Owning a piece of property can be an exciting experience for any person or family. But as life goes on and changes happen, there may come a time where it becomes necessary or advantageous to sell your land that has been passed down through generations. Whether you decide now is not the right time for you or whether your mind has already made up its decision, it’s important to consider the many factors that may be involved.
Though selling your land is technically much simpler than selling a home, there are still quite a few things you need to consider before going through with it. It’s an investment of time and money, but one that can benefit you in many ways if done correctly. Read on to find out more about the factors you should consider before putting up your Alberta land for sale.
Determine The Cost Of Selling The Piece Of Land
Before even taking the first step, make sure that you determine both the cost of selling your property as well as any hidden fees that come with it. There are certain expenses and costs associated with land sales that most people don’t realize until they’re deep in the midst of it. These include the attorney’s fees, surveyors, and real estate/land broker agents who work with you to sell your land.
If possible, try to contact friends or family members who have gone through the same thing before so that they can give you more insight into what it entails. If this isn’t an option, you can always look online for information from people in similar situations.
Know The Distances And Areas
The amount of land that you own typically determines its overall price in most cases. Therefore, the next step is to calculate how much your piece of property is worth if everything were put into a certain measurement. You will need this number in the latter steps, so make sure to have it handy.
As far as what measurements you should use, there are a few that you can do depending on your situation. The size of an acre is one example since this number may be more familiar to most people who live in rural areas or ranches. You can also decide to measure land in square feet which is more accurate for homes, depending on the area you live in.
Know Your Zoning Laws
If you are selling land that is zoned for particular purposes like building houses, agriculture, etc., it’s important to remember and consider what zoning laws there are so that you don’t break any laws or cause conflicts in the sale of your property. Make sure that you know what laws there are and how they apply to your land before beginning the selling process.
Prepare Your Land For Sale
The next step should be to prepare your land for sale so that it looks its best when potential buyers come to view it. This may include removing messy trees and bushes so that certain aspects can stand out more or can include simple maintenance things like making sure your lawn has been recently cut by professionals.
Some land broker agents may also recommend putting in gravel or concrete to make it look like there is already a road, which is a smart idea if you don’t have one already.
Gather Financing If Applicable
Although some of these larger land transactions are done in cash, for the ones that require financing, it is best to ensure you have secured financing. This is very important because once an offer has been made and accepted, the money for the purchase will be held by the brokerage and a lawyer would handle the transfer of funds.
Therefore, you should do your best to make sure that your finances are in order before proceeding with any offers as sometimes there may be a penalty fee for falsely making an offer.
Know Your History
One of the final steps you should consider before selling your land is knowing the history of your land. This includes any zoning laws or restrictions that may have been put on it when they were originally built as well as a list of all owners who have owned the property in the past. This could also include more unique credentials in regards to the history of the land itself and its use.
If you can remember who has owned the land and what they did with it in the past, you may be able to have a better idea of its true value as well as how likely it is that someone will actually want to buy it in the future.
This step can help prove that the land you own hasn’t been used for harmful purposes or anything else that can cause buyers to rethink their interests once they learn about it.
Are You Considering Placing Up Your Alberta Land For Sale?
Selling your land is a big decision, and there are many factors to consider before you make the leap. Are you looking for advice on how to sell your land in Alberta? Hansen Land Brokers would love to chat with you about what it takes to make this process easier. We have nearly 30 years of experience selling land in Alberta and we specialize in helping our customers get top dollar when they’re ready to sell their land!