Sometimes you get things as part of a process that you no longer need. For example, changes in the financial condition or relocation may leave you with a burial plot on your side. So, you may wish to sell it for cash. If you’re wondering how to sell cemetary plots, this article is for you.
Selling a cemetery plot requires some market research and planning to avail the right price for the property. In this article, learn everything you should know before selling.
What to Do Before Selling the Plot?
Before you plan to sell the plot, there are a few things you should get straight. Otherwise, it could land you in trouble in the future. So, to avoid any regrets, make sure to go through the following:
Take Consent from Your Family
The burial plot is likely owned by several of your family members. In the old days, people owned burial plots exclusively for their family members to avoid searching for plots when one member passed away.
So unless you own it exclusively, you must consult with your family members. This also includes distant family members with whom you haven’t had contact for years.
Discuss with them that you wanted to sell the plot. And then get a written agreement detailing their consent to sell it.
Abide By State Laws
The laws regarding burial plots differ from state to state. No single agency regulates or oversees the buying and selling of cemeteries or burial plots in the US. But in some states, there are comptroller’s offices that handle such activities.
If any such entity exists in your state, you need to register with them before putting your plot up for sale. Search for burial laws specific to your area for the details.
Inquire about the Cemetery Policy
Before selling the burial plot, you must know about the policies that govern the plot. So look for the perpetual contract associated with the said plot. Among other things, you should check if the cemetery honors private selling.
They may also have the right to buy back in case some of the policies are violated. So ask for a copy of the policy from the cemetery if you don’t have it.
Calculate the Market Value
Calculating the market value is critical to selling almost anything. In a way, buying or selling a cemetery plot is almost like buying or selling a house. You shouldn’t undervalue the plot and then sell it.
The price varies from location to location. Furthermore, there are seasonal factors that affect the rates. It’s better to work with a real estate consultant to get the exact price.
Contact the Cemetery Manager
Finally, contact the cemetery manager who oversees the transactions. Discuss with him about your decision to sell the plot and all the obligations involved. The manager might also help you find prospective buyers.
When to Sell Burial Plots?
There’s no set ideal time to sell a burial plot. It depends more on personal choices. If you’ve decided to cremate your loved ones instead of burying them, then you may want to get rid of the burial plot.
Moreover, if you hold multiple burial properties, it’s better to sell one. Managing multiple plots and paying monthly fees for each one of them will get cumbersome.
To sell the plot, you need to post an advertisement. The ad should contain your intention of selling the property, more details about the plot, the price range, pictures, and contact details. You should also list the type of burial plot you’re selling.
You can also decide to advertise in cemetery registries which will help you generate even better prospects. Moreover, they’re free or charged.
Most people who’ve never dealt with cemetery properties wonder how to sell cemetery plots the right way, and Gary P. Cubeta from Insurance for Final Expense advises them to consult with an experienced local broker for guidance.