Whether it’s relocating, settling an estate or overcoming financial challenges, sometimes life forces landowners to sell their property. A cash buyer in New Mexico can help them quickly liquidate unused land assets – yet selling to this type of investor requires careful consideration and preparation.
The first step is to determine how best to market the property for sale. Many sellers opt for hiring a real estate agent to handle marketing and sales transactions on their behalf. Others choose to self-market their Sell Your Land in New Mexico using online classified websites and social media platforms that target local audiences. When marketing a property, it’s important to include photos and detailed maps that showcase key attributes like terrain, water access, views, utility availability and zoning.
When listing a property, it’s essential to set an appropriate asking price that aligns with comparable sales in the area. A professional appraiser can help a seller establish an accurate value by taking into account factors such as location, acreage size, road access, utilities, views and existing structures. A property survey and title search are also helpful for establishing clear legal descriptions and a smooth sale process.
Before putting a property on the market, it’s a good idea to notify the lender and request a mortgage payoff statement. This enables the seller to verify that the remaining loan balance will be paid off with the proceeds from the sale. It’s also helpful to have a certified surveyor perform a land inspection to identify any issues with the property’s boundaries and/or zoning requirements.
Aside from a mortgage payoff statement, it’s also helpful to prepare other required documents for closing. This includes a Contract for Deed form, Disclosure of Lead-Based Paint (only if the property contains a home) and a Termite Report. Other documents that might be requested by a potential buyer include a survey, environmental report and property tax records.
Personal Goals: Liquidating land assets can provide a quick injection of cash to pursue personal goals. For example, a person may want to sell their New Mexico property to travel or start a new business venture. In addition, divorces can force landowners to sell their land in order to move on with their lives.
If you’re in a hurry to sell, consider working with a local “we buy land” company to purchase your property. They can typically close quickly and without a lot of hassle. Additionally, these companies often buy land at close to fair market value – while traditional buyers often require inspections, appraisals and longer sale timelines.