10 Ways to Sell Your Land Faster in Minnesota

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10 Ways to Sell Your Land Faster in Minnesota
By

Bart Waldon

The North Star State is home to over 10,000 lakes, making Minnesota a natural paradise. And with its vibrant metro areas and charming small towns, the Land of 10,000 Lakes has been attracting new residents in droves. If you own vacant land in Minnesota but are struggling to sell it, we understand your frustration. Selling land often requires patience and diligence. Luckily, we’ve helped dozens of landowners successfully sell their land in Minnesota over our years in the real estate business. Read on for our best expert tips to finally get your property off your hands.

Selling land in Minnesota is never easy, but it doesn’t have to be an impossible task. By following the creative, practical ways in our guide, you’ll learn new techniques tailor-made for the Minnesota real estate market that can dramatically reduce the average 1-2 year selling period for vacant land. Whether in the Twin Cities or greater Minnesota, our innovative approach puts sellers first, so your beloved acres end up in the right hands. Let's dive into the top 10 proven ways to sell your land faster in the North Star State!

10 Tips to Sell Your Land Faster in Minnesota

Leverage Local Knowledge

Your first step is getting to know the Minneapolis-St Paul area counties or your specific region to accurately gauge demand. Minnesota has over 5.6 million diverse residents, so pinpointing an exact buyer is difficult without understanding localized trends.

For properties within driving distance of The Cities, research metro neighborhood development plans to identify new housing projects, commercial zones, or parks where your land would appeal to builders or developers. Connect with real estate professionals tuned into the current appetites of private Minneapolis homebuilders and St. Paul re-development firms.

In rural places, join township or county planning meetings to learn where new residential neighborhoods, industrial areas, or recreation spaces are slated to support growing populations. Analyze regional land transactions for the past 2-3 years to detect rising investor interest in comparable parcels, which signals an opportune time to list.

Tapping insider views of development initiatives and investment migrations unique to Minnesota provides key insights into pricing strategy and buyer targeting. Relying solely on MLS listings or national land sale reports often misses indicators influential to local markets.

Price Competitively From the Start

Overpricing your Minnesota property based on an inflated appraisal or unrealistic lot value assumptions deters serious buyers. And each day a listing sits publicly, sellers lose negotiation leverage. If land isn’t attractively priced from day 1, it lingers unsold as markets shift.

Vacant land especially carries higher risk for owners because its value largely depends on surrounding developments. Set your price at the lower end of expected value to account for unknowns - you can always go down in price later but rarely up. This makes an offer more tempting. Buyers research sales of comparable land parcels to inform their perception of fair market value, so stretching beyond recent trends in your area invites lowball counters.

Also consider concessions like owner financing terms and closing cost contributions to attract buyers wary of overpaying on undeveloped land. While profit potential matters, flexible payment options can motivate quicker decisions.

Highlight Unique Attributes

Don’t rely solely on basic plat maps and legal descriptions to showcase your land parcel virtually to potential buyers. Creative multimedia marketing showcasing special property aspects piques buyer interest more than dry county records.

For wooded acreage, capture tree varieties, potential harvestable timber, and natural features like ridge outlooks or stream beds via detailed drone footage and infrared mapping. Showcase contours perfect for an executive home with sunset views.

Highlight acreage prime for agricultural build-out with aerial photography displaying fertile soil content, drainage advantages, and close proximity to grain storage and machinery co-ops.

For land near suburban development, create annotated renderings envisioning neighborhood build-out potential with available utility access and infrastructure accounted for. Buyers want to see beyond legal boundaries to imagined possibilities.

​​Leveraging unique traits of your land not only attracts more buyers but justifies premium pricing to cover augmented marketing expenses

Utilize Land Contract Terms

Constructive land contracts allow buyers to spread full purchase payments over longer periods while letting you retain title until paid in full, unlike traditional mortgages. This appeals to budget-minded buyers unable secure normal financing for undeveloped land which banks consider higher risk.

Advertise flexible owner financing terms like 10-20% down payments, reasonable amortization timelines, and installment structures on listings to tempt buyers wary of over-extending yet confident in eventual development plans. Be transparent about required progress milestones for improvements as part of the contract to prevent land staying idle.

Of course properly vet buyer resources and track installment payment records to minimize default risk, plus research state statutes governing land contract rescission procedures should that occur. But used judiciously, accommodating contracts spur quicker sales by expanding buyer eligibility.

Divide Parcel into Lots

Slicing larger land tracts into segmented hectares with defined boundaries tailored to various buyer needs captures more market interest than single sweeping acreage. Targeted lots enable both residential homeowners seeking more modest lots alongside investors planning commercial builds or agricultural ventures on sizable spreads.

Moreover segmented parcels enable buyers to bid on specific portions rather than forcing all-or-nothing proposals many can’t finance. However consult local officials first about development restrictions, allowable splits based on zoning codes, and permitting requirements which vary by county. Also factor in easement access to each section and territorial buyer dynamics when mapping potential divisions.

Lot segmentation does require upfront legal and engineering expenses for surveys, site planning, and subdivision filings. But offering divided land options can exponentially widen your buyer pool versus keeping property whole.

Advertise Across Multiple Listing Platforms

While the Minnesota MLS network offers wide visibility to listed properties digitally searchable by real estate agents, don’t limit marketing reach to only these traditional channels. Expand efforts across specialty land brokerages, national land listing sites, plus innovative real estate marketplaces now attracting younger digital-savvy buyers.

For example, Lands of America and Land and Farm complement MLS listings with added western US and Midwest audience exposure. Facebook Marketplace and Craigslist offer free listings leveraging populous platforms buyers readily browse for real estate.

Dedicated land buyer firms also purchase inventory for their investor networks off-market so contact them directly about your parcel even if already listed publicly through an agent. This multiplied exposure across peer-to-peer forums, major listing portals, niche land networks and direct buyer outreach noticeably boosts viable buyer traffic to your property.

Spotlight Through Drone Videography

Stationary photographs poorly convey the scope and contours of acreage as effectively as sweeping drone videography and 3D walkthroughs, yet many land listings remain stuck in 1990s print advertising. Leverage modern aerial HD footage with customized editing to spotlight stunning vistas, intriguing topographical shapes and spatial potential that static pictures obscure.

Splice these dynamic clips into YouTube previews buyers instantly comprehend versus deciphering raw plat data. Piggyback immersive video content across your social media marketing channels with geolocation tagging to attract localized buyers casually browsing rather than house hunting.

Set your land apart with cinematic production value resonating with digitally-native buyers accustomed to digesting information via rich multimedia. Viral interest builds demand so budgeting for professional drone videography pays off.

Offer Owner Financing To Qualified Buyers

Construction loans for land development remain scarce as lenders classify vacant properties high risk collateral. Yet many investors and builders possess capital to eventually improve land but struggle with short-term financing hurdles. This reality deters buyers who demand immediate bank mortgages at the expense of creativity.

Bridge the gap by offering owner financing packages to capable buyers who agree to defined improvement timelines and milestone checkpoints. For instance require permitting submissions within 12 months then completed foundations within 24 months to retain financing eligibility. You validate construction plans beforehand and recoup principal & interest payments as work progresses.

Owner financing does carry risk, so vet buyer resources carefully beforehand using credit checks, business plan reviews and collateral assessments to confirm wherewithal to fulfill agreements. But used judiciously, this strategy attracts buyers otherwise frozen out of land deals and appreciates values through planned development.

Recruit a Knowledgeable Land Agent

Attempting a FSBO (For Sale By Owner) land transaction to avoid paying agent commissions might seem logical but usually proves pennywise and pound foolish. The nuances of land deals require experience that only specialized brokers provide. Rarely do sellers have the time and expertise to properly:

  • Accurately price land for localized values beyond tax assessor opinions
  • Attract qualified leads by networking with trenched construction firms
  • Distinguish buyer “lookie-loos” from genuine investors
  • Negotiate intricate contract terms favored by land flippers
  • Oversee closing processes familiar to land brokers

Paying a few thousand at closing secures hundreds of thousands in sales price optimization that DIY attempts lose through costly mispricing, unqualified buyers, concessions, and procedural delays. Land pacts carry more intricacies than typical homes warranting a specialist guiding your success.

Be Flexible With Closing Timelines

Impatient sellers rushing to offload land fast often regret accepting fire sale offers well below optimal value. Yet unwaveringly sticking to rigid selling timelines also discourages buyers unwilling to meet arbitrary deadlines. Find balance by indicating motivation without desperation.

Openly communicate personal timing goals for receiving purchase proceeds but demonstrate willingness to align with buyer construction schedules if they propose reasonable payment plans. As an act of good faith, suggest closing date ranges you find amenable rather than dictating ultimatums. This flexibility fosters cooperative deal-making.

With sizable land parcels and extended development runways, buyers appreciate sellers tolerating aligned contingencies. Still protect yourself by documenting expectations clearly within purchase contracts should delays ever require mediation.

Final Thoughts

Selling vacant land in Minnesota demands strategic planning and innovative marketing versus simply listing a parcel then hoping some random buyer pays top dollar. By applying techniques tailored specifically to the MN land sales ecosystem such as leveraging insider local intelligence, accentuating unique property attributes via multimedia listing content, and offering flexible owner financing options, you attract more qualified buyers willing to pay fair market value within your required timeframe.

We hope these creative ideas help you finally sell your Minnesota land faster than average. Let our proven land sale strategies guide your planning and positioning so you can confidently achieve satisfaction knowing beloved acres end up in good hands with buyers that appreciate the land as much as you have for years. The North Star State offers boundless natural beauty so see your legacy reflected in how future owners steward the land you've nurtured thus far. Their plans start with your wisdom passing the torch.

Frequently Asked Questions (FAQs)

Who is the fastest buyers of land in Minnesota?

While independent buyers may be interested in your property, larger land investment companies likely have more experience streamlining purchases. They have ready capital and an existing pool of end-buyers for sites meeting their criteria. Targeting both groups expands options.

How long does vacant land take to sell in Minnesota?

On average 1-2 years for most rural or undeveloped parcels. But utilizing creative selling tactics like multimedia marketing, flexible terms and competitive pricing can dramatically shorten your timeline to just weeks or months. Be strategic.

What information do I need to provide to list my land?

Accurately document the parcel acreage, zoning classification, property lines, easements, utility access, and liens attached to the site. Highlight unique attributes via photos, maps and documentation of natural resources, views or development potential not publicly recorded.

What are closing costs for vacant land sales?

Typical fees involve title insurance, attorney/escrow charges, recording and transfer taxes which combined average 4-6% of the total purchase price plus the cost of any commissioned real estate agent involved.

Should I sell to a land buying company at discount or list openly?

This depends on your priorities - max sale price or fastest transaction. Investors pay fair market value too but close quickly, bypassing financing hurdles. Weigh options carefully around your goals. Listing publicly allows testing price levels via bids.

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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