What to Know Before Selling an Unwanted Piece of Land

Owning land can be a great asset, but not every property continues to make sense for the person who owns it.

Maybe you inherited the land from a family member. Maybe you purchased it years ago and never ended up using it. Or perhaps you simply do not want to keep paying property taxes on something you no longer need.

If you are thinking about selling, there are a few things worth understanding before you get started.

Find Out Exactly What You Own

Start by confirming the basic details of the property.

Look for the property address, parcel number, acreage, county, and state. Your county's property records may provide much of this information.

It is also helpful to understand whether you own the entire property or share ownership with someone else.

Check the Property Taxes

Make sure you know the current tax status of the property.

If there are unpaid property taxes or other amounts associated with the land, those issues may need to be addressed as part of the sale.

Your county tax office or other appropriate local authority can provide current information about the property's tax account.

Understand Access and Restrictions

Before selling, it can be helpful to understand how the property is accessed and whether there are known restrictions affecting its use.

Depending on the property, there may be easements, deed restrictions, zoning requirements, homeowners association rules, or other matters that affect what can be done with the land.

You do not need to become an expert in all of these issues. The important thing is to be honest about what you know and allow the appropriate professionals to verify the details during the transaction.

Gather Your Ownership Documents

If you have a copy of your deed or other documents relating to the property, keep them available.

If the land was inherited, there may be additional estate or ownership documents involved. In situations involving multiple heirs or complicated ownership, it may be helpful to speak with a qualified local real estate attorney or title professional.

Consider Your Selling Options

There are several ways to sell vacant land.

You can list the property for sale, work with a real estate professional, advertise it yourself, or explore selling directly to a land buyer.

Each option has advantages and disadvantages. Consider how much time you want to spend marketing the property, how quickly you want to sell, and what type of transaction makes sense for your situation.

You Do Not Have to Keep Land You No Longer Want

Sometimes the simplest reason to sell is that the property no longer fits your plans.

If you have been holding onto an unwanted piece of land because you are not sure where to start, taking the first step can be as simple as gathering the property details and exploring your options.

Beacon Realty Investments works directly with landowners across the United States and considers a variety of vacant land properties.

If you are thinking about selling your land, tell us about your property and see if it may be a fit.