A question that likely goes into people’s minds for land sales is “How long does it take to sell a piece of land?”
Let’s be open from the outset: there’s no single answer for how long it takes to sell land. The length of time taken to sell a piece of land can vary considerably between different types of land. It is difficult to provide a definite timescales for a land sale, but we will do our best to outline the important considerations.
The reason for this is that the market for land can be more complicated than, say, a simple sale of personal property, a food item, or selling homes. There are several variables and many other factors to take into consideration. Land buyers are also less common compared to your average, traditional, everyday house sale.
Most people don’t really have the resources, such as time and money, to buy land. However, lets say a land buyer comes to you and explains they are interested in your land and ready to sign a contract and transfer the money. What then?
In this piece, we’ll talk about the process and the time factors for selling land. We’ll outline some unique challenges that make selling more difficult compared to selling other types of property. Finally, and most importantly, we’ll help you to remember key factors when selling land fast.
Let’s begin your journey towards putting out a sign that says “sold”.
Time Factors To Consider When Selling Land
As we mentioned, there are several variables that come into consideration when determining the time for land to sell. This makes estimating an accurate time frame difficult, if not impossible.
But, as with any transaction, we can take some facts and information about the property and sale and, from there, make an evidenced based estimate.
For example, we can assume that preparing a single contract that is related to the sale will take only 1 to 2 weeks, at most. We can guess time for bank transactions or transfers. We can create a marketing strategy based on a budget and estimate the time it will take to generate interest.
What we cannot estimate, however, is the time that it will take to find the right buyers. This part is undoubtedly the part that is the most difficult to estimate – it could take a several months or several years.
Even if you have suitable land that is equivalent to a “move in” ready house with great market value, close to local shops, parks and leisure facilities, and is in the right location, your chance of finding the right buyer within a certain period may still be as unknown.
Estimate Time To Sell Land
To make things simple, here are some factors you can consider that can help you to understand so that you can estimate the time taken to sell your land:
- Are you willing to work with an estate or land agent?
- Are you only interested in dealing with cash buyers for your land?
- Are you looking for fast cash, or do you want to wait for the right buyer for a higher price?
- Can your marketing strategy afford to take months or years?
- Are you a seller that’s approachable and welcoming?
- What is the current, local market for your land?
- Do you have a strong network or fewer contacts in the area who might be interested in selling?
- Do you want the highest price possible or are you negotiable?
- Where is your land located, in the countryside or in a busy, built up area?
- What type of land do you own– farm and cropland or a lot without structures and utilities?
- Are you willing to offer a flexible deal, such as monthly payments over a longer period, for potential buyers?
Your answer to these questions can help you make an educated estimate of how long it takes to sell land fast. The ultimate time factor in all this is you. In an average market, if you move fast, work fast, or are very persuasive, you increase your chances of selling land faster.
Does Selling Land Take Longer?
Yes, it may take longer to sell land than, say, existing homes for sale, or land with structures and utilities (water, electric, even gas). There are a few reasons it can be so.
One reason is that there are fewer potential buyers for vacant land. Another reason is that the land market for vacant land requires a different approach than selling other types of property. Learning how to sell vacant land will help further understand these differences.
Selling Raw Land Privately
Selling land without an estate or land agent means taking on all the work by yourself. As we mentioned earlier, the most important time factor is you. If you work fast, your selling process will be equally fast under average market conditions.
You can compound the speed of this process by learning more about selling land by owner. Another option is working with a cash land buyer– many land investors can reduce the time it takes to sell land by months.
At K&G Lettings Limited, we can close on your land in as quickly as 30 days. We invest in land across the UK, specialising in Yorkshire and Lincolnshire. and have the cash on hand to make your land sale faster than working with traditional land buyers. Give us a call to find out more about our land buying process and how much we can offer for your land. We would be happy to answer any questions if you want to give us a call today on 01482 961961, Text ‘SellMyLand’ to 07984388819, email Land@kandglettings.co.uk or complete the form below to get your price and start your sale.
Selling Land With an Estate or Land Agent
Getting in touch with estate or land agents will undoubtedly relieve you of a lot of stress. Having an experienced agent deal with the land buyers and the market is not only convenient but also less time-consuming for you as the seller.
Though this convenience might give you time back, there is still a great deal of waiting around for a buyer and a hefty fee to pay (8%-10%). Not to mention most real estate agents primarily focus on buying and selling houses, so a land sale typically comes second on the priority list. This can drag out the amount of time it takes to sell land on the market.
Compared to selling property by owner, however, having an estate or land agent means leaving the time factor to them. If your estate or land agent is experienced, has a lot of contacts, and can generate strong interest for your property through competent marketing, then the time to sell the property may be shorter.
It’s important to keep in mind that no matter how much experience an estate or land agent has, a good chunk of a sale is almost always because of the land’s features, such as its price, location, and the type of buyers that would want it (e.g. developers, farmers, investors, etc).
Our Land Selling Checklist
Here is a checklist of the things you need to do and know to sell your land fast:
- Do your research
- Study the land market for your land
- Identify your target land buyer
- Create a marketing plan
- Make a detailed land advert on as many websites as you can
- Reach out to your network
- Consult with an estate or land agent
- Include all information that potential land buyers may need
- Reach out and connect with other land sellers
- Highlight the best features (such as structures and utilities) of your land
- Ensure you present the land well to make a memorable first impression
- Consult with a conveyancer or solicitor
Remember that this land selling checklist does not cover everything. It should give you a good basis from which to move forward and you can tailor to your specific scenario. Working through this checklist initially will help with estimating the time to sell land.
Some Tips on How To Sell Land Fast
So far, we’ve given you a checklist and some time factors to consider when making an estimate for a timetable. Below we’ll give you some tips on how to get a sale for your land fast.
Set Your Price Early
Price is the first thing people look at. A buyer that can see the pricing of the land will also immediately know if he or she can afford it. This helps to rule out ‘tyre kickers’ who simply come to have a look at a piece of land, rather than to buy. The more serious buyers you can attract the faster it will be for them to pay and for you to sell your property.
Have Your Contracts Ready
Having your contracts ready before you even start meeting buyers can save a lot of time, too. Do your homework on what documents you need or, better yet, consult a solicitor or conveyancer. Typically a conveyancer or solicitor will have the necessary contracts ready to go, but if selling land without a land or estate agent, this will become your responsibility.
Make Yourself Reachable and Available
Make sure that you are reachable through as many routes as possible. It can be text, email, social media messages, or calls. The more you are available and the easier it is to contact you, the faster you can get your land sold.
Be flexible in Your Requirements
In sales, no one wants a complexity or a challenging situation. If your aim is to sell quickly, try to be flexible in your contract requirements and opt for the most convenient and quickest agreement that are reasonable to you.
Selling the land at a low price is one option, but there are other options available for you, as well if you have flexibility in how the seller can pay you, for example a monthly payment over several months.
Closing Thoughts
If you think about it, selling land can be as fast as one day or as long as several months. If the land property is well-priced and a group of buyers with cash come, you could easily have a land sale within 24 hours, perhaps even in the comfort of your house with an online sale.
If you are trying to sell a piece of land that holds little value, or you aren’t able to find the buyers you’re looking for, don’t worry. As land buyers, K&G Lettings Limited, are here to get land owners out of any situation and can help you sell your land fast!
Then again, you can always get in touch with an estate or land agent and have everything done for you.
If you have more questions about selling inherited land or how to find cash buyers for your land, don’t hesitate to contact us! We would be happy to answer any questions if you want to give us a call today on 01482 961961, Text ‘SellMyLand’ to 07984388819, email Land@kandglettings.co.uk or complete the form below to get your price and start your sale.
Get a fair all cash offer on your unwanted land by completing the form below. We’re professional land buyers and can make you a no-hassle no-obligation offer on your property. We specialise in buying land all over the United Kingdom, but particularly in Yorkshire and Lincolnshire.
Get Started: Get Your Cash Offer Below…
We are direct land buyers who pay cash. There are no commissions, no fees, and no obligation whatsoever. Start below by contacting us, so we can send your cash offer…
