3 Steps to Buying and Selling Land: Potential, Pricing and be Prepared!

Number one thing to consider about land before price is zoning!

Do your  "due diligence." Zoning effects what the land can be used for. Zoning effects the square footage of the property that can be built, number of stories, even the number of structures. Many sellers create  for sale prices from emotions value There is a limit a buyer will spend to build. The deal has to be make sense if not everyone's time is wasted.

I advise to 3 following steps for both Buyers and Sellers:

1. POTENTIAL
Consult an architect and see the current zoned land uses of the property. WHAT CAN BE BUILT!
Sellers-sees the buildable value of the property
Buyers-sees if property meets current and future needs

2. PRICING
Check the real estate market past and present so you can predict the future sale price of the property.
Sellers-avoids over pricing and quickens sale
Buyers-gets a sense of market value

3. PREPARED
Seek financing for the land and for future construction needs.
Buyers-see if you can purchase-down payment, monthly payments for land and building
Sellers-see what buyer may need to buy property; avoid wasted time;  usually a higher down payment.

Consult a local Real Estate Professional for help.

Milton D. Johnson

Licensed Associate Real Estate Broker

www.milton4realestate123.com