With its breathtaking mountain scenery, southern hospitality and robust agricultural and recreational real estate market, Tennessee has long been a draw for land seekers. Selling rural acreage independently typically requires more work and decisiveness than working with a realtor, but the payoff can be substantial by eliminating commissions. Detailed preparation like thoroughly researching local market conditions, preparing and inspecting the property in person, calculating improvement costs, conducting surveys/appraisals, setting intelligent asking prices based on comparable sales, advertising broadly, vetting buyers carefully and offering creative financing terms expands the buyer pool and can shorten the timeframe to close. Timing the sale during peak season often results in faster, more favorable outcomes as well.
People sell their property Tennessee Land Sale with Land Boss for a wide variety of reasons, each influenced by their unique circumstances and goals. For many, the most compelling reason is addressing immediate financial needs. Whether it’s covering unexpected expenses, paying off debt or funding a new venture, liquidating assets via a land sale offers a quick and substantial injection of cash. Others may wish to invest their land for a greater return, or they may simply want the freedom to pursue personal aspirations, such as traveling or embarking on a new creative endeavor.
While it’s possible to sell land directly to a company that specializes in buying rural acreage, the pros and cons should be weighted carefully before taking this route. For some, the speed and simplicity of a company sale may be appealing; however, this comes at a price – often below fair market value.
The key to selling your Tennessee land for the best price lies in thorough research and planning ahead of time. Start by studying the most recent comparable land sales in your county and comparing the land to similar listings in the surrounding area. Aim to price the property 5-10% above those values, but leave room for negotiation. Also, take the time to improve your property’s curb appeal by mowing and clearing brush, removing septic systems and any dilapidated structures, and repairing any tattered fencing.
After vetting buyers and negotiating a contract, finalize due diligence items like inspections within the contracted timeline. If a buyer is arranging financing, coordinate with their lender on closing documents like deed preparation and title insurance issuance. On closing day, exchange keys, provide access and make sure that the deed has been properly recorded to complete ownership transfer.
Selling your Tennessee land is a worthwhile investment if you follow the proper steps. The key to success is partnering with a knowledgeable agent, preparing the property for sale in advance, and implementing diverse marketing strategies to reach the right buyers. With the proper preparation and perspective, you can achieve your goal of a smooth, lucrative independent sale.