Land, They Aren’t Making Any More of It
As the adage says, “Land is one thing they aren’t making any more of!” If you are searching for a sound investment, dirt may be just the thing! Already have land and are ready to cash in on your investment? It is essential to know the unique qualities of your land to market it effectively and find the perfect buyer. Choosing an experienced, qualified realtor is the first step, whether you are ready to sell your land or invest in acreage.
Benefits of Land Ownership
Land ownership can provide various benefits, including investment potential, privacy, and the ability to use and control the land. However, it is essential to carefully consider the management aspects of land ownership before purchasing.
Essential Questions During the Search for Land
- Do you love it? This is the most essential question to ask yourself. Do you love the property? Never buy a property sight unseen. See it, walk it, touch the trees, feel the water. Do you love it? Can you paint a picture of your vision for the land? If painting a picture is difficult for you, choose a realtor with the knowledge and expertise to help you envision the possibilities! A realtor with vision can also market a land’s potential to prospective buyers!
- Will it work for your planned use? Are you planning to build your dream home, parcel it out for multiple homes, or use it as hunting and recreational land? Whatever your intended purpose, make sure the ground is suitable. Check zoning laws, building restrictions, whether the land has yielded hunting trophies, and whether it has a water source for wildlife. As you paint the picture of your vision for the land, ensure it is suitable for your intended use. When listing land, your agent will investigate all these things and not only market the land appropriately but be able to answer these questions for potential buyers.
- Is it in your price range? This is a seemingly logical question but remember that the price per acre is relative to the property’s location. Pricing correctly is critical and tricky. An experienced realtor can help you determine the right price. Land in the city limits may be higher than acreage in a rural area. Take this into account when choosing your price range and selling price. Do you prefer to be closer to the amenities of a town or city, or are you looking for something more private in a rural setting? The location directly impacts the price per acre and, therefore, the overall cost.
I’ve Made a Choice! Now What?
Once you’ve chosen the land you are interested in purchasing, there are a few essential things to ensure the transaction goes smoothly. An experienced realtor will help with these steps and is a critical representative to have throughout this process.
- It is the buyer’s option, but it is always advisable to obtain a title search to ensure a clear title of the land. The buyer will be responsible for the cost of the attorney to have this done, but the realtor will assist with the process.
- It is always advisable to check with the Register of Deeds at the county courthouse and pull a survey of the land. Knowing property lines is essential. If no survey is on file, seek a surveyor and complete one.
- Ask for a perc test, especially if you plan to build on the property. This test is essential for many reasons, including designing a leach field for a septic system, planning a building design, or considering agricultural land use. Refrain from assuming that your land will perc like your neighbor’s. Take the time to have the soil tested and do this as soon as possible.
- If you are the seller, before listing, ensuring you have had a perc test, survey, and clear title can expedite the process and make for a smoother transaction.
Representation Matters
Selling or purchasing real estate of any type is one of the most significant investments you will make in your lifetime. Representation from a licensed, qualified real estate agent is the best way to ensure fair representation and a smooth transaction. A code of ethics binds realtors. They are familiar with the legal and necessary paperwork. They are skilled negotiators who will look out for your best interest. Land transactions come with specific considerations. An agent who is knowledgeable and experienced can help you choose land that suits your needs and vision or market your land according to its features and uses to find the perfect buyer and get the most from your investment. Your agent will be there from start to sold to represent you throughout the process.
If you’re looking to sell or invest in land, you can be confident that it is one of the few investments that cannot be duplicated!
With 25 years of experience in land sales and development, our land specialist, Ron Beck, has the knowledge and expertise to assist you with selling or buying acreage. Contact Ron at 704-578-5120 or email him at ron@mylewisrealty.com.
