Selling FL land can be a difficult process, but you can accelerate the sale by taking proactive measures. From showcasing property attributes online creatively to streamlining title issues that commonly stall deals, you can attract qualified buyers sooner and reduce sales cycles 30-60+ days on average.
The key to successfully selling Florida land is understanding the market trends and the unique factors that influence its value. The type of land, its highest and best use and any legal restrictions can all affect the price per acre. A real estate appraiser can provide insight into these factors and help you set a fair price.
Another important factor is the demand for land like yours in your area. Are there tons of similar lots or acreage on the market, or is your property a one-of-a-kind diamond-in-the-rough kind of deal? If the former, you may be able to ask more than the current market value.
Land with paved roads, utilities, permitted plans for construction or other improvements tends to be more attractive to buyers than raw land. However, these features can increase your costs, so be aware of the financial implications. In addition, buyers will likely be interested in any minerals that are present on your land and the potential income they can generate in the long-term. Researching these trends can help you understand the local supply and demand for different types of mineral rights and set a fair price.
Once you have a fair understanding of the market and the factors that influence land prices, it’s time to get your land ready for the sale. This means cleaning up the property, taking high-quality photographs and addressing any environmental concerns. Networking with local builders, developers and business owners can also be helpful to uncover new opportunities for your land sale.
Lastly, you will need to put together all the required documents for the sale. This will include a purchase and sale agreement, land survey and other relevant legal paperwork. You will also need to be clear about any taxes or fees you owe, and disclose any issues that could potentially impact the buyer’s ability to buy your land.
A common mistake that many land sellers make is assuming their land will sell quickly by itself. Just like the residential real estate market, the land selling market is complex and requires an in-depth understanding of current conditions, trends and prices. If you are unable to sell your land by yourself, consider working with a direct land buyer who can pay you cash for your property without the hassle of going through a traditional real estate transaction.