5 Top We Buy Houses for Cash Companies in New Mexico
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Joseph Gordon Associate EditorJoseph Gordon is an Associate Editor with HomeLight. He has seven years of experience reporting on the commercial real estate and insurance industries. He holds an MFA in Creative Writing from the University of San Francisco.
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
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 crucial to weigh 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
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout New Mexico.
Disclaimer: This post is meant to be used 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 an endorsement.
Working with house-buying companies in New Mexico
We Buy Houses companies can typically close your home sale within seven days to a few weeks. In more urgent cases, a sale can close as quickly as 48-72 hours.
Here’s how the process typically works:
- Contact the company: Conduct preliminary research on house-buying companies in your area. Once you’ve vetted them, reach out to the company. Provide them with basic information about your New Mexico property, such as location, size, and condition.
- Receive an offer: The company will likely conduct a brief evaluation of your property and present you with a cash offer, typically within a day or two.
- Review the offer: Take your time to consider the offer. Remember, most Cash For Homes companies propose a no-obligation offer so that you can accept or decline.
- Accept the offer: If you like the offer, you can proceed by accepting it. The sale can often move forward without contingencies that traditional sales require.
- Close the sale: The company will handle most of the paperwork, and closing can occur on your timeline, sometimes in as little as a week.
- Get paid: Upon closing, you’ll receive the cash for your home, allowing you to quickly move on to your next phase without the hassle of a traditional home sale.
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 homebuying network with independent franchise offices, serving over 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: Throughout New Mexico
Closing costs: Sellers pay no closing costs. We Buy Houses covers them.
We Buy Houses has been BBB accredited since 2020 and holds an A+ rating. The company holds a 3.7 on Google Reviews. Customer reviews on the company’s site speak to reliability, responsiveness, and fairness.
Website: webuyhouses.com/NM
Phone number: 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 U.S. 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 different 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 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 number: 844-488-8455
Express Home Buyers New Mexico
Founded in 2003 by Jud Allen and Brad Chandler, Express Homebuyers addresses challenges like divorce, foreclosure, and inherited property by offering a 3-step process. They provide cash offers, eliminating broker commissions and long closing processes. They cover the closing costs and offer moving assistance.
Location: Albuquerque and Santa Fe in the North, and Las Cruces in the South
Closing costs: Sellers pay no closing costs; Express Home Buyers covers them.
Express Homebuyers is a BBB-accredited company with a A- rating. The company currently has 4.2 stars on Google. One customer review highlighted selling their rental property to Express Homebuyers. Despite having a renter in place, Express Homebuyers moved up the closing when the renter left early. The customer appreciated the quick and easy process and recommended Express Homebuyers to anyone planning to sell their home as-is.
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.
Website: expresshomebuyers.com/new-mexico
Phone number: 877-804-5252
We Buy Ugly Houses/HomeVestors New Mexico
We Buy Ugly Houses/HomeVestors is one of the largest Cash For Homes companies in the U.S. They’ve been in operation for over 25 years and have purchased over 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 among the most reputable, though — because of their target “ugly” properties — the offers may be on the lower side. In addition, sellers’ experiences can vary depending on the office you work with.
Locations: Nationwide, including New Mexico
Closing costs: We Buy Ugly Houses/HomeVestors covers most, if not all, closing costs.
Reviews for We Buy Ugly Houses/HomeVestors are mostly positive, though they can vary by location. Customers who leave reviews often tout the company’s speed, professionalism, and generally fair offers. On the Albuquerque website, the company explains, “Every time we’ve bought a house, we’ve worked to see if we can do anything extra to help each homeowner’s situation.” The most common benefit mentioned by past clients is the fact that We Buy Ugly Houses/HomeVestors purchased their homes as-is despite significant damage or wear and tear.
Website: homevestors.com/albuquerque
Phone number: 877-651-3624
Enlight Homebuyers
Andy McFarland, the CEO of Enlight Homebuyers, has been purchasing homes since 2015. McFarland’s team hosts a collective experience of 84 years. The company’s goal is to aid clients who entrust them with their home-selling journey. The company touts a “3-Step” sale process, backed by a team of licensed agents in various locations across the country.
Locations: Throughout New Mexico
Closing costs: Sellers pay no closing costs. Enlight Homebuyers covers them.
Enlight Homebuyers is a BBB-accredited company since 2013 with an A+ rating and 3.55/5 stars. One reviewer notes a situation with an inherited home with liens and tax issues. Encountering challenges, they turned to Enlight Homebuyers. The reviewer also said the staff effectively resolved lien concerns, offering a fair cash deal that brought relief. The company holds a 4.2 Google rating.
Website: enlighthomebuyersnewmexico.com
Phone number: 505-227-8865
Why sell your New Mexico house for cash?
There are plenty of compelling reasons a New Mexico home seller may choose to work with a Cash-For-Homes company. Leading the list are the benefits of speed, certainty, and remarkable convenience.
In the Land of Enchantment, it typically takes around 74 days to sell a home on the market using an agent. That includes an average of 30 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
House-buying companies can significantly streamline the sales process. Here are some pros of using them:
- Quick sale: A swift transaction is often guaranteed, with some companies closing in as little as seven days.
- Buy ‘as-is’: These companies will buy your home in its current condition, eliminating the need for repairs or improvements.
- No realtor fees: Selling directly to a buyer means you won’t have to pay commission fees to real estate agents, which can save you money.
- Simplified process: The sale involves fewer steps and less paperwork than traditional real estate transactions, making for a less stressful experience.
While the benefits are clear, it’s important to acknowledge potential downsides.
Consider these cons:
- Lower offers: You’re likely to receive less than market value, which is the trade-off for the convenience and speed of cash offers.
- Limited negotiation: The price is usually a take-it-or-leave-it deal, offering little room for bargaining.
- Potential for scams: Homeowners must be vigilant as the industry is ripe with the possibility of fraudulent schemes.
- Less market exposure: You risk missing out on higher offers that could come from wider market exposure through traditional selling methods.
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 crucial 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 ballpark estimate in less than two minutes.
Other options to sell your home quickly
iBuyers
iBuyers offer a modern twist to selling your home fast, with almost instant, data-driven offers and a mostly online process. They often pay closer to market value for homes in good condition.
However, it’s important to note that iBuyers like Opendoor and Offerpad typically charge service fees around 5%-6%. The iBuyer option is best suited for sellers with standard neighborhood houses that don’t require repairs.
Listing with an agent
Considering a traditional sale with a real estate agent is also valuable. Top agents can expedite sales through strategic pricing and marketing, possibly netting you a higher sale price.
They can also usually provide a comparative market analysis (CMA) — often for free — to help set competitive prices and might connect you with cash buyers at market value. HomeLight can link you to leading agents for further assistance.
FAQs on New Mexico house-buying companies
By and large, 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 legit.
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.
As described in our pros and cons list above, 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, 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 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 around $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 will likely be coming to grips with a two-edged sword. On the one side, it shouldn’t cost you any additional money because these companies make an offer and handle almost everything once it is accepted. Conversely, you’ll likely get less money overall for your home.
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 impact 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. Weigh 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. 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 glance at how different aspects of the sale might look, and compare possible 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 | 74 days average; 30 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 | 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 We Buy Houses for Cash company 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 around $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 | $20,010 (5.8% of sale price) |
| Closing costs | 0 | $5,175 (1.5%) |
| Estimated take-home for seller | $232,500 | $316,365 |
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 will likely 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.
Header Image Source: (Joonyeop Baek / Unsplash)
