Selling your vacant land in Chicago may be more profitable and lucrative than just holding onto it, waiting for it to appreciate. While land doesn’t cost much to own, it may not gain value as quickly as you would like it to. In our latest post, we offer tips on how to sell your Chicago land quickly and for a great price!
Owning land is a relatively hands-off real estate investment. In comparison to a house, there is little maintenance or cost in order to own. Because of this, many investors will hold onto land that isn’t doing much of anything. In all reality, the proceeds from selling your land in Chicago could be put to much better use. You could spend the money on a new investment, to pay off of an old debt, or to help pay for your child’s education. Here are some tips to help you sell your land quickly and for the best price in Chicago!
Clean It Up
Unlike a house, land doesn’t require much maintenance. You won’t have to make repairs or do anything to upgrade the property before trying to sell it. However, if you are selling your vacant land in Chicago, there are a few things you can do to make it more appealing for your potential buyers. If there is an old foundation, underground tanks, or any remnants of an old structure, you may want to take the time to remove these items if the cost isn’t too steep. Leftover and forgotten structures are not only an eye-sore, but they may dissuade someone looking for a piece of land that they can build on right away.
You can clear out the brush, bushes, and trees that may impede development or look aesthetically unappealing. You can even go so far as to plant a few flowers or even a tree in a place that won’t get in the way of development. Remember, not everyone has the same taste, so it is best to keep things simple and clean.
Highlight The Potential
Give your buyers an idea of what can be done with the land. You can even go so far as to create schematics for possible homes or other types of buildings depending on your zoning. You can include financial projections so your buyers will know what they can potentially gain from the vacant land purchase. When you provide the vision and paint the picture for them, the process of developing vacant land becomes that much more appealing to buyers who may have been considering other types of investments.
Mark The Boundaries
If someone wants to see the land in person, it’s a good idea to place markers along the property lines. This allows the buyer to have a better idea of what can be done with the land. It can be tough to accurately visualize your idea for the land unless the boundaries are clearly laid out. If you aren’t sure of the exact spot where your property begins and another ends, you can enlist the help of a professional surveyor or reach out to the county to find out which maps are available that provide information about your land in Chicago.
Have The Answers Ready
When selling your vacant land in Chicago, it’s important to understand the zoning and land classification. You’ll need to know about the types of soil on the land, nearby protected plants and animals, as well as any additional building restrictions your potential buyer may face after buying your land in Chicago. You don’t want to present misinformation or miss out on a sale because you weren’t able to answer the questions quickly enough. And just like selling a home, it is important that you disclose everything you know about the land you want to sell in Chicago.
Work With A Professional
Working with a professional land buyer in Chicago is a great way to sell your land fast in Chicago without having to wait for a buyer or wonder how much you will be offered. You will not have to clean it up, research the details, or wait longer than you should have to. When you sell your land directly to Chicago Home Buyers, we are able to buy and close in just a few days, plus, we always pay fair and honest prices. Imagine being able to quickly liquidate a piece of land that isn’t doing anything for you and instead, using the proceeds on something with greater earning potential!
Are you thinking about selling your vacant land in Chicago? Before you think about calling a real estate agent or trying to sell the property through advertising of your own, find out what a direct sale will mean for you! The process is fair and may be more profitable than you might think!