Sometimes you can have way more land than you need and you would like to sell a portion of it. In this article, you will find out how to sell part of your land.
Typically anyone thinking about doing this usually owns a large parcel of land that can be subdivided into separate lots.
In terms of real estate, subdividing land is when a property owner within either the City limits or extraterritorial jurisdiction divides a tract of land into two or more parts for the purpose of sale, development, or extension of utilities to the property to be subdivided.
Additional types of subdivisions include combining legal lots and/or portions of lots into new lots by re-subdivision or adjusting lot lines between existing legal lots by amended plat.
Can I Sell a Piece of My Land If I Have a Mortgage?
You may be able to sell a piece of your land if it is mortgaged. However, you need to speak with your lender and consult with your local county before you proceed.
For Texas landowners. If you want to know more about how to sell part of your land in Texas, visit Texas Real Estate Commission (TREC)
Can You Sell Part of Your Land?
Yes, you can sell part of your land but there are laws and regulations you need to know. The easiest way to sell part of your land is if your land consists of more than one parcel.
Typically, land is sold in holdings consisting of more than one lot. But what if your land doesn’t consist of more than one parcel? You will need to subdivide.
Why would you want to subdivide your land? For most people If you’ve purchased a large parcel of land, you may consider this option to maximize your real estate resources.
By dividing a larger piece of land, you can sell smaller pieces to multiple buyers at varying prices.
Also, people subdivide so they can have families closer, create lots for housing or commercial use. Whatever the reason subdividing creates lots for you to use as you see fit.
How to Subdivide Land
The first thing you want to do before you start getting too excited about subdividing and sell part of your land. Is to check with your local county for zoning laws. The thing is the land needs to be large enough for you to be able to do it.
For example, you can’t take a 20,000 square -foot lot and subdivide it into 4 separate lots. With that said you still need to check with your count to find out about zoning laws before you do anything. Keep in mind though that some properties do not qualify for rezoning.
When dividing land, the process can be very simple or it can get pretty complex. For example, it should be pretty simple to subdivide a 10-acre lot into 2 5-acre lots. However, a 5000-acre lot into multiple lots with varying sizes could get pretty tricky.
Also, check with your title company before you begin the subdividing process. Along with the county, they can help to steer you in the right direction.
The title company can verify if you own the land free and clear or if there is an existing deed restriction or restrictive covenant in place.
Deed restriction: This is a written document that restricts or limits the use or activity that may take place on a piece of property in a subdivision.
Restrictive covenant: This is a contractual promise relating to how a piece of property can be used. The covenant will specify constraints on the specific uses of the property.
Next, we need to talk about plating.
What is Subdivision Platting?
Subdivision platting is drawings of a property done by a surveyor. Subdivision plats are specific types of documents that, when recorded, establish 1 or more new lots, street and drain rights of way, easements, and other lines of delineation on property that is divided into 2 or more parts or on a single lot.
Your plat will show the lots you want to create from the larger piece of land.
Here is a shortlist of platting companies in Texas.
South Texas Surveying Associates: South Texas Surveying Associates, Inc. has been serving the entire state of Texas for over four decades.
They have extensive experience in Harris and surrounding counties. They offer all phases of land surveying, including but not limited to ALTA/NSPS land title surveys, Category 1A Condition II surveys, residential surveys, topographic surveys, construction surveys, platting services, and elevation certificates.
Prime Texas Surveys: Your local property platting and re-platting pros at Prime TX Surveys are ready to help you establish boundary lines. Platting property is part of the development process, but sometimes re-platting service is needed to re-establish exact property boundary lines.
WINDROSE: Windrose is comprised of people who are focused, diligent, highly educated, and determined to provide outstanding professional services supported by a very high level of communication that delivers results wherever and whenever you need them.
Steps to Sell Your Land
Knowing how to sell a part of your land can get tricky. So, here are some simple steps for you to follow:
- Price Your Land correctly: This one is plain and simple. You want to make sure you price your land correctly so it can sell without sitting on the market for months. If you are selling your land by owner or without a realtor, you can cross-reference websites like Zillow and Realtor to get an idea of what your price should be. Also, be careful not to underprice it either. If you find that you are getting a lot of offers in a cold market, your price might be too low.
- Advertise to potential buyers: After figuring the price of the land, you want to start marketing it. You can either market it online or word of mouth. They are plenty of websites you can list your land for sale at no cost to you. Here are a few you can start with: Zillow, Realtor, Trulia, Lands Of America, and Land.com. You can use word of mouth to tell your friends, family, and neighbors. Your buyer might be living right next to you.
- Close the sale: Find a good attorney or title company and close the sale.
Sometimes you can have way more land than you need, and you would like to sell a portion of it. In this article, you will find out how to sell part of your land, what steps to take, and what to do if you need to subdivide your land for sale.