Time for a Change: Getting Your Ranch or Land Ready to Sell
Land is a valuable commodity, and many owners often purchase land for investment purposes. Others have been in the ranching trade for generations and are just looking to change things up during their retirement. Whatever the reason, there are several steps you need to follow when getting your ranch or land ready to sell.
It Is Never Too Early to Start
When you decide to put your land up for sale, it is vital that you prepare long before any prospective buyers show up. It even makes sense to prepare long before you meet with a broker, so they can get straight to work when they come to value the property.
There are many things to do to make your property presentable, and your broker will want to take photos and videos of the property at its pristine best. Without these, you are going to have problems selling your property.
Make Sure the Maintenance Is Done
Nothing is more likely to put off potential investors than seeing a property in a sorry state of repair, as they will not want the additional cost of fixing things. Yes, some investors do like the challenge of developing a ranch from the ground up, but this is a niche market, and you shouldn’t expect a long line of people waiting for the opportunity to buy.
Therefore, you should make sure all fences and buildings are in excellent condition and that any trash or obsolete equipment is removed before viewings. Also, make sure that the access roads are clear and not overgrown. This helps to build up anticipation in buyers and makes a favorable first impression. If buyers feel like they are driving into the jungle, then they may very well turn back around before even getting to the door.
Have Your Records Organized and Ready to Show
Regardless of what operations you do on your ranch, it is important to prepare your financial documents before a visit from the broker. For example, if you have cattle or grow crops, you need to show the inventories and production records. These will help the broker make an accurate valuation and enable the potential buyers to have a clear idea about the potential of the ranch.
Another area that you need to have accurate records on is any conservation easements, zoning rulings on areas of your property, and any mineral or water rights that your property has. All of these factors can have a significant impact on the valuation and attraction of potential buyers.
Hire a Broker
Selling a ranch is a complicated process, so hiring a broker can make the process much smoother for you and the buyer. The broker will be able to help you market the property and find the right kind of buyers without you having to do any of the heavy lifting. Also, they will be able to advise you on how to best proceed with the sale from a legal and financial standpoint.
Once you have authorized a broker to act on your behalf, it is crucial that you are available to welcome potential buyers when they visit the ranch, as they will want to get an accurate lay of the land. They will most likely have a lot of questions, so be prepared to be a gracious host when they come to look around.