Land property in an attractive location is a true gem. These properties are often a target for land developers looking for ideal places for their commercial and residential developments.
If you are a landowner, getting in touch with developers can prove to be a smart move. However, they have years of experience in the business and know what they need at each moment. That’s why you want to maximize the chances of finalizing the deal, and these are the tips that will help you reach that goal!
Is an Expansion Possible?
A residential property might involve a condo or a home with multiple floors, a garage, a big garden, etc. It’s not often that the developers are after small pieces of land. Instead, they are looking for larger plots that will give them sufficient room for the desired project.
If you are aiming to do business with the developers, check out the surrounding properties. Are the owners interested in selling their land? If an opportunity arises, purchase the plot adjacent to yours. It will be more attractive for developers to have a large piece of land. Additionally, you could negotiate a higher price if you own most of the land in the area.
The Importance of Zoning
Put yourself in the shoes of a developer. You want to purchase land that’s ready for what you plan to construct there. If you need to change zones, that’s a bunch of paperwork and potential legal issues. That’s why it’s imperative to match the zoning with the developer’s intentions.
You can check the regulations and the current property zone by contacting the county authorities. Also, if it doesn’t suit the desired developer’s plans, ask how difficult it is to alter zoning. Some local authorities make that job easy, and the paperwork also depends on the property’s characteristics.
Look for Opportunities Constantly
If you have land for sale, you should start with the basics. That means finding a reliable online listing and publishing details about your property. Don’t hesitate to include a detailed description and never underestimate the importance of photos. Make sure the pictures are of excellent quality, and think about videos and virtual tours, too.
Your job isn’t over once you list the property. It’s vital to mingle around town and look for potential developers to meet. It can help to interact with people in the real estate industry because you never know which contact could lead you to a developer. If you own land in a small town, connections could secure a successful sale.
Partner with a Real Estate Professional
It might seem you have an attractive land property for selling. However, it’s not easy to find a buyer without partnering with someone who knows the market. That’s where real estate agents come into play.
The realtor’s task is to know the market inside and out, and that’s how they help to connect developers and sellers. While listing the property online is important, finding a real estate agent with the right contacts can prove crucial.
Identify the Right Property for Selling
Developers often pick areas that are still in development but have an exciting future. If you own land in a distant and rural area, it might be tricky to find an interested investor. However, if the property is in a town that’s expanding quickly, the odds are you’ll start receiving offers soon.
Are there any factors that suggest the area is developing? For example, did they build a new road recently, and it passes close to your property? Is there a new factory and the unemployment rate in the town is lower than ever? Perhaps the local or federal authorities are offering tax relief and other development incentives?
It’s all about having patience and waiting for the perfect moment. As long as you are persistent, you’ll find the ideal developer for selling your vacant land!
Skylar Ross is a writer for Land.us who specializes in topics related to land management, property investment, and real estate. He focuses on helping current and prospective landowners care for their land, discover investment opportunities, and be successful in land brokerage deals.