You’re probably asking, can I sell some of my land? You can! But it’s a bit more complex than just saying yes.
Firstly, you might want to sell a tranche of your property because you need some extra money or maybe there’s a piece of your land you’re just not using. It might even be because your next-door neighbor has dreams of making their yard larger, starting a garden, or putting up a building that needs more room.
You can also contract to sell land, someone like us!
Can I Sell Part of My Land to My Neighbor?
Now, before you quickly divide your land and sell it, there’s a really basic step – look up the local zoning laws. This might sound utterly uninteresting, but it matters.
When you’re thinking regarding why selling some land appears like a good move, remember it’s appealing for a few reasons. A discerning reader may begin to register that diving into selling your property isn’t only something to do on a whim, especially considering the legal steps, such as zoning laws, that ensure everything’s marvelous on the legal side.
It is characterized by thinking through the complexities of the best move, not simply for now–but for your neighbor’s dreams and your bank account too.
If your location is under a loan, you must converse with your lender regarding what you’re planning. Splitting your land into two parts isn’t as easy as it may seem. Actually, sometimes—yet rarely so—it can get pretty tangled up with a large amount of waiting around: dealing with documents, maybe even having to sit through public meetings, and forking over fees.
Now, before you do anything crazy, make sure to call your local zoning people to check if you and the neighbor’s new patch of earth are spectacular by their rules. Also, having a professional surveyor join is vitally important; they’ll carefully check your land, drawing up a map that marks where your part ends and the other starts. You’re going to want that when you don’t want to end up arguing with the neighbor about a piece of land.
What is this splitting land phenomenon really about, you’re really just giving a new official name to the part you don’t want anymore, so you’re officially sorted to sell it off. And if the individual next door is thinking of buying your land with a loan, no is very determined and does not stop until the leadership shout a major ‘okay’. Because if that doesn’t happen, it will be very hard for them to find anyone to lend them money.
What are Other Options to Sell Land?
Selling part of your land can become really complicated. If dividing up your land into smaller pieces and selling it seems too tough, you might want to think about just leasing it out. This might be a great option if your neighbor only wants to use it for things that aren’t going to be there forever, such as gardening or keeping animals around.
Although leasing has its downsides, such as there might be rules regarding what can be done with the land, and selling it later on could become convoluted. Before you decide to carve up your property and sell a tranche, it’s key to understand that your whole property secures your mortgage. Breaking it up might change your loan rules, or you might even need to get your property looked over again to think through its new value. After you’ve received permission to split your land, the next important thing is tightening everything with a sale agreement; this is where having a real estate attorney comes in handy; they make sure that everything is correct and complete so that nothing is loose.
Perhaps of note, if all of this splitting, appraisal, and legal material sounds like a big problem, there’s an even easier road you could take. At Cash4Owner, getting your land off your hands is made extremely straightforward. If the thought of many steps makes you a little nervous, our team can either walk you through the entire process with ease or just buy your land outright, giving you a big stack of money to take with you. It’s an option worth considering if you’re looking for an easy way out.
Thinking regarding letting go of a portion of your land? Please contact us at 312-313-6600 or send an email to hello@cash4owner.com. Our team’s very easy to talk to and they’re always there to sort out your doubts or put a nice, free cash offer without making you feel trapped. Desire to see people who were in your shoes and now are very happy?
Take a look at our testimonials, they’ve become good things to show!
Why is everyone ringing regarding Cash4Owner, however, to begin with, we have seen everything all over the map-in a literal sense. Skillfully navigating those fraught zoning laws and property hoops in any of the 50 states, that’s our wheelhouse. Getting mental images of shifting through mounds of paperwork and drawing up headache-inducing surveys?
Remove that idea. We’re here using a magic spell to ensure lightning-quick sales without pulling you through the dirt. What’s better is you won’t see the phrase ‘realtor fees‘ under our roof, plus we’re paying for the closing costs all on our own.
Selling your land quickly with us is so easy, it’s almost like a lightning fast. Did you find us while quickly looking for an easy way to sell?
Fantastic.
We wait for your call.
