You have decided that your plans have changed and you will not be building your dream house on your lake lot, so might as well sell it. A very common scenario today, unfortunately. Buyers are starting to come back to the secondary lake property market, so your timing is good. Howver, just hiring a realtor and putting a For Sale sign up (if even allowed in your development) is not going to get your lot sold. Here are some preliminary steps to be taken to get your lot ready to be put on the Market:
- Hire a realtor who specializes in lake property, not a realtor who sells houses in traditional suburban developments and has a couple of lake listings as well.
- Provide a survey if you have it, or find a way to get a copy
- If your lot lines and corners are still marked, great! If not, you must spend the $300+ for a re-survey and make sure the corners are marked. If you don't know where the corners are, how do you expect a realtor and prospect to figure it out? I recommend metal stakes at each corner, and then cut a PVC pipe to length to go over each stake....you must make sure your landscape guy can see the stakes and not run them over with his bush hog!
- Speaking of bush hogging, how does your lot show from the curb? Is it mostly clear, maybe a little brush, but open so someone can walk the lot and see how it lays? Are there some down trees that need to be cut and removed (or at least stacked) and no high grasses that are perfect hiding grounds for chiggers, ticks and other bugs that like to bite? Remember....if you were selling your house, you probably know that curb appeal is very important for the first impression....your lot is no different!
- Be sure to maintain the great looks of your lot on a regular basis!
- Identify your lot. Paint your lot number (or address) on the curb. It is near impossible to find vacant lots in developments, especially if no For Sale signs are permitted. Help the realtor and prospects out by identifying your lot. If no For Sales signs are permitted, a small sign with your name and lot number, and hometown would be adequate, but have it printed up professionally!
- Forget that you own the lot....now drive by, stop, walk the lot, check the views, etc, and ask yourself if you would buy the lot again based on how it looks. If the answer is no, then figure out how to accentuate the best features of the lot so that the answer becomes YES!
- Check your competitors in the area for more ideas on how to show your lot (or ideas on what not to do!)
- You are now ready to list your lot with a high level of confidence that it will show well. But how much to list it for is a topic for another blog!