When selling a vacant lot or piece of land most individuals can only think of 2 ways to sell it. The first way is with a sign in the yard and a real estate agent. The second way is by owner. In either case the seller wants to cash out and move on but you have other options that will increase the amount of money you’ll put in your pocket.
However there are dozens of additional ways you can sell your property without paying thousands in fees and commissions.
7 Creative Ways To Sell That Houston House
1. Selling on eBay
Selling through eBay is pretty straight forward but you might run into a bunch of tire kickers or low ball offers. Make sure you consider a local cash buyer as well.
2. Sell it via a website
Nowadays, setting up your own webpage is inexpensive and fast. All you need to do is hire a geek from some highschool and they can get it done for you for as little as a couple of hundred dollars. Then place your properties there and if you have some good content which attracts the search engines you should be able to sell your property with minimal cost.
3. Pledge your property as a down payment
If you enjoy investing in real estate then this one is probably for you. Most people don’t know this but banks will accept real estate as a down payment, it’s called pledging. This is a great way to keep cash in the bank and leverage your current real estate portfolio.
4. Partner with a developer:
If your property is a vacant piece of land located in a desirable area then partnering with a local developer is a great way to maximizing the value of the land. Small builders and investors will be very interested in speaking with you. Here at Txbuyers.com, we partner with local property owners to do just that.
5. Improving your Property:
One of the best ways to make the vacant lot more desirable is to improve but there’s a small catch. You’re going to need to be educated in this field and have the money to make the improvements. Most improvements will cost you tens of thousands of dollars. If you don’t have that type of cash sitting around then I’d find a different method to sell the property.
6. Donating the property:
If you’ve made a ton of money this year then this tactic might be for you. Check with your CPA before you go down this route but I believe you can donate a property and claim the full market value of the property as a write-off.
7. Sell the property with seller financing
Financing the sale of your property is the only way that allows you to make even more money on the sale. You have quite a few options at your discretion such as; increasing the sales price, charging a percentage for seller financing, balloon payment, and prepayment penalty.