Selling a parcel of land in Hawaii takes patience and diligence. From pricing issues to finding buyers willing and able to pay the asking price, the process typically spans 1-2 years before the property sells. Understanding what’s involved in a Hawaii land sale can help sellers prepare for the long journey to a successful closing.
When individuals choose to sell land by owner in Hawaii they’re often motivated to turn unwanted property into cash for personal or investment reasons. Whether a seller is struggling to keep up with property taxes or needs immediate funds to cover unexpected expenses, there are several resources available for those seeking to sell land in Hawaii without a realtor.
The first step in preparing to sell land is determining the listing price. Valuing the site accurately is critical as a high asking price can deter potential buyers and make the property seem overpriced when compared to comparable land plots that have sold in the same area. To ensure the price is right, consider requesting an appraisal from a real estate appraiser and review comparable sales on public records websites.
Once the price is set, marketing the land begins. Posting a For Sale by Owner FSBO sign on the property can generate interest, but it’s important to consider other marketing avenues as well. A website can showcase the property and provide a place for prospective buyers to contact the seller directly. Social media and other online advertising outlets can also help the FSBO land for sale in Hawaii get noticed.
Developing a comprehensive marketing strategy can take some time and effort, but it’s important to cover all bases in order to generate interest in the property. Printing fliers and posting them on community boards in town or at access points to the property can help reach a targeted demographic of local and out-of-state buyers. Adding the property to national land sales sites can also generate attention and help connect with new buyers.
If the property realizes a profit, it’s important to consult with a tax professional about capital gains taxes as well. The taxable amount is calculated based on income level and length of ownership.
Lastly, the escrow process in a Hawaii land sale can be lengthy depending on the scope of work required to transfer ownership and complete required inspections. Fortunately, working with a reputable escrow company can help streamline the process and ensure a smooth close.
Ultimately, the best way to sell land in Hawaii without a realtor is to work with a company that can purchase the property in its entirety. Companies like Land Boss buy properties directly from owners and can help speed up the process by removing the need to negotiate with multiple parties. In addition, they can manage all closing details and handle all legal aspects of the sale so that the property sells quickly and smoothly. If you’re ready to sell your land, contact Land Boss today for a free quote on your Hawaii property.