Do you plan to dispose off your land? This seems to be easy, but there are some major mistakes that one can make in case he is not cautious enough. That’s why it’s possible to end up either frustrated or out of pocket: from wrong decisions on pricing to legal troubles. But we are here for you and that is why we have prepared this guide that you can use to easier your way through. In addition, the team at MyPropertyMap is always ready to help you with any questions or issues you might have. So, let's dive in!
Overestimating the Value of Your Land
You might get tempted to think that your property is worth a lot – it is, after all, your piece of land. However, this is not a good idea when it comes to the asking price because emotions can easily influence this. If the price that you have set is very high, there are high chance that people will not even consider buying your house. But look at what comparable properties in your locality have gone for in the recent past. I think you should go for an assessment with some individual who can help you to determine a reasonable price. With MyPropertyMap, you have all the data and information you require to price your land right.
Underestimating the Importance of Marketing
Today, simply putting a ‘For Sale’ sign on the ground is not sufficient in any way. This means that you need to ensure that your property is seen by the right market. That means a good picture, a good description, and is easy to find on such sites as Pinterest, Tumblr, etc. You may want to advertise your land on several online platforms and also post it on social media. In need of assistance in the marketing of your property, MyPropertyMap’s marketing specialists will assist you in getting your property to the right customers.
Neglecting the Legal Side
Real estate also has legal complications such as zoning laws, rights of way, and even environmental laws when selling land. Failing to observe these may result in fines or in some cases legal lawsuits. You need to know all legal issues that are possible when you decide to sell your land. Our professionals at MyPropertyMap can help you understand the legal formalities well and make sure all formalities are met.
Hiding Problems with the Property
Every piece of land is unique—maybe there is a title problem, a survey problem, or a problem with a neighbor or the government. Indeed, attempts to cover these problems are a sure way of heading for disaster. People are more comfortable buying transparent things, and thus any hidden problems will manifest themselves during the transfer of the house. Such disclosures can help create confidence with prospective clients and, in any case, shield you against any unlawful cases. MyPropertyMap is designed to be open and clear and you can discuss all major aspects of the cooperation with the contractor.
Skipping Basic Clean-Up and Maintenance
The look and appearance are crucial in the process of selling even land. If your property is covered with overgrown vegetation or if there is a pile of debris around, it is a put-off to any buyer. This is a very effective lesson that shows that it is not very important to make the most drastic changes, but simply tidying up and making some minor changes can make a huge difference in how your land is perceived. MyPropertyMap has some recommendations on how to prepare your land for the showing.
Mishandling Negotiations
Often bargaining can be a form of a dance, whereby the buyer is in search of the best price, and you are in search of a good price. One must go to negotiations with a willingness to give some and a willingness to take some while knowing what one cannot accept. MyPropertyMap’s team is always willing to guide you on how to negotiate for the most favorable deal.
Overlooking Tax Implications
There are cases whereby taxes form a large part of the proceeds you get from your land sale. There are taxes and other charges for capital gains and all these can be very costly if one is not prepared. It is advisable to seek the service of a tax consultant before selling the commodity to establish the tax implications. MyPropertyMap has links with tax consultants who can guide you on how to pay less to the taxman.
It is, therefore, important to avoid these mistakes so that selling the land becomes easier and more profitable. Of course, you do not need to do all of this on your own – that is why MyPropertyMap is here to assist you at each stage of the process. In this section, with the help of our expert advice, helpful instruments, and insider suggestions, we guarantee a successful sale.
So, ready to get started? Partner with MyPropertyMap today, and let’s get your land sold!
