When you want to invest in real estate, but don't have enough extra money to buy a home then you can start with land. They sure aren't making anymore of it.....lol! Land is valuable and even if you buy it and don't do anything with raw land it will still appreciate in value over time. Of course, the more improvements you do to it, the more valuable it will be.
If you own land that you are thinking of selling then start with calling me to get you in the right direction as I can advise you on the best plan of action, but getting it perc tested and surveyed something I usually do recommed. This will cost money, but it will help it sell for more money as the buyer will not have to worry about getting that done. Many times the title company will require a current survey to be done before they will close a property, so if its done on the front end then it will save you time and headache. This happens if the legal description on records needs to be updated or corrected.
Also, a buyer may write an offer with feasibility contingencies and they will hold up the process of closing, which could be months. If the land has already been perc tested and buyers know how many bedrooms it tested for then most of the time they can figure out the rest in a quicker time frame to close.
I have had clients not care about any of this when buying property as they want that piece of property for long term use or it may be close to their family so they will take the risk of the rest once they close as they don't want to hold up closing and losing out on getting that property.
We just came out of the previous buyers market with multiple bids on properties and offers over and above asking or even value. Now we are back to a normalizing market so it is much easier to get a survey company to get to it quicker than before.
If you own a lot of acreage, then consult with a Real Estate Agent in your area to consult you on what is the best approach for your situation to gain maximum value. You can sell raw land that has not had anything done to it, but you will not get as much per acre out of that land versus land that has a current survey and perc test done. If it is quite a bit of land then it may benefit you the most by getting it all split up. One acre lots sell for a lot more money per acre than a 10 acre piece of property.
A land surveyor will know how much road frontage, how many lots you can get out of the land, where easements are located, etc. They usually will have the perc test done or you may have to get that done depending on the survey company. They are familiar with every aspect that developing the land entails and deal directly with the county or city the land is located in as everyone will have to sign off on the final plat maps.
There are many different reasons for buying land.......but usually for a long term investment unless you are a builder. Some clients may only want the land and never never plan on doing anything to it, while others want it for just hunting or playing on and others want to build on it in the short or long term. Buy land and wait to either keep it, cash in on the value later or develop it!
If you are looking to buy or sell property in Tennessee then I would be happy to sit down with you to see what I can do to help walk you through the process!
Written by:
Audra Hicks ~ REALTOR, ABR, e-PRO, SRES, PSA, AHWD, RENE, HFR
Stewie says, "Mom puts the REAL in Real Estate!"
2021, 2022 Ambassador - Bluegrass Yacht & Country Club
2021 President - Women’s Council of REALTORS - Sumner County
2020 President Elect - Women’s Council of REALTORS - Sumner County
2020 Professional Development Committee Member - Sumner Association of REALTORS
2019 Hospitality Committee Member - Women's Council of REALTORS - Sumner County
2019 Education Committee Member - Sumner Association of REALTORS
Multimillion Dollar Producer
Platinum Award Winner - Sumner Association of REALTORS
Benchmark Realty, LLC
131 Saundersville Rd, Ste 130
Hendersonville, TN 37075
Cell - 615-859-1748
Office - 615-991-4949
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