Do you have a piece of land siting empty. Are you wondering how you can make money out of it? Perhaps you purchased it a while back intending to develop it yourself but just haven’t got round to doing so, or you got the land as an investment and was just sitting on it waiting for the land value to increase?
Either way, you’d be happy to know that land has never been in greater demand!
When demand exceeds supply, as is the case now, it causes property prices to spike as dictated by the laws of economic.
Does Your Land Have a Potential for Development?
Selling undeveloped land is not as straightforward as selling a house. By selling vacant land, you are selling what could be there instead of what is there. In short, you are selling a vision of what the land could be developed to.
To be able to market your land effectively as a seller, it pays to do your research in order to negotiate for the best price for your property. This includes being aware of the land’s attributes, such as the future development by local authorities, and of course, the market value.
If your land has a wonderful view, or is level and flat, it could command a higher price compared to nearby properties.
In order to be certain of your land’s potential and get the most profit, you can contact estate or land agents and planning consultants.
Why Sell Land to a Property Developer Directly?
It is easier to reach potential land buyers now more than ever by listing your property online. You can now directly engage with developers interested in your area. Here are the benefits of selling land to developers compared to single, residential buyers:
1. Clear Communication
Once you have decided to sell to a reputable property developer, they will propose a contract where the details of the sale are clearly stated and the responsibilities of both the buyer and the seller are outlined.
2. Less Uncertainty and Risk
The sales process can be smoother with a developer as they do not rely on approval of a mortgage to fund their purchase. As their business is property and land, they usually have the money to buy your property outright. This means that the risk of the sale not going through is much lower.
Furthermore, they are less likely to back out of a deal because they fell in love with another property as opposed to an individual buyer.
3. Save on Improvement Cost without Diminishing Value
Since developers have their own vision for land, it would not be a problem if the land is left unchanged. This could save you significant amounts of time, money, and energy that would be spent in improving the property.
4. Quicker Sales Process in a Slow Market
In times of recession or economic downturn, the individual potential buyers may hold off purchasing a piece of land. This could mean waiting a long time before you will be able to sell your land. However, for a developer with vast resources at their disposal, financing would not be a problem.
Indeed, a developer may want to buy more land in order to divide it into smaller units which they can sell quickly in a challenging market.
5. Avoid Estate or Land Agents
In this age of Do-It-Yourself (DIY), selling directly to a developer means not having to deal with estate or land agents. This means you get to take home a larger profit from the sale as you don’t need to pay the commission of your land or estate agent.
6. Less Hassle
If you own a large piece of land, developers may opt to purchase your land in pieces instead. This eliminates the hassle of moving out while you get to cash in on your land investment. Win-win!
7. Higher Sale Price
You may be able to sell your vacant lot for more than the market value, but it depends on a couple of factors; for example, what kind of development is approved by the local authority, or if other developers are interested, your land may be the subject of a bidding war.
Tips To Help You Sell Land to Developers
Now that you’re ready to sell your land to developers, you must know that you’re not the only one who is looking to sell your property. Other landowners with similar properties may have their own property advertised.
Don’t worry, we have prepared some helpful tips on how to stand out and close that sale:
1. Know Your Land
And more importantly, know what your land is worth.
Most developers are highly-skilled at negotiating, so it’s important that you find out as much as you can about your property and do not hesitate to ask for how much you know your land is worth.
2. Network with Local Authority Officials
It’s good to be in the know regarding the future development of the area around your land, and who would know it better than your local planning officials?
Planning dictates how the site can be developed. This may or may not be the buyer’s intended development for the property so it is important to know this beforehand.
3. Talk with Fellow Landowners
Your neighboring landowners may have sold their land before you. Ask them how much they sold their land for, so you can have a benchmark. You can also meet with other developers interested in the site so you can check out how much they are willing to pay.
4. Expand Before You Sell
Usually, before developers embark on a housing project, they would want to buy large tracts of land at once. This eliminates the hassle of negotiating with several individual landowners with smaller lots.
If you paid close attention to the developments in your area by following tips #2 and #3, you can consider buying more land in areas which could make the sale even more attractive to the land developer.
5. Exercise Prudence
It is not advisable to sell to the first buyer that comes along. Sometimes, it pays to wait a few months or years for some developments to start and cause the price of your land to increase so you can maximize your profit.
Closing Thoughts: Selling Land to A Developer
More and more buyers are looking for land ready for development. The offers a brilliant opportunity for landowners to finally cash in on your investments. 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 the tips provided here. 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.
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