FAQ

W.W. Sellers Realty

Frequently Asked Questions

Q: I always hear people refer to the size of a parcel of land in ?acres.?How big is an acre?
A: One acre is 43,560 square feet.

Q: How do I know how many acres are in my land?
A: If you know the dimensions of your property, simply multiply the parcel length by the parcel width, and divide that number by 43,560.If the dimensions are unknown, contact the courthouse in the county where your property is located, and ask the personnel in the tax assessor?s office or map room for help.

Q: How do I find/mark my property lines?
A: Property lines are often marked by surveyors with an iron pin driven into the ground at various points along the boundaries and on the corners of the parcel of land. Sometimes, however, the pins are removed or buried, or some other marker was used in the past that is no longer present, which can make property lines difficult to determine. We recommend consulting with a professional land surveyor to locate property boundaries. This can help avoid potential disputes with adjoining landowners should you ever decide to sell your property or market your timber.

Q: My neighbor built a fence that I believe is on my property.What can I do?
A: ?Encroachment? is the term used for when one person?s property (e.g. a fence, branches of a tree, etc.) cross over a property line and can affect the neighbor?s use of his/her property. It is important in this case for the actual legal property lines to be identified, and the best way is to have your property surveyed by a professional surveyor. Once a survey identifies actual property lines, you should request your neighbor to cure the encroachment (move the fence that crosses the line). Failure to do so could ultimately result in you losing your right to that property.

Q: If I use your brokerage firm to sell my land, do you represent me or the buyer?
A: In real estate brokerage, Alabama state license law allows four different types of relationships between us and potential customers:a) ?single agency? where we represent the seller, b) ?single agency? where we represent the buyer, c) ?limited consensual dual agency? where we represent both the buyer and the seller, and d) ?transaction broker? where we represent neither the buyer nor the seller, but instead act as an independent party to bring buyer and seller together.W. W. Sellers Realty will accept any of the above four relationships.

Q: I would like to sell my property, but I really don?t want to pay taxes on the capital gains income. Can I sell my property without paying any taxes on the sale?
A: Yes.A little-known provision in the Federal tax code allows individuals to ?exchange? one income-producing property for another ?similar? property and pay little or no income tax. Taxes are not permanently avoided in these transactions; rather they are deferred until such time as the last property is sold.These tax-deferred ?like-kind? exchanges must be carefully structured, and we recommend you consult with your CPA or tax attorney prior to entering into such a transaction.Our realty professionals have handled many of these like-kind exchanges and would be happy to discuss your situation with you.

Q: How do I sell my share of land that I inherited from a relative, when there are other heirs that I don?t know how to contact?
A: This is done by ?suit for division.? If the other owners will not agree to sell the land, buy your portion, or just cannot be contacted, you can petition the court to have the land sold and the proceeds divided among the owners.

Q: How can I determine how much my property is worth?
A: A common method of valuation, especially for homes, is a Comparative Market Analysis, or CMA. A ?CMA? compares your property (the subject) to nearby, recently sold properties (or still for sale) with similar characteristics (the comparables). Adjustments are made to the estimated value of the subject property based on the differences between the subject and the comparable properties. Our realty professionals can assist you in determining the value of your property.

Hunting Land For Sale Montgomery AL – WW Sellers 334-562-3227 Hunting Land Leasing Alabama Rural Land Alabama