Essential Things to Consider When Selling Land in Bakersfield
From relocation to generating profits, various reasons exist for selling land. Whatever your reasons, it’s important to understand that strategic planning and a few considerations are key to selling land quickly.
Whether the type of land you intend to sell is agricultural, residential, or commercial, this article will help you understand important things to consider when selling land in Bakersfield.
Know It’s Worth
When planning to sell land in Bakersfield, you don’t want to sell it at a significantly lower price than the market value. Also, no one wants to pay for overpriced land – your property may take longer to sell. Which is why determining its Worth is indispensable.
However, there are ways to help you determine your land’s Worth.
Find Comparable Sales
Various factors such as location, size, accessibility, aesthetics, interest rates, and zoning can affect land value. However, if you know of a similar piece of land
Price comparison can be the easiest and most accurate method with the same zoning and lot size.
Find Out Zoning
In real estate, zoning entails the local government’s formal partitioning of land use in a given area. Usually, there are various categories of zoning, including:
- Residential zoning
- Commercial zoning
- Agricultural zoning
- Industrial zoning
An in-depth understanding of Bakersfield zoning laws can help you know what can be built on your land. Finding zoning also helps highlight if there was a property; if yes, the land’s value could go up as some utility connection fees may have already been catered for. But how can you find zoning in Bakersfield? It’s simple. You must only look up your Assessor’s Parcel Number (APN) on the Kern County website.
However, the most accurate method of knowing land valuation is by seeking help from an appraiser.
Other Helpful Details When Selling Land
Although not required when selling land to experienced developers like Quick Home Offers, some reports can be handy during the land-selling process. The reports include;
- An appraisal – entails an estimation of the land’s current market value.
- A land survey – helps the buyer to know the zoning of the land in question.
- Soil report – it shows the type of soil at the site
- Title report – it shows essential details such as legal ownership, past disputes, and the legal description of the land.
Hidden Costs to Consider When Selling Land in Bakersfield
In real estate, hidden fees, also known as hidden costs, are any unexpected costs that will add when selling or buying a property. When selling land, it’s important to consider expenses incurred when preparing the land for sale to include them in the actual selling price.
Some of the common hidden costs include;
- Title fees– They are a collection of costs associated with closing costs. Some title service fees include title search, title settlement, owner’s title insurance, and attorney fees.
- Permit fees involve the fee paid to the county or city to cover the expenses of processing and issuing a permit.
- Architectural / Engineering Costs – These costs are required for the design of the building to be built, and will be submitted to the county or city building department prior to starting the build.
- Utility connection fees – are expenses incurred when new connections of water, sanitary sewer, or drainage systems are installed.
- Street improvements – as a requirement by the city/ county, the hidden cost in street improvement involves the expenses incurred when constructions such as pavements and street widening are done.
Land Selling in Bakersfield Does Not Have to be Stressful
While land selling may seem cumbersome, it doesn’t have to be. Proper planning and research make the entire process smooth and fruitful.
Pro Tips: Getting multiple offers from various local developers can be helpful as it enables you to choose an offer that best suits your needs and expectations. Also, ensuring you have a legit appraisal can help you understand a fair offer.
Let the Experts Help
If you are looking for a way to sell your land in Bakersfield fast, look no further than Quick Home Offers. With years in the business, our experienced experts can give you a fair cash offer with no fees, commission, or closing expenses. If you would like to know more about our services, contact us today.