Thinking about selling land? You might be surprised to learn that selling land is not like selling a house. In this blog post, you’ll read about why selling land is different than selling your house in Texas…
When you own a property, you might not give a lot of thought to whether it has a house on it or if it’s just a land or lot. However, there are differences and they can affect the sales process. Here are 4 reasons why selling land is different than selling your house in Texas.
4 Reasons Why Selling Land Is Different Than Selling Your House In Texas
#1. You’ll Need A Survey
Selling a house is really about selling the structure; but selling land is more involved because the buyer might want to buy the land for development, to live on, or for some other purpose. So, when selling land, you’ll probably need to provide the buyer with a survey. This will help the buyer understand the make-up and actual dimensions of the property so they can determine if the property meets their needs. It can also help the buyer understand if there are any encroachments on the land or lot from neighbors. Often, neighbors may put up a fence or structure that encroaches on the neighboring lot and therefore adds to the total square footage of their own land or lot. While this is a situation that can often be corrected by obtaining a survey and speaking with the encroaching neighbor, a potential buyer would want to be made aware of any potential problems before purchasing your land or lot.
#2. You Can Skip The Structure Inspection
When selling a house, the focus is on how good the structure is and whether or not it will continue to be a safe structure for its users. So, if you’re selling a house, the focus is on fire and flood potential, upgrades, risks like mold or termites, etc. But when you’re selling land, these factors don’t matter.
#3. You’ll Need To Identify The Development Potential
The secret to selling a house is to get people to see themselves living there; the secret to selling land is to get people to see the development potential of the land either in the present or often in the future. For example, you might want to tell buyers about any restrictions on building on the land or lot, and whether it is zoned as residential or commercial. Potential buyers may also want to know if there are utilities including water and electricity that are already available to be connected on the property. Depending on the condition of the land or lot, buyers may also want to get an estimate on how much it will take to be cleared of trees and any other growth that may be present.
#4. It’s A Different Type Of Buyer
When selling a house to someone, you’re usually talking to a “retail buyer” – that is, someone who is thinking about buying a home that they can live in. But when selling land to someone, it’s often a very different kind of buyer – while you may be selling to someone who wants to build a house or move their mobile home to the property right away, you may also be selling to someone who wants to hold the property to build later, or wants to construct several homes or even a commercial property. When you know who you are selling to, it becomes much easier to tell the right people about the potential of the property.
Do you have land you want to sell in Houston or the surrounding area? If you’re thinking of selling and if you’re wondering why selling land is different than selling your house in Texas, then you might like this: we are currently buying land and would like to make you an offer for your land.