When preparing vacant land for a residential sale there are several factors which should be taken into account. Here are some things to consider. Keep in mind this is just the tip of the iceberg and it would be in your best interest to give me a call at (919) 548-1014 for a quick consultation. If you are selling land please visit my Chatham County NC land sales page.
Should this land really be sold on the residential market? As someone who specializes in land sales I can tell you that often overlooked is the possibility of selling vacant land to a developer. Many land developers are in the market for vacant land over 5 acres. Commercial buyers and real estate developers look for land in different places than the local MLS listings. Land being sold to commercial sellers is listed on commercial sites like Loopnet. You can get much more money for your land if it is sold to a developer than you will selling it as a residential lot. I work with agents from all over the USA that are looking to purchase certain properties. You do not need to rezone your land to offer it to commercial buyers, although they may make a contingent offer.
What else could this land be sold for? In Chatham County there is a strong demand for farms, farmettes, and more. Could this property be marketed as a horse farm or other equestrian facility?
Surveys. In Chatham County for instance (or anywhere in North Carolina or the US), sellers will want to have a survey done. This tells buyers exactly where the boundaries are. Potential residential buyers often want to come out and walk the land and see for themselves exactly what the land encompasses. Lenders require buyers this survey in hand to get a loan. The survey also lets potential buyers know what they can build on the property and make sure their plans for the land coincide with local regulations. Access easements, acreage verification, encroaching neighbors, etc are also all reasons why you need a survey.
Other. Every property is different. Right now, in Pittsboro, there are properties under 1 mile away from each other that are listed anywhere from $2 per square foot to $9 per square foot. Just because some land near you recently sold for X price does not mean that you should just list your land for Y price. Your land could be worth more, or less.
Select an agent. Of course I am going to promote myself here, but the same rule of thumb can be applied anywhere. Realtors or agents who have the most listings in the area are probably also closing the most deals. Some land, if being sold strictly as residential, can indeed be sold by the property owner, but again you will almost always sell your land faster and for more money with an agent like myself.