If you’re a Nebraska landowner looking to sell, you should be aware of the many factors involved. The state’s land market works differently than the housing market, so it may take a little more patience to sell your property. However, there are certain things you can do to improve the chances of a quick sale. These include negotiating carefully and considering all of your options.
When selling land, the key to success is to understand who your target market is. Knowing who your buyer is will help you craft a story that appeals to them and drive interest. You can also consider factors such as location, whether the land has any previous development, and how close it is to other businesses and towns.
A specialized real estate agency with experience in the local market can assist you with the process. These firms can provide insight into local trends and prices, as well as advice on pricing and marketing. They can also help you navigate the complex legal requirements of a land transaction. They can also offer assistance with obtaining financing, which is often necessary for large purchases.
The price of Nebraska land sales for cash continues to rise, according to an annual survey by the University of Nebraska-Lincoln’s Department of Agricultural Economics. The statewide all-land average value of $3,835 per acre was 14% higher than the prior year. The value increase was led by cropland, pasture and rangeland, and dryland cropland with irrigation potential. Panel members cited current crop prices, purchases for farm expansion, and non-farmer investor interest in land as major economic forces driving value increases. Other positive forces included lower machinery costs, hedging against inflation, and a rebound in the use of 1031 exchanges.
When you’re ready to put your land up for sale, it’s important to set a reasonable asking price. This will help you attract qualified buyers and ensure that you don’t waste your time with unqualified ones. However, you should be prepared to negotiate if you don’t get the price you want.
To prepare for showings, you should make sure the property is clean and fenced in. It’s also a good idea to hire a professional photographer for your listing. This will help you capture the best features of your property and highlight its unique qualities. You should also make sure that you have a secure way for potential buyers and their agents to enter the property while you’re away. Investing in a lockbox is a good idea, as it will allow you to change the combination after each visit.
When you sell a property to a cash buyer, the closing costs can be less than with a traditional home purchase. Depending on the location, this can amount to a significant savings. However, you should be aware of the additional fees that may be associated with selling to a cash buyer, including attorney’s fees and title insurance. These additional fees can add up quickly, so it’s important to budget accordingly.