Many people inherit land and decide to sell it, or they need to sell their Colorado property because of job relocation, divorce, a death in the family, a business closure or other life events. Others invest in raw land for a variety of reasons including hunting, fishing, farming or energy farms. Whatever the reason, selling land can be a complicated process and you’ll want to ensure that you do it right.
The first step is to find out what your property is worth. This can be done by hiring a professional appraiser to get a precise quote for your property. It is also a good idea to check out what other land in your area is selling for. This will help you set a price that is competitive with the market and will attract buyers.
Once you know what your land is worth, the next step is to prepare a purchase and sale agreement. This is the contract that will be signed by the buyer and seller to make the sale official. Unlike contracts for houses, land agreements are much simpler and usually only take up one page. A free sample contract can be found on the Colorado Division of Real Estate’s website.
Another important part of selling your land is to determine who your target audience is and how you can reach them. For example, if your land is in an urban area, you might target residential buyers or commercial buyers who are looking to build single-family homes or businesses. It’s also a good idea to check out your property’s zoning guidelines and find out if it can be rezoned for other uses.
Depending on the location of your property, you may need to hire a licensed engineer or surveyor to ensure that the land is safe to be built upon. You’ll also need to have a septic system installed if there isn’t already one in place. This can add up to a significant amount of money, so you’ll need to be prepared for the costs.
If you’re able to, it can be helpful to sell your land to a local company that specializes in buying land. This is a great way to skip the hassle of working with a real estate agent, and you can still get top dollar for your property.
If you’re ready to sell your sell land in Colorado fast, contact RM Golden LLC today. We are a local company that buys raw and vacant land and can help you close the deal quickly and easily. We can even pay you cash for your land!