Owning land is pretty easy – it rarely takes a lot of effort. But when you want to sell, that can be a different story. Do you own landing and wonder, “How do I sell my New Jersey land to a developer?” At Beacon Realty Investments, we’re often asked that question so we wrote this blog post to answer it for you…
First, it’s important to know what developers are looking for
A developer wants to be able to build on the property and sell it, so they’re probably looking for property that is close to infrastructure and services (like water, sewer, power, and roads). After all, they’ll need to connect these services to their development and they’ll want people to get to their development!
It’s okay if the land isn’t serviced but developers will probably want to know how far away the services are and whether the city is actively working on those services. It’s helpful to have this information ready when approaching developers, as it shows that you understand their needs and are serious about selling your land to them.
Second, you may want to bypass the real estate agent
A lot of real estate agents tend to work with residential homeowners who are looking to buy a house to live in. If you’re wondering “How do I sell my New Jersey land to a developer?” you may need to find someone who specializes in selling land to commercial businesses. They can help you market your land to developers and navigate the complexities of selling to this market. (Alternatively, you might consider getting in touch with us to buy your land from you – we’re not developers but we do buy land. This can save you time and effort in finding the right buyer for your property).
Third, be aware of zoning
Developers will be looking to build, which may include potentially subdividing and doing additional work on the land. They’ll want to know how your property is zoned so they can anticipate the work required to build. Of course, zoning can often be changed but zoning changes will just add to their timeline and workflow so it’s helpful for developers to know up-front how the land is zoned.
Additionally, you should be aware of any restrictions or regulations that may apply to your property, as these can also affect a developer’s plans and willingness to purchase. Understanding the zoning and regulatory framework surrounding your land can help you present it in the best possible light to developers.
Fourth, be aware of the path of new construction
This one is harder for landowners to know. Still, if you’re wondering, “How do I sell my NJ land to a developer?” this will be an important consideration that the developer is thinking about: If your land is not inside a city then a developer will probably want to know if the city is growing in the direction of your land. (Even if the city is not growing toward your land, that’s okay but developers will want to know). You don’t have to know this answer yourself but if you do, that will be helpful to developers. Developers are often looking for opportunities in areas where new construction is happening or planned, as it indicates potential growth and demand for housing or commercial properties. Understanding the direction of new construction can help you position your land as a valuable investment opportunity for developers.
Selling raw land can be challenging because it’s a very different kind of buyer. But if you’re wondering, how do I sell my New Jersey land to a developer, then these 4 tips will help you.