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Author Topic: Tips for Selling Rural Property  (Read 721 times)
Ness
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« on: September 05, 2008, 01:31:09 PM »

Lease While You Market

If you need to sell your rural property immediately to generate income, you might want to lease it to someone else while it's on the market. This allows you to benefit financially from the land while you look for a suitable buyer, and the land becomes more attractive because it's in use. Simply draft a lease agreement with the help of your lawyer that sanctions a month-to-month contract. When you sell the property, you simply give the renter thirty days' notice.

Talk to Neighboring Land Owners


A significant acreage is sold every year by land owners to neighboring land owners. Maybe the guy who owns adjacent property is looking to expand his acreage, or maybe the couple across the street wants to use your land for a new business venture. Whatever the case, this is a good place to start because it makes the entire process easier. If no one wants it, you can pursue other avenues to sell your rural property.

Alert Developers


If you own rural property that is surrounded by commercialization, you should definitely alert developers that the property is up for sale. This is especially true if the population is increasing and land for homes, apartments and businesses is in high demand. Of course, this is only viable if you aren't worried about preserving the wild nature on your land, but it's something to consider.

Advertise on the Internet


Every year, hundreds of city-dwellers look for rural property in other cities and states, which means that your advertising must reach across the country. Just because you live in Texas doesn't mean that a business owner in New York isn't looking for rural property down south on which to build a retirement home. Make sure your property is marketed across the nation by listing it on the Internet.

Auction the Land

If you want to get the highest possible price for your rural property, ask your real estate agent to set up an auction. If the competition is high, you could wind up selling for a much larger purchase price than you would have gotten otherwise. Just be sure to set a reserve (a price below which you will not consider offers) and hire a professional auctioneer for the best results.
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Hollywood Landlord
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« Reply #1 on: August 09, 2009, 04:38:00 PM »

Ness,

Great ideas, Ness!

I just thought that I would add that you could also potential negotiate a Lease Option to Purchase.  This gives someone who may not have all the financing in place now to still use the land (for a month to month price, of course) and part of that money goes towards the down payment for a future purchase.

Anyone attempting this for the first time, should, of course, consult an attorney so both sides know what they are getting into, but I have seen this work successfully on many occasions - for home sales as well as raw land.

Stirling Gardner
Hollywood Landlord
State Specific Lease Option to Purchase Agreements and Free Rental Application.
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Stirling Gardner (aka Hollywood Landlord)
State specific legal Residential Lease agreement & Rental Agreement Forms.
Hollywood Landlord
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« Reply #2 on: May 01, 2010, 05:22:33 PM »

I thought of another idea too... you could obviously parcel off the land and lease it while you are looking for a qualified buyer.
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Stirling Gardner (aka Hollywood Landlord)
State specific legal Residential Lease agreement & Rental Agreement Forms.
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