Selling Rural Land and House

[Bird]

When we bought a 10 acre place in Navarro County, there were steel pipes driven in to the ground at all 4 corners, and the place measured out to exactly a 10 acre rectangle. I borrowed a little money from the local bank and asked the banker if I needed a survey. He said the last time he required a survey, they had 3 different surveyors survey the place and they came up with 3 different numbers.:laughing: So he said he didn't need a survey. Now when I sold it, the buyer asked when it had been surveyed and I told him I honestly didn't know. So he said he wanted a survey and I told him that was fine if he wanted to select the surveyor and pay for it. So he did. His surveyor decided the property was 2" wider at the back than at the front, so it was just a little over 10 acres.:laughing:

 

[bunyip]

Our place was an old farm that was a compulsory acquisition to make way for a bypass road (due for completion in 2003, work has not started yet), originally 90 acres with the bypass going straight through the middle, 50 acres or so subdivided into smaller lots and we got the house with 5 acres.
It had been a rental for about 10 years and was pretty run down, while we were at the auction we heard people talking about the state of disrepair and they didn't bid, as a result of this we got it for a song.
I looked past what was there and saw the potential, structurally very sound but carpets were old and torn, kitchen was 50's and no benches.
Took me 6 months to pull out all the carpet, pull out the kitchen and rebuild from scratch, all I bought was the benchtops and made everything else.
Went and bought kitchen appliances at auction, all brand new but last years model and paid about $3k instead of new price of $15k, same with the bathroom and a spa bath, rewired the place and put in a shed $20k with slab, round yard and arena.
For a bit of work and careful buying of fittings we paid just over $200k for a 'wreck' that today we could sell for about $1.4m, that is not CPI just judicious spending.
Points to bear in mind when selling or buying, I look past a bit of cosmetic tarting up and look at structural integrity, state of gutters, state of roof etc etc.
Overgrown, I don't care it can be cleaned up but in the end it depends on what your buyer is likely to be like, a good agent should be able to save you money while getting you a good price, unfortunately a lot of agents just don't care but with a little perseverance you can find one.

 

[txdon]

Since the custom house is only 7 years old it is in good shape.
So just mow a little, clear out the stuff I won't be taking with me mark the survey points and find a realtor.

 

[ustmd]

Since the custom house is only 7 years old it is in good shape.
So just mow a little, clear out the stuff I won't be taking with me mark the survey points and find a realtor.

Txdon,

Good luck. I saw the comments about getting a survey done ahead of time...I would not waste my money on that. My assumption is that you are not in a legal subdivision in Texas. Since there is a primary residence on the property and if the buyers want Title insurance (they would be idiots not to), all title companies (at least in Travis country) will require a survey to be done within 30 days prior to closing to establish the legal description of the property.


Of course, if it is an all cash sale and if the buyers don't care about title insurance, then no survey may be required.

 

[Ford850]

When we sold our previous house, I planned ahead. I took pictures of the best features in the gardens and landscaped areas during the best seasons for those plants/trees. Then when we put it up for sale, we sorted through and picked the best photos to use. Even though it was late winter season, all of our pictures showed lush green foliage, trees and plants in full bloom, crisp edged beds with fresh much, and a perfectly manicured garden full of vegetables. That all looked much better than the current dead brown landscape we get in March.

 

[buckeyefarmer]

When we sold our previous house, I planned ahead. I took pictures of the best features in the gardens and landscaped areas during the best seasons for those plants/trees. Then when we put it up for sale, we sorted through and picked the best photos to use. Even though it was late winter season, all of our pictures showed lush green foliage, trees and plants in full bloom, crisp edged beds with fresh much, and a perfectly manicured garden full of vegetables. That all looked much better than the current dead brown landscape we get in March.

Great idea.

I can't imagine moving, i have so much stuff i need to get rid of as it is. Also, i built my house myself, would be hard to leave it.

 

[MacLawn]

If I were about 49 instead of 69, I'd be wanting a small farm. Probably go belly up if I tried farming, but I just love the land.

 

[ultrarunner]

Presentation is everything. Surprised that normal painting and conditioning of house, buildings and barns is not mentioned. Most people view land as just that - a nice view.

Curb appeal with the picture postcard setting.

One of the Docs bought a farm in Oregon... he found several candidates...

His wife eliminated all but one... the others were better values in many ways.

The only one the wife considered acceptable had a manicured acre plus of pasture land with rail fencing...

To this day... he says she wanted a lawn and this was the only one that had one.... so it was looks.

 

[plowhog]

If there is a residence on the property get a pest control report, fix any Section 1 items that are called, and then have a re-inspection so you have a clear report to present to the buyer's lender.

And interview three real estate brokers that specialize in your area, and hire one.

 

[MinnesotaEric]

I know a lot of new rural land owners come to TBN after they have bought their land, so this is a good place to find out what is important when a buyer is looking for rural land.

I'm beginning to prepare my rural homestead to sell next year. This web site had 14 tips to prepare the land to sell. Do you agree with them, which are most important and what would you remove or add to the list? What was/is important to you when you were looking for your rural place?

[FONT="][I]"Here are fourteen tips for sellers of a farm, or rural property.[/I][/FONT][/COLOR]

[LIST=1]
[*][I]Keep the grass in yards, pastures, food plots, and other open areas clipped and presentable.[/I]
[*][I]If there is landscaping and beds on the property, clean them out, freshen up the ground cover with new pine straw or bark.[/I]
[*][I]Trim up trees and shrubs around the home and the barns.[/I]
[*][I]Trim up any limbs that block views, hinder travel down a road, or may be endangering structures.[/I]
[*][I]Trim fence lines and keep them looking neat. This is very important around homes, barns, and road frontages. Spray fence lines to control the overgrowth of vegetation.[/I]
[*][I]Clear off porches and the areas around a home. Any items that do not belong in that area should be placed somewhere else.[/I]
[*][I]Any farm equipment on the property should be neatly arranged and the grass maintained in that area. If there is farm equipment around barns or shed, keep it from distracting from the view of a barn or pasture if possible.[/I]
[*][I]If the property has ponds, creeks or streams: make sure that some of the water can be seen from a distance. Also make sure that the potential buyers can walk to the water. If you have ponds it is best to keep them clipped and possibly weedeat around them.[/I]
[*][I]If you have animals that can be dangerous or a nuisance during a showing, make plans for them prior to showings. A large barking dog or a horse that likes to bite can make a property difficult to show.[/I]
[*][I]Inside the home should be presentable at the showing. We understand that you may reside on a property we are marketing, just make it as neat as possible prior to a showing. Pay close attention to the area around the doors that lead into the house, kitchens, and bathrooms.[/I]
[*][I]If any of the property has trash or debris laying around, remove it as soon as possible. This includes junk and trash in barns and sheds on the property.[/I]
[*][I]If any brush piles exist, they should be burned and removed. Remember to obtain the proper permits before burning.[/I]
[*][I]If there are areas that are overgrown with brush, briars, privet, or kudzu, make arrangements to clean it up and then plant grass back in the cleared areas.[/I]
[*][I]Any areas of open dirt or fresh ground needs to have something planted on it."[/I]
[/LIST]
[COLOR=#444444][FONT="]https://www.landthink.com/tips-for-farm-and-rural-property-sellers/#comments[/FONT]


[FONT="][/FONT][/COLOR][COLOR=#444444][FONT="][/FONT]
[FONT="][/FONT]

Speaking as a real estate broker, this a good list. The seller wants to present his or her real estate is the best light. Extra chattel, disorganized junk, unkept overgrowth will lower the presentability of the RE as well as lower the ability of buyer to understand the "potential" the RE has under their stewardship.

As best as can be presented, inside and out, the seller needs everything to be neat and tidy.