John Dotson planned to spend eternity at a heavenly spot in a local cemetery, 'We bought these burial plots back in 1990. After that, I really didn't think much of them for a long time.'
But life threw John a curve ball. His wife lost her job. Then, she was diagnosed with breast cancer. The monthly bills started to pile up. John sat down to plot his financial future and decided to sell his burial plots, 'The state of the economy has played a big part in our decision making and also our stress in the whole situation.'
Gregg Williamson is the President of the International Cemetery, Cremation and Funeral Association. He says a growing number of consumers are selling their cemetery space, 'In some cases, i've been told, just to put food on the table or pay their monthly mortgage.'
Others sell because they've moved or decided on cremation. Some sellers post ads on bulletin boards or in the newspaper. Others advertise online, like plotbrokers.com and americancemeteryproperty.com.
Ken Bryant, the President of gravesolutions.com has seen a 10% spike in the last year, 'It's a way of raising some cash and also it's a way for buyers who want property and don't have much money to find bargains. People sell property at a much cheaper price than what the cemetery sells them for.'
Sometimes as much as 50% less than the current retail value. Each sites works a bit differently but they all charge an up front fee. Some act like a real estate agent by overseeing the entire transaction and taking a cut of the sale. Other sites are online classifieds but give you the option of working with a broker. There's even a multiple list service, "The customer is offering a commission to anybody out there who sells the property for them.'
John went for the multiple list service, 'I originally put it in for like 2800 and then didn't get much response so i've lowered it to like about 2500.'
If you're interested in buying a plot experts say it's important to make sure the seller has the right certificate of ownership and make sure you know exactly what you are buying, 'Does it include possibility of an opening and closing? A vault? A marker? An upright monument?'
And if you feel you must sell your plot, make sure you call the cemetery and have all the paperwork you need.
