Selling your Alaska land without a realtor can save you thousands of dollars in real estate commissions. But it takes research, preparation and persistence to sell your Alaska property privately, including understanding the factors that affect Alaska land valuations, creatively marketing your property to ideal buyers, negotiating strategically and diligently handling all closing paperwork. With a little guidance, you can navigate the process to successfully sell your Alaska land.
Alaska land is in high demand due to its spectacular vistas and geography, ubiquitous wildlife, and recreation opportunity that is unmatched anywhere in the world. As a result, the price of Alaska land often outstrips traditional residential market prices. However, the cost of a new home in Alaska can be prohibitive for many prospective buyers and financing options are limited. Therefore, the best way to maximize your sale price is to sell your Alaska property without a realtor.
Vacant land can be sold through private listing websites, real estate agents, and even the MLS. Using a flat fee MLS service can be an inexpensive way to list your land and eliminate the real estate agent commission, which can save you 2.5-5%. However, if you want to be sure your listing is accurate and complete, consider hiring a professional real estate appraiser to perform a CMA comparative market analysis of your property. This professional will physically examine your property, note its condition, and make an objective evaluation of its fair market value.
A qualified Alaska property inspector can be helpful to both the Seller and Buyer of a remote property. An experienced Alaska inspector can inspect a home, cabin, lodge or other structure and offer insights into its condition and how to maintain it for long-term enjoyment. For example, they will look for signs of moisture or mold, leaks, structural integrity, historic failures, how the human waste system is being handled, roof condition and more.
Most sell your Alaska land without a realtor to provide a detailed FF&E fixtures furniture and equipment list of all items that are included in the sale of the property. This is because it can be expensive to haul all these items out, and it is important for the Buyer to know what they are purchasing prior to closing.
Mineral rights may be included in the sale of an Alaska land parcel or not. Regardless, it is important for the Seller to understand whether or not they have mineral rights and disclose this in their advertising. It is also a good idea to have a title company run a search on the property and provide this information to the Buyer prior to closing.
Whether you’re planning to retire, relocate, or pass on your property to the next generation, every Seller has their own reason for divesting. Regardless, transparency with respect to the Seller’s motivation for disposition is critical for creating a strong relationship of trust with the Buyer.