TrueSouth Properties – Knowledge, Experience, and Professionalism
What do you need to do?
Our team is available to discuss any ideas at your convenience. Please call us at (334)-279-6311. We look forward to listening to your thoughts, wants and/or needs with respect to your real property. We will then introduce you to a TrueSouth professional, who will walk this road with you.
In the meantime…
We’ve been in the business of buying, managing, and selling properties in the South for a long time. Following are some important things to consider, based on our experiences. This is not an exhaustive list. Each item’s importance for you will vary, based on your situation. But, these are some good “starting points.”
Give yourself time – as much as is practically available
You can avoid a lot of the potential bumps in this road by taking a steady pace through the process. You may decide to sell the property by yourself/yourselves, or you will choose to enlist legal and/or real estate professionals. In either case, there are a number of steps to take the property to the market and, eventually, sell it. Although the time span varies with each property, these steps take at least a bit of time and effort – sometimes a few weeks, sometimes years. Time also allows a seller to watch market conditions and, hopefully, sell the property when prices are advantageous. Let me say that again, time allows a seller to watch market conditions and, hopefully, sell the property when prices are advantageous.
Make sure everyone is on board
Sometimes, the discussions and decisions surrounding a sale of land or other properties that have been in a family for a time can involve some strong feelings. If you are the sole owner and sole decision-maker, then this isn’t much of a consideration. But, if you have family and/or partners who will need to agree to sell (whether legally, as in signing the deed, or just because it’s better that they agree), taking the time to get a plan and getting everyone on board will help – a lot.
Set goals for price and your timetable
Your goals for price (relative to the prevailing market) are closely related to your timetable. If you have the time to put the property on the market and then wait patiently as the market learns of your property and potential buyers evaluate it, there is a greater probability of receiving a price for your property that is higher. Your chances of selling the property more quickly are increased if you are willing to accept a price that is well-within the price range of comparable properties that are selling or are for sale in your market.
Talk to your neighbors
Particularly if you are selling rural land (timberland, farmland, hunting land, etc.), some of your best potential buyers are those who own acreage that either adjoins yours or is located in the same area. This may seem very basic, but you’d be surprised how many times that neighbors are the last to know that a property is or may be available.
Consider enlisting the assistance of professionals
What I am NOT saying here is that you should hire TrueSouth to sell your land for you; although, I’m not opposed to the idea. What I AM saying is that you can save yourself a great deal of time and effort by allowing folks who work in property sales for a living to help you through the process. For sure, I suggest a good lawyer who deals in real estate regularly. With respect to land and such, particularly in rural counties, you can often find their offices across the street from the county courthouse, where they do much of their work. Of course, they are located elsewhere, too.
If you do consider hiring a real estate professional, you can find a good, honorable firm (and most are so) pretty easily.
Steps toward a successful sale
Okay, with these and other considerations in mind, what are some of the steps that you’ll need to take? Here is a pretty good list, which I’ll add to over time (in parentheses are titles of professionals who may be helpful during each step):
- Determine exactly what property you have an interest in selling (surveyors, attorneys).
- Obtain records of who, exactly, owns the property and/or has the right to sell it (attorneys).
- Ensure that all parties who need to agree to sell the property are on board with the sale (attorneys).
- Determine to whom the sale proceeds will go. Ensure that those parties understand the transaction. Make sure they understand the income tax consequences that will arise for them from the sale (attorneys, accountants).
- Research what is the highest and best use of the property and what the property is worth on the market (real estate brokers, real estate appraisers, attorneys, foresters, ag specialists).
- Determine who your target market or potential buyers will be and how best to reach them (real estate brokers).
- Reach out to your target market about the availability of the property (real estate brokers, attorneys, auctioneers).
- Negotiate the sale of the property (real estate brokers, attorneys).
- Close the sale (real estate brokers, attorneys, closing agents).
So, there’s a good summary of things to keep in mind when considering a sale of land in Alabama or Georgia.
In case you consider enlisting the help of real estate brokers and agents, this will be a good point to include the following…
Follow this link to our AGENTS page!
Or, simply call us at (334)-279-6311.