New York Land: No Realtor Required

If you’re looking to buy or sell land, you can save on the real estate commission by selling your property as a FSBO for sale by owner. Learn how to successfully sell land without a real estate agent in this article.

The state of New York boasts many beautiful forests and lakes with available land for sale at affordable prices. Whether you’re looking for a site to build your dream home or a vacation getaway, New York has something for everyone. The state’s diverse geography offers opportunities for hunting, hiking, mountain biking and fishing. New York also has areas for camping, kayaking and canoeing.

As the nation’s 27th largest state, New York’s rural landscape New York Land: No Realtor Required is home to an abundance of wildlife. The state’s forests are rich with whitetail deer, turkey, geese, grouse and bear, while its lakes are filled with bass, trout, pike and walleye.

When selling land, it’s important to take into account the potential for environmental issues and restrictions that might limit how your property can be used. Obtain the necessary documentation before listing your land for sale, including a flood zone statement, septic system inspection reports, soil tests and endangered species habitat surveys. Your buyers may require these certifications as a condition of their mortgage loan, and failing to provide them could result in the loss of an offer.

Once you’ve completed the relevant research, prepare marketing materials to showcase your property’s features and promote its value. Hire a professional photographer to capture high-quality images that highlight the landscape and surrounding area, and include them in your online listings. Make sure the property’s zoning laws allow for your desired use and that there are no liens on the title.

To attract interest, price your land competitively. Compare recent sales of vacant land in your region to determine a fair asking price. If your land has unique features, such as scenic views or water access, consider pricing it higher to capitalize on these amenities.

Consider offering a buyer’s agent commission to incentivize local real estate agents to bring qualified buyers to your property. This can help you reach a wider audience of prospective buyers and expedite the closing process.

Review any offers you receive and respond promptly. If you decide to accept an offer, negotiate terms such as the price, closing date and contingencies with your buyers. Your attorney can help you draft a purchase contract that meets state requirements, including contingencies, earnest money requests and inspection timeframes.

When the seller and buyer agree on all terms, the property is “under contract.” The buyers will sign the contract and submit any required deposits. Then, you’ll need to complete the transaction by transferring ownership and completing the closing process. This typically takes 30 to 60 days. Before closing, check with your tax consultant to ensure you’ve filed any required transfer tax forms and paid any capital gains taxes.