Land and Acreages

Land Sellers in IA

SellingLand: What You Need To Know

A look at the current listings by Top Tier Home Team demonstrates that there’s opportunity to sell both residential and farmland in the area around Cedar Rapids. While there are some similarities between selling existing homes and selling land in Iowa, there are also some fundamental differences that land sellers in Cedar Rapids, IA, should be aware of.

How Selling Land Compares With Selling Homes

Some of the steps involved in preparing farmland or vacant residential lots for sale are similar to those taken to prepare an existing home:

  • Pricing the property properly
  • Surveying the boundaries
  • Cleaning up the lot
  • Taking marketing pictures
When selling land, it is as important to determine who your buyer is likely to be as it is when selling a home. However, to determine who is likely to buy your land, it is necessary to first determine how your land is likely to be used, whether that be for agriculture, development, or building a new residential home.

 

There are challenges involved in selling land that don’t apply to selling an existing home. Generally speaking, the market for vacant land tends to be less active than the market for existing homes, which means that it is necessary to have patience with the selling process as it is likely to take more time. Selling land also requires different sales techniques than selling an existing house because there are fewer features to discuss.

What Other Specific Considerations May Apply

Farmland sellers in Cedar Rapids, IA, may have special circumstances apply to them that can further complicate the process. Here are some considerations to make about the sale of your farm property:

  • Taxation: Proper allocation of the sales price to the assets of your property will help you avoid a higher tax bill.
  • Easements: If you retain buildings or features on or near the property, you will need to arrange an easement with the buyer.
  • Binding Leases: You may wish to sell property that you lease to a third party, in which case the buyer can make an offer contingent upon the timely termination of that lease.
Another situation that often applies to the sale of Iowa farmland is that the property may be held in co-ownership as an undivided interest. If possible, it is best to obtain agreement from your co-owners before selling the property. It can complicate the matter if the co-owners are not in agreement, but at Top Tier Home Team, we can advise you of your selling options.

 

Work With Top Tier Home Team

We are highly seasoned professionals with a combined 25 years of experience in real estate. Contact us today to see how we can help with the complex process of selling land.