The Process of Selling Land in Arkansas

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The Process of Selling Land in Arkansas

Bart Waldon

Over 19 million acres of land changes hands in deals across Arkansas over recent years according to University of Arkansas data – but marketing and profitably selling raw vacant land free of structures poses unique challenges for inherited or other personal rural holdings. Without a built residence, commercial facility or productive crops attracting buyers, parcels often linger for months or even years before prospective purchasers fully commit, forcing sellers absorbing unnecessary carrying costs from taxes to maintenance fees eroding sale potential.

Fortunately, alternatives exist accelerating land sales processes circumventing the struggles of traditional listing attempts which fail guaranteeing homeowners receive top dollar. Direct sale options to reputable land buying companies now operating nationally like Land Boss deliver major advantages facilitating convenient transactions at fair market prices without absorbing agent commissions deducting thousands from sale proceeds.

This guide examines key steps for successfully selling unwanted land in Arkansas, including:

  • Utilizing professional direct land buyers as a sales avenue
  • Calculating accurate pricing for your acreage
  • Detailing parcel attributes speeding sale closure
  • Marketing tactics enhancing visibility to buyers
  • Negotiating tips finalizing an optimal deal

Follow these tips accelerating your efforts transacting inherited, surplus or other land seamlessly directly to an established buyer and at highly competitive prices.

Top Reasons Landowners Look Selling Property

Before weighing methods listing land, first examine why so many Arkansas owners aim liquidating acreage each year:

Limited Strategic Value 

While raw land holds intrinsic natural value, owners often lack strategic reason retaining vacant property no supporting personal property or investment goals. Out-of-state inheritors particularly struggle pinpointing a usage rationale for unfamiliar rural parcels distant from their lives. Where there’s no clear purpose behind retention, a sale often makes prudent financial sense.

Property Tax and Maintenance Costs 

Even raw land elicits property taxes, brush clearing, trespassing prevention and other ownership costs over time without generating income. Sellers must absorb these bills waiting extended periods before traditional buyers commit. Removing this financial burden facilitates a liberating fresh start.

Complexities of Estate Planning & Inheritance

Heirs sometimes receive raw vacant acreage without clear personal interest in use complications. Facilitating inheritance transfer or simplifying estate planning to benefit other family often motivates sales.

Passive Income Potential

While land itself fails generating money absent harvesting resources or renting structures, liquid cash obtained selling enables numerous productive investment opportunities elsewhere like securities, CDs or business ventures to fund legacy wealth without demanding labor.

Seller Relocation 

If the landowner resides long term outside Arkansas, low likelihood exists personally occupying rural property someday despite natural appeal. Remote ownership strains even periodic monitoring/maintenance.

Once recognizing logical motivations prompting liquidation, next examine options maximizing sale control and profitability.

Approaches to Sell Your Land Faster 

Traditional strategies listing rural land span from time-intensive for-sale-by-owner attempts, auction events to hiring a commissioned real estate agent. However, newer avenues like direct sales to national land buying companies now unlock simpler transactions with fewer hassles at fair prices. Consider benefits and drawbacks of each approach:

FSBO Listing

Attempting a for-sale-by-owner listing demands creating marketing materials, fielding buyer queries, arranging property showings and employing DIY promotion across websites and industry trade magazines. Requires extensive effort for modest possible gain over best cash offers.

Hire Real Estate Agent

While an agent facilitates wider listing visibility than DIY attempts across MLS databases, seller still pays lofty 5-6% commissions drastically reducing net sale proceeds. Significantly longer sale times also often occur through traditional buyer representation.

Auction Sale

Auctions may move sales forward quicker and provide a set date for closing, but requires aggressive promotion attracting engaged registered bidders to prevent unreasonably low bidding. Auctioneer fees also directly cut into profitability.

Direct Sale Land Buyers

Selling directly to a trusted land buying company like Land Boss delivers by far the easiest path securing fair market value sales free of lengthy listing attempts or thousands paid in agent commissions. Reputable national buyers feature online offers, customized sale terms and nearly immediate closing dispatching payment. This convenient model is accelerating as the foremost option converting rural land into cash smoothly.

Typical Steps Finalizing Sale of Your Property

While every land sale differs based on personal factors like parcel intricacies, optimized transactions commonly incorporate certain core recommended practices:

Verify Ownership 

Officially confirm current property rights by updated deed or title documentation, ensuring legal ability to sell land free of major title defects potentially diminishing value.

Inspect Parcel Thoroughly

Conduct visual inspection of acreage noting boundary markers, water elements, foliage/timber, topography changes and access thoroughfares cataloging distinguishing attributes for listing descriptions and resolving easement questions upfront attracting buyers.

Research Comparable Sale Prices 

Investigating recent land plot sales figures for adjacent or nearby regions in the county gives clarity establishing an attractive yet appropriate asking price rooted in realistic data-driven expectations aligned to local demand.

Prepare Marketing Collateral

For DIY listing attempts, gather overhead images, plat maps and parcel details illustrating key features into a sales flyer; enroll land on industry trade listing sites highlighting your Arkansas acreage to parties actively seeking property based on geographic preferences.

List With a Vetted Land Buying Company 

Opting direct professional buyer sale channels removes extensive seller listing prep efforts while still ensuring quick purchase at competitive rates through name brand outlets aggregating demand nationwide. Pre-vetted Land Boss maintains an easy intuitive online offer platform.

Evaluate & Accept an Offer Price

With a purchase price and negotiated terms extended after thoroughly compiling property details, compare fair market valuations prepared earlier with the concrete offer to make an informed sale decision maximizing sale return.

Finalize Closing & Deed Transfer Logistics 

Once offer acceptance terms reach alignment for both buyer and seller, simply coordinate closing through a lawyer or title company to verify contract order and legal conveyance of rights via new deed filing, securely receiving payment.

Taking informed steps navigating the sales process allows maximizing productivity selling land yourself directly or via auction, but most busy property owners discover direct one-on-one land buyer companies satisfy their priorities resolving unwanted parcels faster and devoid of extensive demands and wait times.

Accurately Valuing Your Rural Land in Arkansas’ Varying Local Markets

Pinpointing acreage worth relies on multiple objective data inputs, including:

Sales Comparison of Adjacent Lands 

Analyze price per acre/size for recent vacant land transactions surrounding your parcel or region, anchoring expectations to actual sales. Adjust further gauging qualitative traits boosting or decreasing marketability relative to other lots offered in the county.

Third-Party Land Appraisal Assessment 

Hiring an accredited appraiser remains the most authoritative means receiving a fair market value estimate based on systematic comparable data modeling and accounting for more subjective influences like views that mathematically factor positively into a demonstration of property valuation for buyers. However, appraisal fees apply.

Current Tax Assessed Value

Review the per acre value your county tax assessor's office currently associates to the property for assessments. While tax appraisals typically discount against sales data, information presents a baseline reference point.

Relying on multiple indicators from this trifecta data strategy assists objectively determining pricing property to sell in suitable alignment with both buyer supply & demand in Arkansas along with defensible profit aims.

Marketing Your Land Opportunity to Potential Buyers

While direct one-on-one sales to reputable land buyers deliver unparalleled convenience and accelerate sales timelines exponentially, those selecting traditional listing or auction approaches still require amplifying parcel visibility marketing efforts attracting prospective purchasers. Tactics aiding this include:

Online Listing Sites 

Industry-specific land matching sites like Lands of America, Land And Farm and Land Watch allow buyers filtering location, size and type criteria discovering rural properties matching their acquisition interests listed across Arkansas and beyond. Minimal registration fees apply, with costs contingent upon successfully closing a sale.

Print Marketing

Running classified advertisements in Physical newspapers, industry trade magazines and real estate guides introduces opportunities reach partiality of older demographics still subscribing traditional physical media options reading about local land availability.

DIY Website Landing Page

Launching a dedicated one page website showcasing visuals of the acreage, parcel details and a lead contact form or listing agent info helps centralize marketing rather than fracturing across disparate sites. Make sure highlighting unique attributes setting property apart.

Install On-Site For Sale Sign

Placing visible signage directly on the land itself indicating sale availability and contact info enables discovering interest literally surrounding your acreage. It further signals actionable progress toward transaction disclosing active seeking of purchasers.

Tell Friends, Family and Investors 

Network personal connections who may either have interest themselves or contacts further qualified buyers through word of mouth referrals. You never know what creative financing teams or opportunists seek land investments.

The greater the volume of integrated listing information funneled to online and offline channels relevant parties may discover, the higher possibility transactions materialize. Yet direct professional buyer companies deliver confirmed buyer demand immediately with practically no seller expenditure costs or time investments required.

Why Land Buying Companies Deliver a Key Opportunity

Reputable national land buying firms add efficiency facilitating property transactions avoiding wait times accompanying listing attempts hoping the perfectly aligned buyers notices and commits valuable rural assets. Major inherent benefits partnerships with buyers like Land Boss offer include:

Immediate Transaction Ability

Rather than passively waiting for traditional purchasers materialize over months or years, established land buying companies feature online offer platforms delivering simple selling assurance instantly materializing liquidity absent the gamble.

Assured Direct Market Value Compensation 

When selling land for cash via reputable buyers, contemporary market rates get honored nearly every transaction supplying fair prices along faster exits revenue-generating or cos ownership commitments no longer wanted.

Reduced Carrying Cost Obligations

Savvy real estate selling veterans recognize time itself presents any asset’s cost. Yet land buyers absorb the taxes, utilities, maintenance and insurance burdens throughout interim periods at no cost to sellers - which accrue rapidly holding out for higher retail offers.

No Marketing or Negotiations 

Working directly with land buying companies alleviates the demands struggling attempting selling land yourself – including creating listing documents, showing acreage, and best of all eliminating mediating communications nursing along the precarious journey to closing.

Zero Commission or Fees 

Buyers assume practically of the typical real estate costs bury thousands like title company fees, legal contract drafting charges and real estate commissions up to 6 percent - easily amounting to tens of thousands on valuable rural acreage.

Customized Sale Terms 

Established buyers understand no two liquidation scenarios identical. They customize deal structures around timelines working best empowering seller priorities amidst life. This includes segmenting land parcels by lot when required.

The numerous benefits smooth transactions and higher certainty successful sales culminate fast clearly demonstrate direct buyer channels like Land Boss secure better outcomes than risky traditional listings or rate-deflating auctions.

Key Takeaways Selling Arkansas Land Parcels 

► Selling land directly to qualified buyers delivers fastest results 

► Reputable purchasers pay via contemporary market valuation

► Eliminate all marketing duties and agent commissions 

► Zero carrying costs or ownership hassles across sales timeframe

► Completely customizable contracts adapting to unique seller needs

The experienced team at Land Boss optimizes the liquidation experience providing streamlined cash offers, handling necessary paperwork and customizing sale parameters unique to personal situations. Receive a free no-obligation property value assessment by contacting us today.

Frequently Asked Questions (FAQs)

How long does it typically take to sell vacant land in Arkansas? 

It often takes 1-2 years to sell raw, vacant land plots if listing through traditional real estate agents or for-sale-by-owner on the open market in Arkansas. However, reputable land buying companies like Land Boss can make all-cash offers within days providing a vastly accelerated sale.

What documents do I need to provide when selling my land?

Primary documents include proof of clear land ownership title as well as details on the property like parcel identification number, acreage size, survey/plat documentation, inspection history, tax status, disclosures about easements or liens attached to the land etc. Qualified buyers smoothly guide you through info required.

What are closing costs associated with selling land? 

If selling land through an agent, closing costs include their commission fee which commonly falls between 5-6% of the total sale value. There may also be title transfer fees, legal contract drafting or filing fees, tax certifications and more depending on agreements. Selling to reputable land buyers means zero closing fees however.

How do I determine an appropriate list price for my land? 

Researching recent comparable land sales data for adjacent or similar nearby plots in your region/county gives a reliable benchmark on accurate per acre pricing aligned to demand supporting profitable sale goals without overpricing or undervaluing. Consider adjustments for special attributes boosting values as warranted like water access.

What happens if my land does not sell?

If your land fails to sell after an initial listing period, consider reassessing price alignment to current market rates evident through comparable regional parcel sale data or ordering an appraisal. Additionally, expand marketing channels targeting buyers known purchasing in the area or utilize a direct land buying company able to purchase unwanted lots within days.

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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