When Delaware land owners decide to sell, many choose to list properties through a professional real estate agent, typically paying the standard 3% commission. For those who prefer to avoid paying the typical brokerage fee, FSBO for sale by owner home selling can be an option. However, some FSBO sellers may be overwhelmed by the amount of work and resources required to successfully complete an MLS-listed property sale.
With some careful planning, a sell land by owner in Delaware can achieve their desired results by following these key steps:
Start with a CMA comparative market analysis. This involves looking at recently sold homes in your area of the state that are similar in size and features to yours. This will help you determine a fair asking price for your property.
Once you have a solid understanding of your property’s value, it’s time to get it listed on the MLS. The MLS is a database that centralizes property listings across the country and can be accessed only by real estate professionals and their clients. By listing your property on the MLS, it will be more visible to potential buyers in Delaware and increase your chances of finding a buyer.
Prior to listing, review all critical property documents buyers will want copies of including recorded plot boundary surveys, updated title deed history, tax certificate information and any existing usage classifications or restrictions for your property. This will ensure you are aware of any factors that could affect the final sale price or closing transaction timelines.
During the FSBO home selling process, it’s also important to be ready to answer inquiries from potential buyers. This means having a clear idea of your property’s value, and being prepared to provide detailed answers to any questions that arise. It is also a good idea to have some extra funds set aside in case you encounter any unexpected expenses during the selling process, such as renovation costs or cleaning fees.
The first 30-60 days after formally listing your property represents your best open marketplace visibility window to capture interest from qualified buyers. Take advantage of this time by preparing a comprehensive marketing plan. This should include professionally-taken photos and a virtual tour that highlight your property’s amenities.
Close the Deal
After all the marketing and negotiating, you’ve finally found a buyer for your land. To ensure a smooth transition to the closing phase, it’s wise to have attorneys overseeing the legal property documentation and prerequisites protecting respective client interests and coordinating administrative closing procedures.
If you’re a Delaware landowner interested in selling, consider working with an iBuyer like Opendoor or Offerpad. These companies offer all-cash offers and can often purchase properties within 24 to 48 hours. They can help you sell your property for a higher price and remove the hassle of dealing with real estate agents. If you’re ready to sell your property, contact a cash home buyer today for a free estimate of your Delaware property’s Fair Market Value!