Selling your horse property can be an exciting, yet overwhelming time. In starting this new chapter of your life, there are many steps to take before you actually sell your home. Because there are inevitably going to be plenty of things to do during this time, it can be easy to overlook certain items that could be helpful during your real estate journey. Here are some financial planning tips to help you get the results you’re looking for when selling your equestrian property.
Price Your Property Accordingly
This is one of the top considerations when selling your horse property so determining the proper price will take some time and research. When selling your horse ranch, there are many layers involved because not only are you selling your actual home but the large surrounding property and potentially even your horses with it. Finding the right price point for your property can be the difference between a quick sale and it staying on the market for an extended amount of time. When determining your price point, it can also be helpful to set a goal of when you would ideally like to sell your property and move out. This involves more thought because when you’re selling a horse property, you will most likely have a more complicated moving process than most, especially if you are taking your horses and equipment with you.
Find the Right Agent
When selling your horse property, you are in a unique position compared to other sellers. Not only are you selling your home or property, which comes with its own host of challenges, but you are looking for a more niche type of buyer. This is why it is imperative to find an agent that has an understanding of horse properties to ensure that you are able to yield the best possible results. A realtor can help you attract the right kind of buyers by guiding you on posting the best photos, listing descriptions, and finding the best areas to market your property in.
Finding an agent with equestrian experience can be one of the most important decisions you make when selling so be sure to take your time researching the best agents to work with for your particular situation. You might even be able to find an agent who is well-connected within the equestrian community and would know about buyers who are in the market when you are looking to sell.
Ensure Insurance Policies are Updated
When you are selling your horse property, you will want to make sure that you update your insurance properties accordingly. This is a step that often gets overlooked but is important in ensuring that both you and your property are well-protected. For example, if you have done updates on the property to get it ready to sell, you will want to ensure that your homeowners’ insurance policy reflects this so that you wouldn’t face a monetary loss if something were to happen while you still own the property.
Additionally, when you are selling and/or purchasing a new home, it is a good time to look into your life insurance policies to make sure that you have enough coverage. For example, if you are downsizing, you might not need as much insurance coverage so it can be helpful to look into the best life insurance options for your particular situation. Because your financial needs are likely to change when selling your horse property, it’s imperative that you make sure your family would be financially protected if you were to pass away.
Have Inspections and Key Paperwork Ready
A step that you could take to be more prepared to sell your property is to hire a home inspector ahead of time. This can be a worthwhile investment because it gives you insight into the issues your home has and can give you time to fix them accordingly rather than being surprised after potential buyers have their own home inspection performed. You will also want to have all of the necessary paperwork needed ahead of time so you’re not scrambling when potential buyers ask for items such as water and utility bills or mortgage statements.
Another thing to take into consideration is to have your survey done in advance so that you can present that document to all potential buyers. Having a copy of your survey ready can give prospective buyers more insight into the property and land lines and allow them to determine if there’s enough space to build any more structures they might be interested in.
Getting ready to sell your horse property likely comes with many emotions as well as a long to-do list, making this an extremely hectic time. However, ample planning can help you to get organized and better prepared to get the best results when selling your home.
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