Selling Hunting Land - What You Need To Know Before You Sell
Guest Blog Post from Hunting Locator
Selling hunting land is not the same as selling residential properties. It requires a different strategy, and there are a few extra things you have to consider. If you have experience with leasing your hunting land on sites like Hunting Locator, you may be familiar with some of them, but keep in mind leasing is not the same as selling.
You want the selling process to go smoothly and successfully, but for that to happen, it’s essential to prepare the land and make it look presentable to potential buyers.
Before you can do that, you need to be aware of the land’s potential and understand its value. What determines a hunting land’s value? The answer to this question will be crucial for you if and when you get into the selling process.
Determining Hunting Land’s Value
Different factors determine the value of your hunting land. You need to grasp them all to get a full image of your property’s value before deciding to sell.
Location
First and foremost: location, location, location. This one shouldn’t surprise you. It doesn’t matter if you’re selling hunting land, farming land, or residential property; the location is everything.
The location of your hunting land has a massive impact on its overall value. Whether you like it or not, certain areas carry greater value simply due to a favorable location.
Access
Sellers and buyers often overlook this one, but it’s one of the most critical factors. Certain access routes actually add to land’s value, like a well-defined trail system or vehicle access.
Parcels that are tough to access, for example, those with no trails or landlocked parcels (those that require permission to access via the neighbor), can take a huge hit when the time for property valuation comes.
If your hunting land doesn’t have easy access, it’s definitely worthwhile hiring a dozer to make it more accessible.
Specific Hunting Land Features
There are value determining factors that are tightly bound to hunting lands. Some things can have an enormous impact on hunting land’s value, such as food plots, bedding areas, tree plantings, orchards, native cover, watering holes, ponds, etc. All these are major assets to hunting land that can significantly increase its value.
Advice For Sellers
If you’re a first-time seller, it’s only natural you may not possess all the knowledge necessary for a successful sale. Here are some tips that might come in handy.
Advertise an Experience
Remember - you’re not just selling hunting land, you’re selling a whole experience. When every visit to your parcel is a memorable experience, potential buyers are more likely to imagine owning the land.
Make It Neat
When showing the land to potential buyers, you don’t want it to be messy and hardly accessible. It’s essential that you prepare your land for showing. Remove any possible trash or junk, make sure the access roads are clearly marked, etc.
Necessary Documentation
No sale can occur without the nuisance that is documentation. Even though it’s a daunting process, gathering all the necessary documentation is pivotal. These are the documents you’ll need to finalize a sale.
1. Purchase Agreement
A purchase agreement is a document in which the buyer clearly states he/she is buying the land for the given amount, and the seller is selling it for that same amount. In case either side wishes to back out, the purchase agreement also lists the conditions upon which that can be done. If the seller requires a down payment, it should also be stated in this document.
2. Disclosure Documents
You may or may not need disclosure documents depending on the state in which you’re selling. Some states, like Kansas or Missouri, require that you disclose any known environmental hazards and defects on the land.
3. The Contract For Sale
This document has to state all the terms of the sale agreed upon by both sides. It also has to list all other documents, forms, and disclosures necessary to finalize the deal.
4. Deed
A deed is required to transfer the legal title of the property. For the sale to be completed, the deed needs to be transferred from the seller to the buyer. This usually happens at closing, but it can happen later, under certain circumstances.
5. Closing Statement
A closing statement document is necessary because it lists all the fees connected to closing, such as property tax deposits, mortgage insurance, etc.
6. Other Documents
Some other documents are not required by law, but the buyer can express the wish to include them. The buyer can ask to see a copy of your property insurance policy or perhaps a topographical map of the property with its boundaries.