There’s a buyer for every property, no matter the type, location, condition, curb appeal, size. As REALTORS® we must advise our clients of market value based on the economics of supply and demand for that particular market and property.
Recently I was asked to help a client sell a piece of land out of my area. Although it had a house on it, the building really was classed as a tear down, not fit to view or buy as improved real estate. So we listed the property as land only and SOLD! It was all about looking to see if there were any other sales in the area. There were a few and we came up with a likely sale for 6 months and a likely sale for 3 months. Ultimately the owners chose the 3 month pathway and in 77 days we were under contract and closed less than a month later.
We had several enquiries from buyers wanting to look at the house and would not buy unless they could do so. Each request was denied because we were selling land and pricing for the value of the land only. If we deny a request to view an unsafe house, a buyer must understand liability and accept our denial. The eventual buyer did just that, he paid cash, we closed at the targeted amount to sell in three months.
The photo is indicative of the lot’s overgrown status, again something we accounted for in our pricing as well as the need to tear down a structure.
Property owners that listen to experienced REALTORS®, and hire experienced REALTORS® usually get the predicted outcome. Congratulations to my clients for doing that and benefiting from a closed sale in under predicted time. More importantly they are not carrying a property over the slow winter months unnecessarily.
Having trouble selling your lot? Contact Corinne for an honest assessment of the demand for your property and likely sale amounts in 3 or 6 months. Call 847-363-3686 and work together to get your lot sold.