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7 steps to help you sell your land on your own and quickly
Real Estate

7 steps to help you sell your land on your own and quickly

Real estate agents are very fond of concluding exclusive contracts with sellers, where they legally impose their services and even forbid you to place your ads for sale. Therefore, in the self-sale of a land plot, I see only advantages, which I describe in detail below. You just have to prepare the documents and find a little time for the transaction.

Step 1 – sort out the documents

Documents that you need to sell a land plot:

  • Passport or notarized power of attorney for transactions with a specific land plot;
  • Notarial consent of the spouse for the sale, and with this, there are problems (600-700 USD);
  • Land title deed. This can be a purchase agreement from the previous owner, a donation agreement, a court decision, a certificate of inheritance, etc.;
  • An extract from the USRN is an official document that proves to the buyer your right of ownership of the land. In addition, the statement is useful when you need to prove that the site is not pledged in a bank, is not arrested, and does not have any restrictions and encumbrances. You can order a document without leaving your home.

Please note that Rosreestr sends extracts from the USRN within 3 days (there are delays). If you want to get information faster, I recommend ordering extracts directly through the Rosreestr API  – this way you will receive a document within an hour. The cost is the same – 150 USD, the official data is from the USRN Rosreestr and is confirmed by the electronic digital signature of the registrar (EDS).

Step 2 – calculate the optimal price

  • Type of land plot – individual housing construction is more expensive than SNT by 20-50%;
  • Ownership – property is 10-30% more expensive than rent;
  • 220V power line along with the plot – plus 20-30% to the price;
  • The closer the low-pressure gas pipeline is, the more expensive the site is; Residential buildings in the neighborhood add 20-100% to the cost;
  • A plot with good access roads is always more expensive; The presence of encumbrances reduces the value of the land to 80% of the market value.

The lower the price, the more likely a sale is. When there is nowhere to rush, I recommend to “feel” the market a little – to start selling at the maximum price, gradually reducing it. For example, lower the price once every 2 weeks.

Step 3 – prepare the plot for sale

  • Removal of boundaries on the ground. Flags will cost 100-300 USD per corner;
  • Mowing grass and combating bush. Sometimes it is cheaper to hire a bulldozer for 2-3 thousand and level the entire plot along with grass and bushes;
  • So that there is no water on the site – make stormwaters around the perimeter for another 2-3 thousand USD.

Step 4 – post an effective ad

The most effective way to sell land is through word of mouth and ads. Inform neighbors, relatives, and acquaintances of your intentions, stick a notice on the information board nearest to the site. But the maximum number of views is gained by ads on the Internet.

I recommend not to post ads on all real estate sites in a row. It is very likely that you will forget your login information and receive calls from customers for a couple of years after the sale.

Alternatively, you can get a separate SIM card and indicate its phone number in ads, but a second phone is not always convenient. It is enough to submit one ad for the sale of a land plot for free on the Avito.ru website, and it may also be on the largest regional website.

To create an effective ad you need:

Take 5-10 photos: the site itself, pillars with light, gas shielding devices, roads, houses in the neighborhood, etc.

Indicate in the ad text: ownership, availability of communications, list available documents, area, length, width, and cadastral number of the site;

Don’t write about obvious things and don’t use stamps like: I don’t want to sell, but I have to; beautiful place; you will not find cheaper; urgently; bargain;

Confirm any information with facts. For example, instead of: “Gas will be coming soon”, write: “Gasification under the Federal Program in 2017. When the gas is supplied, I will sell at a higher price ”;

Add the phrase: “The plot is ready to build” if it is.

Your task is to hook the buyer with photos, convince them to make a call with text, and agree on a show during the conversation. The more impressions there are, the faster the sale will be. 

Step 5 – take a deposit from the buyer (important)

So, you’ve answered 20-30 phone calls, made 5-10 impressions and found a buyer. But the matter does not end there – you need to fix the readiness of the new owner to purchase, that is, take a deposit from him.

I recommend taking a deposit as soon as possible. These can be questions from the buyer about the date of registration; end of bargaining, or verification of documents. Record a deposit of at least 5-10% of the value of your site in writing. To be convincing, use the extract from the USRN, which I mentioned at the very beginning. 

Taking a deposit in time, you get insurance against “dismount”. Buyers of real estate from estate agents tend to wake up the next day and change their mind, but if a deposit agreement is signed, then they have no right to return the deposit. However, you also undertake the obligation to return the deposit in double size in the event of the sale of the land to a third party.

After the deposit, agree on the date of the transaction, and the conditions for the transfer of money – 2-3 days for the preparation of documents will be quite enough. They expect each other, for example, to receive money for the buyer, as a rule, no longer than a month. I would avoid longer terms.

Cons of self-selling

  • Communication with inadequate buyers;
  • Waste of time for displaying the land plot;
  • Personal responsibility for the preparation of documents.

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