We buy land in Minneapolis St Paul Minnesota . If you own land but don’t want to sell it through a real estate agent then make sure you read this blog post to help you know how to sell vacant lots and land without a Realtor in Minneapolis St Paul or out state in Minnesota ?
If you are a land owner in Minneapolis St Paul metro area or surrounding area, and if you’re thinking about selling it then you’ll want to know what your options are. We are going to show you how to sell vacant land without a realtor and a final way that makes it really ease for you.
Most people go the traditional route of selling their lots or out state acres of land threw a Minnesota real estate agent (also known as a Realtor). But, did you know there are other options that might make more sense to you. An agent might be able to find a buyer (but might not) and you’ll have to pay them a hefty commission at the end. Agents on an average charge 4% to 7% to sell land in and around the twin cities.
How to sell vacant lots and land without a Realtor in Minneapolis St Paul
Pull Together Information on Land
The first step is to pull together all the information that you are going to need to market and sell your land. If it is out state and you are selling lets say 40 acres of land, it may look a little different than someone selling a city lot in Minneapolis St Paul. Make sure to have a copy of your deed, the size of the land, are there an encroachments on the property. Check with the county or city see if they have any upcoming assessments that are going to happen. Is there any improvements on the land including, city water / sewer, phone lines, utilities, wells or underground tanks. While at the city ask if a house or structure can be built on the land.
If you want to skip the use of an agent and all the headaches from trying to sell a vacant lot or land contact us, we buy lots and land all around the state of Minnesota . How the process works to buy your land.
Market your land
The nest step is to get the word out that you are wanting to sell you land . You must start to think differently about this. Are you going to try to sell it to a developer who may be thinking of building 100 houses on it or maybe an office complex. Selling vacant lots and land without a Realtor in Minneapolis St Paul isn’t hard, it just takes some time.
Post it for sale on classified ad sites, in local newspapers, on Craigslist, on your social media, and even on posters that you put up around town. Go talk to a local agent and tell them that you do not want to have them sell your land, but if they bring a buyer they can mark up the land with their commission and sell it to their client. And make sure you stay on top of your marketing because people need to see something a few times before it really registers in their mind! Make sure you post the details, including size, location, price, and your contact information. It’s also helpful to give people some ideas of what the property is best used for.
Disclose anything that might come up as a negative on the front end. Examples: The neighbors driveway has a easement on your land, the back half of the land is not build able, or maybe the city is redoing the streets next year. In meeting with the new buyers you will have to discuss who is going to pay for the new road assessment.
Show your Vacant Lot or Land
When someone contacts you about your land, make arrangements to show it to them. You may or may not want to be there when they’re looking, but it might be helpful if you walk them through it and show them various features of the property and answer their questions. This will also help you hear directly from potential buyers so you can know what’s important to them, which could help you as you market your property.
In today age, some buyers of larger acres of land want to see a video of the land as their first round of showing. Go ahead and drive around the property and make a video while discussing that area of the land and what makes it interesting.
Negotiate and close
When you meet someone who is interested in buying, invite them to make you an offer. Remember: no offer price is final; you’re each sharing your starting point and then trying to find ways to meet in the middle, which could include lowering the price, adjusting the terms, or providing some other kind of incentive to the deal. The deal is not a deal until each feels good around the deal.
Examples of how to sell vacant lots and land without a Realtor in Minneapolis St Paul :
- Outright all cash offer or buyer gets a loan from a bank
- Buyer pays a down payment and you the seller carry the note until its paid off. During negotiation you determine the down-payment, interest rate, length of the loan, and when it will be paid of.
- Rent with option to own. You strike a deal with terms stating that you are going to rent the land to rent for a period of time and then at that time, the buyer gets an option to buy and a predetermined price. this is used alot for hunting land.
Keep it legal!
One of the reasons why people sell through an agent is because the agent can help negotiate the challenging parts of the contact and ensure all parties are protected. You’ll want to carefully research your obligations and requirements before you commit to anything. Once you figure out everything between you and the buyer have a lawyer look at the paperwork and use a title company who can finish the transaction for you.
Owning just land can be expensive over time. There are many hidden expenses of owning vacant land including you may have a mortgage on it, property taxes, garbage collection and just the emotional weight knowing you have a asset just sitting there not making you any money but costing you.
If this seems time consuming, did you know there’s another way to sell? If you want to know how to sell vacant lots and land without a Realtor in Minneapolis St Paul you might be glad to know that there’s an even easier way to sell: you can sell directly to us here at Minnesota Cash Home Buyers. We buy vacant lots and land directly from buyers (we’re not going to list it like a Realtor would – we actually want to buy).