bet that a buyer would agree to pay the price, starting with the CMA indicated above. In this case, your land would ordinarily appraise for less than what you are asking for it, necessitating the buyer to pay the difference out of their own pocket (if they are borrowing money from a bank). Even if the buyer has cash, they will want you to reduce your asking price in this case to reflect what your land is really worth. Although utilizing this price plan may seem more profitable, it will eventually need more negotiating and take longer to sell than using the first technique.
As you can see, there are a variety of ways to both raise the value of your home and use various marketing techniques to sell it. Selling land, both for residential and commercial purposes, is a specialty of our agents. Contact us or give us a call at 512-856-6653 if you have any inquiries regarding further ways to increase the value of your home or if you would like us to visit your property and provide a valuation assessment.