How to Sell Inherited Land Fast in Georgia?

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How to Sell Inherited Land Fast in Georgia?

Bart Waldon

Navigating the intricacies of liquidating unwanted acreage after inheriting properties through loss or separation poses immense challenges for everyday families saddled playing amateur land broker and closing attorney executing sales themselves mid-grief. Yet government data shows over $6 billion worth of Georgia farmland alone changes hands just over the next 10 years as elder generations transfer assets to undesirous heirs in many cases. Thankfully when applying targeted digital marketing, creative purchase terms and qualified legal guidance accelerating listings, inherited land sales finish lines reach just weeks away instead of years typical. 

By proactively confirming parcel specifics beforehand then enhancing site visibility immediately attracting earnest buyers also facing lending barriers otherwise, inherited property holders regain simpler living freedoms faster through win-win deals maximizing fair values benefiting both estate beneficiaries and purchasing parties mutually. This guide shares field-tested steps simplifying sales processes effectively.

Obtain Full Property Knowledge First

Before ever advertising inherited properties for sale or discussing with any inquiry callers, thoroughly understand everything the land does (and does not) offer. This prevents misleading potential buyers with inaccuracies failing inspections later that then cancel deals after time gets wasted.

Research all recorded boundaries, total acreage, zoning designations, utility availability, roadway access paths, previous usage history and liability considerations like abandoned buildings requiring demolition, contamination remediation needs or flood zone restrictions limiting builds. The local county clerk office and chamber of commerce offer affordable background checks if previous owners left minimal paper trails for heirs suddenly.

Though tedious, completing this due diligence provides immense negotiating leverage showcasing any prep work required getting sites “shovel ready” for next owners - instantly justifying higher pricing during talks.

Quickly Establish Asking Amounts

Beyond just total acres involved – harvested incomes, mineral rights values, commercial rezoning potential and approved residential capacity supportable can greatly impact appraisals uniquely even between adjoining sites. What valuations estimation resources make determining accurate listing prices easily then?

Previous Tax Assessments

Local county records contain site valuations that while often conservative, still indicate baseline worth in government’s eyes. Any buyers must pay more than this figure at minimum generally.

Nearby Vacant Land Sale Comps

Valuations derive heavily from comparable surrounding lands use case similarities. Review sales prices over past 3-6 months guiding pricing.

Property Appraiser Consultations

Hiring third party appraisal specialists to evaluate holdings based on highest-best use cases and location strengths provides independent value targets supporting asked amounts during negotiations later with buyers ready transacting around these figures already validated externally.

Set expectations correctly from outset not wasting efforts marketing lesser desired lands worth only fractions by overestimating self-created numbers not backed by concrete external justifications.

Enhance Marketing Appearance Immediately

During the years of uncertainty settling estates, inherited sites often get neglected falling into visual disarray conveying the false impressions of distressed “as-in” projects requiring excessive rehabilitations before usable again by future owners. Overgrown fields, boundary lines no longer discernible and damaged access roads imply headaches transferred buyers must handle that then deduct from bids submitted.

Improve curb appeal and framing of land’s potential immediately through:

  • Bush Hogging/Clearing - Mow down overgrowth opening fields of view showcasing usable green spaces readily
  • Perimeter Fencing - Install poles visually conveying acreage boundaries clearly
  • Road Grading - Fill potholes repairing entry points onto sites
  • Signage - Place “For Sale” signs with contact info capturing interest from passing cars

First impressions become lasting ones. Make inherited lands appear seamless projects holistically having someone new just step right in executing ideas or additions for themselves without needing extensive rehab efforts after purchase. The more turnkey sites look upfront, the faster successful sales close at improved end pricing.

Offer Creative Purchase Terms

To exponentially widen potential buyer audiences, consider offering creative purchase terms wrapping attractive financing at reasonable interest rates without forcing new owners into risky overleveraged positions. Incentivize sales creatively through:

  • Assumable Financing - Carry existing low-interest mortgages or lines of credit over at fixed rates buyers struggle finding from traditional lending sources today. Payment responsibilities transfer to them through assumption clauses.
  • Seller Financing - Finance up to 50% of total purchase amounts directly at 6-8% fixed rates amortized over 5-10 years allowing buyers access ownership now through manageable installment repayment structures.
  • Land Contracts - Allow instalment buyers to take immediate site possession with tiny down payments while incrementally buying small ownership stakes over 3-5 years eventually holding titles after final balloon payments.

In every inherited land sale, emphasize flexibility accommodating buyers of all financial backgrounds access deals instantly that undo market Illiquidity often restricting deals getting done. Capitalize on key financing workarounds benefiting both parties.

Distribute Marketing Materials Widely

The biggest mistake limited by land inheritors make when attempting fast solo sales is failing reaching larger high-probability buyer audiences by promoting opportunities scarcely through just basic MLS listings and lawn signs alone rarely seen.

Commit marketing inherited lands aggressively through:

  • Online Classifieds - Paid ads on Craigslist and Facebook Marketplace cast wider buyer nets regionally.
  • Specialized Land Sale Sites - Leverage targeted platforms like Lands of America, Land And Farm and Land Watch visited daily by serious farm, RV and residential development investors perusing listed counties.
  • Trade Magazine Ads - Advertise in regional agriculture, timber, ranching and developer industry publications.
  • Direct Mailers - Send listing flyers to all adjacent landowners seeking additional acreage for expanded farming or compound building.
  • Weekend Open Houses - Hold on-site Q&A info sessions allowing curious neighbors dialogue asset potential and get deal comfort first-hand.

Implementing dedicated awareness campaigns like these rather than just erecting a basic “For Sale by Owner” sign and passively hoping some random sightseer shows interest makes actually selling inherited lands expediently reality using proven buyer lead generation strategies.

Be Prepared Negotiating Earnestly

Once inbound inquiries start following initial marketing pushes, inherited land sellers often field countless questions about property intricacies needing addressed satisfying buyer due diligence confirming no major red flags exist halting eventual deals.

The most serious purchase proposals also contain rough preliminary valuation estimates that while appearing theoretically fair, in reality still require further price negotiations securing top dollar.

Prepare addressing likely buyer queries ahead of time like:

  • Parcel boundary paths clarifying total acres
  • Reviewing results from surveys, perc or zoning requests
  • Explaining backstories behind any existing utility easements
  • Disclosing awareness of environmental risks like pipelines, flooding or adjacent properties
  • Justifying list prices through nearby sales comps and assessed values

Negotiate using appraiser confirmations and emotional sales framing stating wishes getting lands fulfilling better legacy purposes like affordable housing projects after decades sitting idle. Strike win-win inherits land sales deals benefiting communities too!

Line Up Closing Process References in Advance

Once inherited land deals get successfully negotiated delivering desirable sale terms that entire estate beneficiaries agree proceeding forward on, the last requirement becomes properly navigating closing sequences meeting regulated title transfer and recording protocols.

Rather than tackling these solo midstream and risk undermining great deals failing procedural awareness checks, engage trusted real estate closing attorneys early guiding sellers seamlessly through key steps judiciously:

  • Reviewing finalized purchase contracts striking acceptable prices/terms
  • Preparing required seller disclosures on properties
  • Tracking 1031 Exchange deadlines for tax deferral decisions needing made
  • Issuing title insurance policies protecting against undiscovered ownership threats
  • Filing sale deed documentation affirming legal buyer conveyances

Pay reasonable flat rate fees around $750 having reputable law partners handle filings and recordings correctly. Never DIY these critical processes without prior expertise. Enlist this guidance having inherited land sales finish lines in sight already!

Selling unwanted bequeathed land fast tracks liberating heirs from unnecessary headaches so optimizing better quality living priorities resume instead for grieving families. But dumping properties blindly on open markets desperate for whatever lowball bids appear leads leaving substantial wealth behind also that loved ones legally deserve receiving fully during difficult transitions. Follow these proven inherited land sales blueprints capturing premium values fast with minimized hassles!

Final Thoughts

Selling undesired inherited properties burdening families with unnecessary complications – especially acreage in rural regions aligning nothing aspirational - requires proactive preparation and marketing benefiting impatient heirs wanting faster exists. But methodically enhancing site visibility, expanding buyer targets through creative financing and professionally negotiating upper-tier pricing thresholds leads to properly funded estates, not deductions. Follow these inherited land sales guidelines maximizing values for beneficiaries seeking simpler futures beyond problematic assets unaligned personally now redirected benefiting new owners instead through win-win transfers closing quickly.

Frequently Asked Questions (FAQs)

What specific steps should I take preparing inherited land sales?

Confirm boundaries, usage histories and environmental risks upfront fully informing buyers later. Clean/maintain sites immediately so parcels appear readily usable “as-is” commanding higher valuations from first impressions made.

What financing options help sales of inherited lands?

Assumable low-interest mortgages, direct seller financing at reasonable rates/terms and land contracts allowing tiny down payments with gradual ownership stakes transferring over years expands buyer pools immensely.

What closing guidance should I utilize with inherited sales?

Engage trusted real estate attorneys reviewing sales contracts, guiding proper filings/disclosures and tracking tax deferral decision deadlines ensuring seamless dealer closings. DIY ways risk sinking great deals.

How do I estimate reasonable “ask” prices on inherited lands?

Evaluate previous county tax assessments, research recent vacant land sales of comparable nearby parcels and hire appraisers determining highest-best usage valuations based on location attributes. Back pricing with tangible documentation.

What are the best marketing channels for selling inherited acreage?

Paid online classifieds on Craigslist and Facebook, targeted land sales platforms like Lands of America, print ads in regional industry magazines, direct mailers to adjacent owners and weekend open house Q&A sessions. Cast wider buyer nets aggressively.

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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