Land Sale Case Study 1

Carolina Land Company was hired to sell a 80-acre recreational tract in Laurens County. The property had been inherited through several generations. As is often the case with inherited property, a survey of the property had not been done for over 50+ years.

The marketing materials for the property were developed using data sources that land brokers frequently use to identify the key characteristics of a property.  Since this property did not have a recent survey to determine the acreage, we used the acreage listed in the Laurens County GIS system, a source deemed reliable, but not guaranteed, as they clearly state every time you log on to their system.

Once the marketing package was put together, the property was put on the market. We were fortunate to have immediate interest in the property and were able to put the property under contract with a qualified buyer within 2 weeks. 

During the buyer's due diligence period, a new survey was conducted. The new survey determined that the actual acreage of the property was 70-acres, not the 80-acres listed in the county records.  Fortunately, both the buyer and seller were cooperative, and we were able to adjust the sales price on a per acre basis.  While we were able to complete the propery sale, the seller was disappointed to learn that, not only had he been paying property taxes for decades on 10 extra acres he did not own, but the total sales proceeds were not what he was expecting when he signed the purchase contract.

This same situation has happened to us several time over the 25 years Carolina Land Company has been selling vacant land in Upstate South Carolina.  That is why we always recommend the buyer have the property surveyed prior to purchasing a property, particulary when a recent survey is not available.  We also advise our clients, the Seller, that if there is not a recent survey, the actual property acreage may differ from the acreage listed in the county records.

Carolina Land Company, LLC represents Upstate South Carolina landowners in the sale of their vacant land, particularly in Greenville, Laurens, and Anderson counties.  If you have land your are considering selling, give Carolina Land Company a call at 864-232-6922 for professional land brokerage representation.