Home Selling in Los Angeles>Question Details

Mikem, Home Seller in Los Angeles, CA

When selling a land is it better to have a survey report. What is the best way to maximize profits, without?

Asked by Mikem, Los Angeles, CA Wed Jul 15, 2009

obtaining building permits.
Regards,
Mike M.

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I have a few questions for you. Is your property zoned Residential or Commerical? That is the most important consideration when thinkig about pricing raw land. It's called "highest and best use". In other word, what use could your land have that would bring the highest return on investment.
0 votes Thank Flag Link Sat Jul 18, 2009
Hi Mike,
It is difficult to answer your question without knowing the details of location, conditions and zoning. So look at all the questions asked by Dot.
IN the city of Los Angeles, I have seen some sellers getting plans approved for construction and selling the land with the plans ready to go. These properties usually sit for a long time . I don't think that it is a good way to maximize profit You have to realize that although a plan speaks a clear language to an architect, it hardly is understood by the common people ,who on top of that have no imagination. And if you get someone creative with imagination to visualize the final product, that person will probably end up wanting something very different anyway. So obtaining building permits is usually an attractive proposition only in the event that they are very hard to get. For example , if you are in an HPOZ area , it would save the new owner a lot of time and exasperating delays. In this case, I personally think that the building permits would add to the value put on the table.

Another way to look at it is the fact that land is going to attract a certain group of buyers : investors, builders, contractors, developers etc... Taken for granted that the location, condition and price are your 3 major tools to market your property, you have to make sure that your agent will direct the marketing campaign to these groups of buyers. To put up a sign and wait for a contract to fall from heaven is not pro-active. You need an agent who will target the buyers where they are. This is a skill that not everyone understands. Your marketing strategy is very important, if you don't have one , you don't have an agent working for you and promoting your interests. An agent is a consultant and is here to guide you in making the right decision. Maybe that is the first question to answer: Do you have a good agent?
I will be happy to help, you can email at muriellevin@coldwellbanker.com
Web Reference: http://www.muriellevin.com
0 votes Thank Flag Link Thu Jul 16, 2009
Hi Mikem,

A property survey is many times required for property transactions -- except in the states of Arizona, California, and Hawaii, which are known as “plat states.” The title company provides the plat, which is a drawing of the boundaries. While the property you have may be in one of the aforementioned States, one reason you may want a survey performed is to have property markers set to help delineate the property lines.

You are not required to provide permits.

Best, Steve
0 votes Thank Flag Link Wed Jul 15, 2009
Hi, Mike M.

Edith gave an excellent answer. I would definitely get the land survey done. Part of the key in selling your land is marketing. A good Realtor will have a marketing plan in place.

What part of Los Angeles are you in? Are there any utilites that have been brought to the land? Is it on a paved street? Next to houses? Next to apartments? Flat lot? Hill lot? Flag lot?

If you would like a Los Angeles Realtor's help in listing and marketing your land please contact me.

All my best,
Dot
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Wed Jul 15, 2009
All of it, I suggest you do get a survey, so that it is clear to a potential buyer where the lot lines are. Then if you can get some information about zoning for the plat, that would be nice, you do not need the building permit, but you need to know what the zoning requirements should be...

Good Luck to you. If you need a local Los Angeles Realtor to list your property and market it for sale on your behalf let me know and I would be delighted to refer a trusted and experienced Realtor colleague to you.
Just e-mail me directly to edithsellshomes@gmail.com
Edith - YourRealtor4Life!
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0 votes Thank Flag Link Wed Jul 15, 2009
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