How to Get Prepared to Sell Your Land.
What can I do to increase my chances of getting an offer on my land? How can I make my land desirable to potential buyers?
Preparing to sell a vacant lot involves navigating a variety of legal considerations, which can vary between states, counties, and cities. For guidance on the specific regulations in your area, reaching out to your local city or county office is advisable. Additionally, consulting with a knowledgeable local realtor and your HOA can provide valuable insights tailored to your neighborhood.
Here is a comprehensive list of information to help you prepare for selling your land:
Gather Documents and Information:
Obtain all relevant documents, including property deeds, surveys, zoning information, and any applicable permits or entitlements.
If you have had a survey done on the property it does need to be recorded to be valid. You will need a recent boundary survey for a vacant lot.
If a deceased person is on the deed, you will need a valid death certificate.
Verify with any HOA additional covenants, conditions, & restrictions if applicable. It is always important to inform your HOA of any planned sale.
Compile information about the property, such as lot size, boundaries, water rights, soil quality, utilities, and any existing structures or improvements.
For water rights information in New Mexico you can look up information at: Water Rights Lookup - NM Office of the State Engineer (Not all records are input online, so please call State Engineers office for additional help needed)
Assess Property Condition:
Conduct a thorough inspection of the land lot to assess its condition and identify any potential issues or concerns.
Address any maintenance or repair needs, such as clearing brush, removing debris, fixing fences, or repairing roads or access points.
Having a lot clean can increase property value and will sell quicker. Properties that are overgrown can prevent buyers from seeing the size and potential of the land. It is also an additional expense to clear the lot and a buyer might not want to do that.
Determine Zoning and Potential Use:
Research local zoning regulations and land use restrictions to understand what types of development are permitted on the property.
Determine the potential uses for the land lot, such as residential, commercial, agricultural, recreational, or mixed-use development.
Evaluate Access and Utilities:
Assess the availability and adequacy of access to the property, including roads, driveways, and easements.
Clearing the easement access of utility lines, brush, trees, and trash for viewing is vital.
Determine the availability and accessibility of utilities, such as water, sewer, electricity, gas, and internet service.
Enhance Curb Appeal:
Improve the appearance of the property to enhance its curb appeal and attract potential buyers.
Consider landscaping enhancements, such as mowing grass, planting trees or flowers, and gravelling the driveway.
Remove any trash on the property and repair fencing if needed.
If there are any pests inhabiting the property find a pest control company to set traps and handle disposal.
Pests can cause harm to you or a potential buyer, so seek professional help.
Consider Environmental Factors:
Assess any environmental factors that may affect the property, such as wetlands, flood zones, endangered species habitat, or contamination.
Obtain any necessary environmental assessments or studies to address potential concerns and provide information to buyers.
Consult with Professionals:
Consider hiring professionals, such as real estate agents, land surveyors, attorneys, or environmental consultants, to assist with the sale process.
An assessment of value will be determined your Real Estate Agent.
Seek advice from experts in relevant fields to ensure compliance with regulations and maximize the value of the property.
By following this checklist and thoroughly preparing your land lot for sale, you can increase its marketability and appeal to potential buyers, ultimately maximizing its value and facilitating a successful sale.
