Selling a house can be a complex process, but it is often much easier to sell a piece of land. This is because the property does not have as many features as a typical home and it is therefore less complicated to evaluate, market and close on. However, this does not mean that it is always a good idea to sell a piece of land without a real estate professional.
Generally speaking, the process of selling Texas land privately is a straightforward one. This is because there are free land sale contract forms available from the Texas Real Estate Commission (TREC) that are used by private landowners. Two contracts are available: the Land Sales Contract for Vacant Land and the Platted Land Sale Contract.
To make the most money from your land Sell your Texas land privately, without hiring a real estate professional sale, it is important to correctly evaluate its value. Land has financial value as determined by the marketplace, but it also has production value as the source of food, fiber and shelter, as well as societal value for the vital ecological and biological processes that it supports. A professional appraiser can help determine the correct value of your property based on current market trends, comparable properties in the area and other relevant factors.
Once you know the correct value of your property, it is time to advertise and find potential buyers. You can do this through a variety of means such as placing a listing on the local Multiple Listing Service (MLS), social media websites or apps, newspaper listings and even by word of mouth. To make your property stand out, you should also take the time to maintain it as much as possible during this period so that it looks its best for prospective buyers.
When a potential buyer is found, it is time to negotiate. Depending on the circumstances, you may be interested in working with a professional land broker who makes their living negotiating real estate deals for clients. Alternatively, you might prefer to work with an attorney who can help answer legal questions and guide the transaction.
The closing of a real estate sale is typically conducted by a title company. This is because it is a requirement that the seller and buyer have a clear title to the property. The title company will examine all closing documents and act as escrow agent to transfer funds from the buyer to the seller.
Occasionally, the government or a private entity will seek to condemn the property of a landowner. When this happens, the condemning entity is required to pay the owner adequate compensation for his or her property. Whether the condemnation is for a roadway, public utilities or other purposes, the law is the same in Texas. A landowner can hire an attorney to assist him or her with the condemnation process.