It can be difficult to sell a plot of land with the purpose of agricultural activities that has no cadastral measurements, the purpose has not been changed to be suitable for construction, and the situation regarding engineering networks is unclear. Or even worse case could be if you share that plot of land with co-owners, so you only sell one part. You can sell such a plot of land or part of it, but usually only for a small price compared to what you would get if you had legally arranged it and prepared it for sale. So, what do you need to pay attention to if you want to sell a plot of land?
It is very important to know what you are selling and what are the development opportunities of the land plot for sale. This not only helps to determine the adequate price of the plot for sale. Experienced real estate developers themselves use specialists to gather as much information as possible about the property to be purchased.
The purpose and method of use of the land plot may be changed sufficiently soon by order of the director of the municipal administration. In the project of formation and transformation of a land plot, it is possible to change the purpose and method of use of the land plot, as well as to divide it into separate plots, to combine two plots into one, and so on. Sometimes it is possible to change the solutions of an obsolete or unfavorable detailed plan. While this is a more complex procedure than a formation and redevelopment project, it can substantially improve a plot of land for sale.
Do not forget to check whether the land plot has prepared cadastral measurements. Also, make sure that there are no other legal issues that could complicate the sale process or subsequent land development work. One of the most problematic things for buyers is when only a part of the land is sold. In this case, the consent of the co-owners of the site will be required to initiate any building design procedures. This situation can be partly addressed by establishing a land use procedure that not only defines the exact part of each owner’s land that he will be able to use, but also discusses the procedure for granting construction or building permits for design and construction. The procedure for use must be notarized.
Ideally, it would be a separation and redevelopment project to separate a part of each plot owner from a plot of land and form it as a separate plot. An agreement between all landowners is required to prepare a formation and redevelopment project. If the co-owners of the land plot do not agree on the establishment of the procedure for use or the separation of parts of the plot, there is a possibility to resolve it through a court.
The land plot for sale could be improved by preparing the project of proposals. They show the layout of the buildings on the plot, the facades, the visualizations, the floor plans, the parking spaces, the exact building indicators, the area for sale and many other data. It is also possible to predict the basic solutions of engineering networks or to show the points of connection to them.
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