But, if you own a recreational property, can you really sell "by owner?"

The straight-forward answer here is that yes, it's possible, but it can be tricky. Think of it this way. If you're selling your main home "by owner," chances are you're living in it. Indeed, being an occupant is just what gives you the edge. You're there to answer phone calls, to keep the property fixed up, to show it, and to negotiate with potential buyers.

Now imagine that instead of living in the home you're trying to sell, it's located 25 to 1,000 miles or more away. Even if you take a week and go there to fix it up, are you going to rush right out to show it every time a would-be buyer calls? Are buyers going to make a long distance call to ask you about the property? Distance is the rub.

Some "by owner" sellers of second homes have come up with an answer. They ask a neighbor or friend who lives fulltime in the area to show the property for them. That way, there's someone who can open up the house and let potential buyers through.

But, this begs the technical issue that showing a home for someone else could require a real estate license. Further, how willing is the friend going to be to take time out to show your place? Off-handed and resentful comments such as, "Everybody looks at this, but nobody buys," or "I think they're asking way too much," can sink a potential sale.

So what else can you do if you're selling at a distance?

One answer is to look for a discount broker in the area. Offer to pay a partial selling commission. That way you'll get a professional (hopefully) job of showing the property, yet won't pay a full commission. You can still handle the negotiations once a serious buyer is found. (Or, depending on your arrangement, the agent can do that for you, too.) Further, you may also use the agent to list your home on the MLS in the area.

The bottom line is that it's very difficult to handle a pure "by owner" sale at a distance. But modify it by using a discount broker, and suddenly it becomes quite feasible.

TIP

Bare land is a different story. Here there's not usually the problem of showing the property. Presumably, it's a lot that's easily accessed by almost anyone - after all, there's nothing on it! Would-be buyers can tramp all over sizing it up.

You can hang a "For Sale" sign on a tree or post with your phone number, web listing address and price and chances are, no matter how far away it is, someone who's interested will give you a call. The only caveat is that it often takes time to sell bare land. Waiting 6 months to two years or more for a buyer to come along would not be unusual. The good news is that buyers who do contact you about your lot are usually quite at ease buying directly from a seller.