11 Jun When Selling, do your Buyers Due Diligence
If you want to sell a property fast you need to get into the head of your buyers and see what the questions are they might want to have answered.
And then go and answer them before they even ask them.
What I mean is “Do your buyer’s due diligence” so you make their purchase easy.
See, people tend to be lazy. If they are interested in your land but they have a lot of questions for which they have to find out the answers themselves, chances are a lot of these buyers will just jump off and go to someone else who already has the answers listed with their property.
This is particularly true when your intent is to sell the property FAST and for Cash.
Providing these answers should actually be easy and fast.
Because when you bought the property chances are you already found out a lot of the answers to questions like:
– What are the exact dimensions of the lot?
– How much road frontage does it have?
– Does it have Water, Sewer, Electric?
– If not, how far are these services away?
– If no Sewer, what does it cost to install a septic system (Hint: in most areas between $3,000 and $4,500 for a standard Septic system)
– Can they drill a well and if yes, how deep are the water levels (the State Water Department can give you the answer to this)
– Is the lot FLAT, on a Hill (and if on a hill, are there some buildable areas on the lot)
– Are there any zoning Restrictions? (some areas don’t allow Mobile homes, and have rules that the houses need to be at least X square feet in size (1200 Sft for example).
– How far is the next town from this property?
– How far is the next Hospital/Grocery Store, Restaurants (general civilization) from the lot?
– Is the property in a Flood Zone
And not only answer these questions, but also on some where the answer might represent a problem (like the Lack of Services) give the solution to it.
Find out a small list of Septic system providers and give their contact information and get a general price quote for them, so you can right with the problem offer the solution.
Your customers will love you for it.
(You might also work out a Referral program with them so that each time you refer someone over they either give you some cash back, or after X referrals they might do something for you for free (like put a septic system in the one lot you want to keep, so you can put up the vacation home you always dreamed about…)
Therefore go and answer these questions right in your listing and you will not only sell your property faster, but you will also MASSIVELY cut down on the questions you receive on properties. You answered most of their questions, so all they have to do is make a decision “Buying” or “Not Buying”
I hope this helps,
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