First Land Deal – Seeking Advice on Selling My Infill Lot in Portsmouth, VA

[Kyle Thomas]

Hey BP,

I’m looking for guidance on how to best approach the sale of a small infill lot I own in Portsmouth, VA. This is my first land deal, so I want to make sure I’m covering all my bases and maximizing my return.

The lot is owned free and clear, and it was originally part of a larger residential property I purchased. I’m considering either selling it outright or potentially structuring a seller-financed deal to help generate monthly income while I pay down some debt.

My questions:

1. What info should I gather on the lot to properly evaluate its value and marketability? (So far, I have the tax-assessed value, zoning code, and lot size.)
2. Are there any red flags I should watch for when it comes to selling infill lots in urban/suburban areas like Portsmouth?
3. Would it make more sense to list with a local agent, sell direct to a developer, or market to buy-and-hold investors?
4. Has anyone here structured a seller-financed land deal on a small lot? What terms worked best for you?
5. Any tools or platforms you’d recommend for marketing small urban lots effectively?

I’d also appreciate any advice on how to vet buyers or screen for serious interest, especially if I go the creative finance route.

Thanks in advance for any insight! I’m trying to learn as much as I can through this process and make a smart, informed decision.