When looking to sell your home, you might find yourself leaning toward a quick, no-fuss transaction. We Buy Houses companies in New Mexico are known for making all-cash offers, which can be particularly appealing if your property isn’t in the best condition. This offers a simple solution for those who may not have the luxury of time, the knack for DIY, or the budget for renovations.
A cash sale could be your golden ticket when life throws a curveball that requires a speedy change in your living situation.
Before you decide, it’s essential to consider the pros and cons. This post will give you the essential knowledge to assess whether selling your New Mexico home for cash is the right move.
Sell Your House Fast in New Mexico With a Cash Offer
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Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of New Mexico area “We Buy Houses” companies should not be considered endorsements.
Working with house-buying companies in New Mexico
We Buy Houses companies in New Mexico typically promise to give home sellers quick, convenient all-cash offers, and exceptionally speedy closings, often wrapping up the property sale in as few as seven days. These house-buying companies have polished their processes to help sellers who need to move ASAP, and tend to target distressed homes in need of repairs.
Here’s how the process generally works:
- Contact the company: Find a reputable house-buying company in New Mexico and provide them with details of your property.
- Schedule an evaluation: The company will schedule a time to visit your home and assess its condition and value.
- Receive an offer: After the evaluation, the company will present you with a cash offer, typically within 24 to 48 hours.
- Accept the offer: If you agree to the terms, you will accept the cash offer and proceed with the sale.
- Close the deal: The company will handle the necessary paperwork and coordinate the closing process, often within a few weeks.
- Receive your payment: At closing, you will receive the agreed-upon cash amount, and the transaction is complete.
Note: Individual program details frequently change. Please visit a company’s website for the most up-to-date information. HomeLight always recommends doing your own research to determine which selling option is best for your situation.
Popular We Buy Houses for Cash companies in New Mexico
If the process of selling to a house-buying company in New Mexico sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some top companies that will pay cash for your Pueblo Revival-style property or parents’ Santa Fe-style home.
We Buy Houses New Mexico
Founded in 1998, We Buy Houses is a national home-buying network with independent franchise offices, serving more than 200 markets in over 30 states. They purchase single-family homes, condos, land, and other real estate types. The process includes the seller providing initial information on the property, then they send a representative out to view the home and make an offer. We Buy Houses also works with foreclosures, sellers behind on payments, short sales, landlord-tenant situations, and vacant properties.
Locations: Nationwide, including New Mexico
Closing costs: Sellers pay no closing costs; We Buy Houses covers them.
We Buy Houses holds a 3.7 on Google Reviews. Customer reviews on the company’s website speak to reliability, responsiveness, and fairness. We Buy Houses has been BBB accredited since 2020 and holds an A+ rating.
Website: webuyhouses.com/NM
Phone: 877-932-8946
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in New Mexico and across the country can request a cash offer for their home. Simple Sale connects you to the largest network of cash buyers in the US, and partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. This enables Simple Sale to provide cash offers for a wide array of properties, even those that need some or a lot of work, in locations throughout New Mexico.
With Simple Sale, you can get a no-obligation, all-cash offer in 24 hours, and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including New Mexico
Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is BBB-accredited with an A rating. The company has 4.8 stars on Google based on hundreds of user reviews. Below, you can hear about how Baohan Wu, a seller who used Simple Sale to sell his high-rise apartment, closed within three and a half weeks and what he thought of the process overall.
Learn more: homelight.com/simple
Phone: 844-488-8455
Express Home Buyers New Mexico
Express Homebuyers offers a straightforward, hassle-free process for selling your home quickly for cash. Since 2003, they’ve purchased more than 4,000 homes, helping homeowners avoid the stress of traditional real estate transactions. Their easy, three-step process starts with entering your property address to receive a quote. After a quick home visit where they assess your home’s condition, you’ll receive a cash offer based on its as-is state, eliminating the need for showings, repairs, or costly preparations.
Express Homebuyers aims to simplify selling for those facing life changes like divorce, foreclosure, or probate, offering fast closings and cash payments. The company stands out by offering firm offers without hidden fees, and even helping with advance cash for moving costs if needed. They believe that selling your home should be an opportunity for a fresh start, not a source of stress, and their team is committed to making the process as seamless as possible.
Location: Across the nation, including New Mexico
Closing costs: Sellers pay no closing costs; Express Homebuyers covers them.
Express Homebuyers has a 4.4-star rating on Google reviews, and customers express appreciation for the team’s professionalism, efficiency, and stress-free service. Many reviewers highlight specific team members, such as Chris and Kevin, for their excellent customer service and clear communication. Sellers appreciate how the company handles the entire process, from paperwork to closing, often ahead of schedule. They find the experience seamless, especially in difficult situations like probate or selling a family member’s home. Many mention feeling relieved and grateful for the support and convenience provided throughout the sale. Overall, Express Homebuyers is highly recommended for its smooth and transparent process. Express Homebuyers has been accredited by the BBB since 2004, and holds an A rating.
Note: The BBB site reports a resolved complaint brought against Express Homebuyers by the Office of the Attorney General for the District of Columbia (OAG). The lawsuit alleged that the company sent letters to DC homeowners falsely claiming that they owed past due property taxes and urging them to act quickly so they would not lose their home to a tax sale or foreclosure. In December 2022, Express Homebuyers paid a fine and entered into a Consent Order with the OAG that settled the allegations.
We Buy Ugly Houses/HomeVestors New Mexico
We Buy Ugly Houses / HomeVestors is one of the largest house-buying companies in the country. They’ve been in operation for more than 25 years and have purchased more than 140,000 homes in cities across America. They’ll buy your house as-is with no repairs, and close in as little as three weeks. This company is reputable, but due to their focus on “ugly” properties, their offers may be on the lower side. Additionally, sellers’ experiences can vary depending on the specific office they work with.
Locations: Nationwide, including New Mexico
Closing costs: We Buy Ugly Houses / HomeVestors covers all “typical” closing costs.
We Buy Ugly Houses / HomeVestors in New Mexico has a perfect 5-star rating on Google reviews, and reviewers say they had positive experiences working with the company, frequently commending the professionalism and honesty of their representatives. One customer appreciated how their specialist addressed concerns with transparency, while another valued the representative’s integrity during a cash sale. Many found the selling process smooth and efficient, with one reviewer specifically highlighting how easy it was to work with their specialist. Overall, clients recommend the company for anyone looking for a straightforward and supportive property sale. HomeVestors has been BBB accredited since 2013 and has an A+ rating.
Website: homevestors.com/albuquerque
Phone: 866-200-6475
Enlight Homebuyers
Enlight Homebuyers, founded by Andy McFarland in 2015, focuses on providing a simple and stress-free home-selling experience. With a team boasting more than 84 years of combined real estate experience, the company is dedicated to helping sellers with professionalism and integrity. Enlight Homebuyers offers cash purchases with no need for repairs, cleaning, or showings, allowing sellers to close on their own timeline. Their process is designed to be fast and flexible, with the ability to close in as little as 48 hours, and there are no out-of-pocket costs for sellers.
Locations: Throughout New Mexico
Closing costs: Sellers pay no closing costs; Enlight Homebuyers covers them.
Enlight Homebuyers has a 4.2-star rating on Google reviews, and customers praised the company for their professionalism, responsiveness, and the ease of the selling process. One reviewer, after inheriting a home in need of repairs and facing lien issues, was relieved by the helpfulness and expertise of the staff. Another reviewer appreciated the courteous and knowledgeable team that guided them through the transition of their inherited property. Others highlighted the speed and efficiency of their transactions, with one customer closing in just a few days. Across the board, clients expressed gratitude for how smoothly the company handled their situations during difficult times. Enlight Homebuyers has been BBB-accredited since 2013 and holds an A+ rating.
Why sell your New Mexico house for cash?
There are numerous compelling reasons why a New Mexico home seller might opt for a cash-for-homes company. Topping the list is the unparalleled speed of the process, often allowing sellers to close in just days. This is especially beneficial for those facing urgent financial situations or needing a quick sale. Certainty is another key advantage. Sellers receive a firm cash offer without the unpredictability of traditional buyer negotiations or financing falling through. Lastly, the convenience of selling as-is, without the need for repairs, cleaning, or showings, makes it an attractive option for those looking to minimize stress and effort.
In the Land of Enchantment, it typically takes about 95 days to sell a home on the market using an agent. That includes an average of 51 days on the market, plus the typical 44 days a buyer needs to close on a purchase loan.
Compare that to the typical seven to 10 days promised by many house-buying companies in the state, and it’s clear why these We Buy Houses groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
Consider these scenarios where a New Mexico house-buying company might offer the relief and expediency you need:
- Rapid relocation: If you’re facing an unexpected job transfer and need to move quickly, selling for cash can speed up the transition.
- Financial distress: Cash sales can provide immediate relief for those dealing with financial challenges like bankruptcy or impending foreclosure.
- Divorce proceedings: A fast, cash sale can simplify the division of assets when you’re dealing with the complexities of a divorce.
- Inherited property: Selling an inherited New Mexico home for cash can be a straightforward way to handle estate settlements without the delays of traditional listings.
- Deteriorating condition: If your home needs major repairs and you lack the funds or interest in renovation, a cash offer can be a practical solution.
- Landlord fatigue: For landlords tired of managing rental properties or dealing with difficult tenants, selling for cash offers a clean break.
- Life’s upheavals: Whether due to health issues, the need for assisted living, or another personal crisis, quick cash sales can provide necessary funds without the wait.
- Absentee ownership: Managing and selling a property from out of state can be challenging; cash sales eliminate these complications.
Pros and cons of house-buying companies in New Mexico
One of the biggest advantages of working with We Buy Houses for Cash companies in New Mexico is that you can sell your home as-is with no repairs required, and they’ll buy homes in any condition.
If your home was severely damaged in a weather event, or you’ve fallen years behind on routine maintenance, you can still sell without needing to make the extensive repairs that financed buyers may require.
Here are some other pros to consider:
Pros
- Speed: You can typically sell your house in as few as seven to 10 days, providing a quick solution for urgent situations.
- Buy as-is: Companies will buy your house as-is, meaning no repairs or cleaning are required before the sale.
- Certainty: These companies offer firm cash deals with few or no contingencies, ensuring a smoother, more predictable process.
- Convenience: Skip the hassle of showings, open houses, and negotiations, making the sale process much easier and less stressful.
Cons
The most significant con of selling to a house-buying company is that they likely will offer you below market value for your home compared to selling on the market with an experienced real estate agent. Here are some of the key drawbacks:
- Lower offers: Expect offers to be lower than what you might receive on the open market.
- Potential for scams: Be cautious of scams and dishonest companies; always vet your buyers.
- Limited negotiation: There’s typically little to no room for negotiating the price.
- No agent expertise: You miss out on the professional guidance and market knowledge that a real estate agent provides.
Your home is more than a place where you make memories with family; it’s also likely your biggest asset. Sure, you want to sell quickly, but you could be leaving major money on the table if you choose to work with one of these We Buy Houses for Cash companies.
Always do your research, compare your options, and consult with a trusted advisor before accepting any offer.
Curious What Your Home Is Worth?
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.
Vet cash buyers and know your home’s worth
When you’re considering a We Buy Houses for Cash company in New Mexico, remember that these businesses are as diverse as the homes they purchase. The integrity and service level vary widely, and your experience hinges on the character and reputation of the individual or group behind the offer. It’s essential to evaluate who you’re selling to carefully; after all, not all cash buyers are created equal.
Before you commit to a cash offer, take the time to vet the company thoroughly. Check online reviews, sift through testimonials, and assess their market presence and history. A reputable company should have a track record that inspires confidence. Moreover, scrutinize the buying agreement. Understand every clause and implication to ensure your interests are protected before you sign on the dotted line.
HomeLight suggests you consult with an experienced New Mexico agent to get a better idea of what your home might be worth if sold on the open market. Then compare your cash offer. HomeLight can connect you with a top-performing agent in your market. You can also use HomeLight’s Home Value Estimator to get an initial estimate in less than two minutes.
Other options to sell your home quickly
iBuyers
iBuyers, or instant buyers, use automated valuation models (AVMs) to offer near-instant home value estimates. They provide a mostly online experience, offering all-cash deals typically closer to market value for homes in good condition. The iBuyer process from offer to closing is quick, usually within a few days to two weeks. However, companies like Opendoor and Offerpad charge service fees of 5% to 6%.
Listing with an agent
Listing with a top real estate agent can also result in a fast sale, especially in a seller-friendly market. An agent can provide a comparative market analysis (CMA), which helps determine an appropriate listing price and estimate the time to sell. Many agents offer CMAs, often free.
Partnering with a proven agent can yield the highest selling price and they may even connect you with buyers offering cash closer to market value. If you are interested in exploring the agent option, HomeLight can connect you with a top-performing real estate agent in your area today.
FAQs on New Mexico house-buying companies
Most We Buy Houses for Cash companies in New Mexico are legitimate businesses. Their services and transaction fees may differ, but the business model has existed for decades. If you use an established group with a track record, you can be fairly confident it’s legitimate.
That said, as with any financial transaction, it’s a good idea to be alert for scams. Always research companies before you sign a contract. Check customer reviews, look at their online presence, verify professional licenses, get a referral if possible, and vet the company on the Better Business Bureau website. Watch for anything that just doesn’t seem right.
Most New Mexico We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value (ARV), minus their estimated repair costs.
Here’s an example of what a simplified formula might look like:
(Your home’s ARV x .70) – repair costs
To see how this might work in a real-world scenario, let’s look at an example offer equation.
Let’s say your New Mexico Pueblo-revival style or Santa Fe-style home could sell for $345,000 after repairs, but it will need $30,000 of work to get there.
($345,000 x .70) – $30,000 = $211,500
In this example, a New Mexico We Buy Houses company might offer you about $211,500 for your home.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more than We Buy Houses companies because iBuyers look for homes in better condition. An iBuyer might pay you 90% or more of market value while charging a fee for their services.
When you accept an offer from a New Mexico We Buy Houses for Cash company, you’re dealing with a double-edged sword. On one hand, there are no extra costs since these companies handle most of the process once you agree to their offer. On the other hand, you’re likely to receive less money overall for your home compared to selling through traditional methods.
Because We Buy Houses for Cash companies tend to focus on distressed homes, they typically have zero fees. Many will even cover your closing costs. In most cases, this means that the cash offer you receive will be the price you walk away with at the end of the deal. Of course, it’s always a good idea to ask the company if any hidden program fees might affect your bottom line.
- Research and vet the house-buying companies that serve your New Mexico area. Our list above is a good place to start.
- Submit offer requests to a few companies you like best.
- Schedule any required on-site property visits.
- Compare offers. Consider the pros and cons and choose the best option for you.
- Close the sale in a week to 30 days and get paid. Some companies will let you choose a closing date up to 90 days after accepting the offer, which can be helpful when planning a move.
We Buy Houses for Cash in New Mexico vs. a top New Mexico agent
Another helpful exercise is to compare how a We Buy Houses for Cash company might stack up against working with a real estate agent. Let’s take a look at how various aspects of the sale might play out and compare potential proceeds.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in New Mexico | Sell with a top Realtor® in New Mexico |
| Selling timeline | 7 to 30 days | 95 days average; 51 to attract an offer, 44 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, stage home |
| Showings | None | 10 to 25 showings average |
| Inspections/ repairs | None | May need to make additional repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower your asking price if the appraisal comes in low |
| Title search | Cash-for-homes companies often handle title issues | Must clear title before you can sell home |
| Financing contingency | None | Mortgaged buyers use a financing contingency that could hold up the deal if the buyer’s loan doesn’t clear |
| Agent commission | None | 3% to 5.8% average |
| Closing costs | None | 1% to 3% of the home sale price on top of agent commission |
Example net proceeds
Below, we’ve put together one example of how net proceeds may differ between selling a home to a top We Buy Houses for Cash company in New Mexico and an agent-assisted sale.
Let’s say your home in New Mexico is currently worth about $345,000 and needs about $30,000 in repairs. Once the repairs are completed, the home might be worth about $375,000.
| Sell to a We Buy Houses for Cash company in New Mexico | Sell with a top Realtor in New Mexico | |
| Estimated sale price | ($375,000 x .70) – $30,000 = $232,500 | $345,000 |
| Market preparations | 0 | $3,450 (1% of sale price) |
| Agent commissions | 0 | $10,350 (3% of sale price) |
| Closing costs | 0 | $5,175 (1.5%) |
| Estimated take-home for seller | $232,500 | $326,025 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best in your situation will depend on the condition of your property, what level of repairs are needed, and your selling objectives. It could be that selling on the open market will be challenging in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Speedy sale: Selling your New Mexico home to a We Buy Houses for Cash company can be a swift transaction, often concluding in mere days or a week.
- As-is purchase: These companies typically buy homes in any condition, relieving you from needing repairs or improvements.
- No-negotiation offer: Expect a straightforward offer without the back-and-forth haggling you might encounter in traditional sales.
- Below market value: Be prepared that cash offers likely will be lower than you might achieve on the open market.
- Vetting is vital: Research and vet potential house-buying companies to ensure you work with a reputable one.
- Know your home’s worth: Understanding your property’s value can guide you in deciding whether a cash offer makes financial sense.
If you’re considering a sale to a New Mexico We Buy Houses company, it’s wise to gather multiple offers and compare them carefully before committing.
At HomeLight, we’re happy to lend a guiding hand in navigating your real estate journey. Let us help you make an informed and confident decision, whether you’re looking for a no-obligation cash offer through a trusted platform like Simple Sale or seeking to consult with a top New Mexico agent.
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