For those who may own unwanted cemetery plots, understanding how to turn that unused burial property into a financial investment can be confusing. Though it seems that selling burial property should be the same as selling anything else you may own, the sale of cemetery plots are is an entirely different kind of transaction.
People come to own unwanted burial property for a variety of reasons. Maybe you’ve relocated with no intentions of moving again, but still own a burial plot across country. Another common way to acquire unwanted burial property is having it bequeathed to you at the time of a family member’s passing. However you have come to own the unwanted property, it is important that you are aware of some common misconceptions or mistakes concerning the selling of your cemetery property.
How long does it take to sell cemetery plots?
The short answer is: forever. Burial property is unique to any other sales transaction in that though cemetery plots are in high demand, they are only sold as needed and very quickly when the demand is present. The only way to ever sell your burial property is to register it with a reputable and experienced cemetery registry. Once it’s registered, you will most likely have to wait months or even years until someone needs your property. Once they do, though, the sale will happen within a few days, so you will need to have all of your paperwork ready to go.
Where do I sell my burial property?
There are several ways to sell your burial property. Perhaps the most effective means is to register your property with an online cemetery registry. These online databases host many other cemetery properties for sale, which means they will attract the most potential buyers. Buyers won’t want to have to search hard for burial property. They will want to have several options available to them when choosing a burial lot. Having your burial lot listed with other lots will give more visibility to your property than if it was listed somewhere with few other cemetery lots.
The other advantage to having your burial property registered online is that you will have a global market potentially searching for a burial lot just like yours. More and more families are living far apart, which means that often family members are forced to try to make funeral arrangements for loved ones who are thousands of miles away. They won’t look in the classified section of your local newspaper for burial property. They will go online to try to find cemetery plots there.
A Word of Caution
When considering where online to register your property, you must be careful of Cemetery Brokers who require a listing fee plus commission on the sale of your property. These fees can become very steep, especially if they ask for advertising fees, too. Also, because it can take months or years to sell your burial property, any listing service that requires you to constantly pay to maintain your listing will quickly drain any value out of the sale price of your property. There are top quality online cemetery registries that only require one-time registration fees.
Patience will certainly be rewarded when it comes to selling your unwanted burial property. Though it could take months or years to sell your property, there are no sales taxes on the sale of your burial property, and the value of the lot will always increase over time, so your patience truly is an investment that pays.