10 Ways to Sell Your Land Faster in Louisiana

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10 Ways to Sell Your Land Faster in Louisiana
By

Bart Waldon

The state of Louisiana is known for its rich culture, vibrant cities like New Orleans, and beautiful natural landscapes. From the Mississippi River to the Atchafalaya Basin, Louisiana offers diverse ecosystems and an abundance of wildlife. Selling land quickly in Louisiana can be lucrative, but also challenging without the right approach. This guide will provide landowners in Louisiana with actionable tips for selling their land faster.

Tips to Sell Your Land Faster in Louisiana

Know Your Louisiana Land Market

The land market in Louisiana tends to be less competitive than other states, making it sometimes more difficult for sellers to get full market value. Understanding trends in your local parish can help set accurate asking prices. Research sales of comparable vacant land in your area over the last 6-12 months to gauge fair market value. The market for land in Louisiana sees fewer buyers from out of state compared to faster growing states. This makes localized marketing essential.

Price Your Louisiana Land Competitively

While aiming for maximum value is reasonable, setting prices too high can deter potential buyers. Price land competitively based on its location, size, vegetation, road access and other attributes. Consider pricing 10-20% below comparable plots that sold recently to spark interest. A fair price with some built-in negotiation room gets land seen by more buyers.

Highlight All Attributes and Uses

Detail your land’s best features, dimensions, potential uses and condition in listings. Note terrain, tree coverage, views and adjoining properties. Highlight documented assets like mineral rights. Disclose any easements or other encumbrances. Buyers want the full picture to gauge a property’s utility and marketability. Proactively providing details builds trust.

Advertise Beyond Basic Listings

The average “for sale by owner” listing relies solely on MLS postings and basic yard signs. Execute an expanded advertising plan to capture more prospective buyers. Start by building an eye-catching website for your land with ample visuals. Distribute listings to major sites like Zillow, Trulia and Land Watch. Post large roadside signs that highlight the location and price.

Cast a Wide Net with Local Agents

Partner with multiple local real estate agents to tap into their sphere of buyers. Even if you offer a reduced commission, many agents will show FSBO listings. Ask agents to feature the listing in digital and print advertisements for greater exposure. Utilize agent connections for faster viewings by leveraging their relationships.

Be Flexible With Viewing Options

Restrictive viewing availability can deter interested buyers from following through. Offer ample viewing times, including weekends. Be flexible to accommodate out of town buyers short on time. Virtual viewings via video chat also expand the pool. Provide detailed driving directions and land surveys when possible. Make the process smooth for easy assessing of the parcel.

Convey Clear Title and History

Verify you have clear title without encumbrances through title research. Buyers want to confirm no easements, liens judgement exist. If transferred mineral rights, disclose transfer details and ensure legal separation. Provide property surveys, recorded plot maps and permits for improvements. The more declarative records provided upfront, the fewer objections later.

Prepare Necessary Disclosures

Provide comprehensive disclosures before accepting any offer. This includes flood zone status, drainage conditions and susceptibility to natural disasters like hurricanes or tornadoes. Disclose substances like asbestos, lead paint or underground storage tanks if confirmed present. Environmental disclosures should include testing documentation. Taking this diligence off the buyer’s plate accelerates sales.

Know Tax Implications

Consult with a qualified tax professional regarding the tax implications of your potential land sale, based on factors like prior depreciations claimed, capital gains and investment profit issues. Outline your desired structure for the buyer. Learn where you have flexibility to defer taxes. A buyer is more apt to perceive full value if less taxes owed.

Consider Land Buying Companies

Selling land outright to an investment company for cash can close quicker than sellers trying to maximize at market prices. Land buying companies like Land Boss purchase land at reasonable discounted prices for quick sales. The certainty of an all-cash closing despite below market value offers appeals to many urgent sellers. Companies then market and resell land to buyers that value specific parcels. This type of quick sale serves an important purpose for both sellers and investing companies in creating market efficiency.

Selling land frequently involves complexity and patience securing the full listing price. By showcasing your land’s potential while making the sale simple for buyers, you improve the odds of faster transactions. Leverage both conventional and alternative land advertising avenues and buyers to optimize visibility and value. Consider creative yet compliant solutions to overcome any tax burdens impeding deals. Stay nimble as opportunities arise to get your Louisiana land sold swiftly.

Mistakes to Avoid While Selling Your Land Faster in Louisiana

Overpricing Land

Land tends to sell fastest when competitively priced within 10-20% of appraised values. Overpricing land claims you know better than the market. Benchmark asking prices to recent comparable parcels sold in your Louisiana parish. Pricing too high makes sellers wait years until reality sets in and they lower to actual market levels. Generating buyer interest quickly starts with reasonable asking prices.

Limited Marketing Reach

Simply posting a basic “For Sale by Owner” sign on your land and waiting is not sufficient, though a common mistake. Execute a well-rounded marketing plan leveraging print listings, major internet sites like Zillow and Land Watch, plus social media. Incorporate images and videos that emotionally connect buyers to your land parcel and its potential. Think cumulative reach across mediums.

Restrictive Viewing & Sale Terms

When buyers inquire about vacant land, seizing that moment is key. Yet many land owners restrict viewing availability significantly. They also make sale terms overly rigid to protect their interests. Land sells faster when accommodating buyer travel schedules to show parcels. Have paperwork ready to convey all disclosures upfront. Stay flexible negotiating offers to keep viable buyers engaged. Reduce red tape where possible.

The most effective land sales from start to finish make transacting smooth for buyers while positioning parcels competitively. Avoid uninformed pricing or shutting the door on initial buyer enthusiasm to fast track your sale. Patience negotiating offers with reasonable buyers can ultimately satisfy both parties’ interests.

Final Thoughts

Selling land in Louisiana has its fair share of complexities, between deciphering hyper-local values and navigating a federally impacted market. Yet optimizing a few key variables within a seller's control can make all the difference in catalyzing interest and sealing satisfactory deals. Competitive pricing aligned with parish sales data builds credibility with buyers. Multi-channel marketing provides visibility both locally and beyond through visual storytelling. Ensuring a low-friction sale process, from flexible viewings to clear title documentation, gets properties seen and understood. Avoiding missteps like overpricing or passive selling encourages more viable offers. While patience is still prerequisite, keeping these success factors in focus steers Louisiana land owners toward faster sales.

Frequently Asked Questions (FAQs)

Should I get my land appraised before listing?

Yes, professional appraisals establish fair market value based on recent sales of comparable land parcels. This better informs pricing and negotiations. Appraisals do cost $300-$500 but save money by pricing right.

What marketing outlets reach the most Louisiana land buyers?

Major sites like Zillow, Trulia and Lands of America in addition to your local MLS drive significant traffic. Targeted social media campaigns also connect sellers to more localized buyers.

How much below appraisal price should I list land for sale?

Pricing 5-10% below appraisal price typically ignites buyer activity quickly. Further discounts risk leaving money on the table. Bid activity signals if deeper discounts warranted.

Should I require certified funds for deposit money?

Requiring banker checks or wired funds for buyer deposits deters tire kickers. Certified funds validate serious buyer interest and financial capability.

What paperwork accelerates the sale process?

Having preliminary title searches, plot maps/surveys, disclosures and draft sales contracts ready for prospective buyers can accelerate deal progress.

About The Author

Bart Waldon

Bart, co-founder of Land Boss with wife Dallas Waldon, boasts over half a decade in real estate. With 100+ successful land transactions nationwide, his expertise and hands-on approach solidify Land Boss as a leading player in land investment.

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