Mortgage rates have been rising in 2023 currently at an average of 6.67%, thus putting off buyers. Hence, it’s no surprise that sellers flock to cash home buyers in New Mexico to offload their properties.
Home sellers flock to cash house buyers in New Mexico for their instant offers and quick sales.
So, if you are strapped for cash and need to sell your home fast, consider a company offering quick cash for houses.
- In April 2023, compared to a year before, the median of current home sale has decreased by 1.7%.
- iBuyers are declining, and there are also predictions of top iBuyers like Opendoor going bankrupt.
- Opting for cash marketplaces like Houzeo can even get you more than one offer. You can also opt for cash companies like Express Homebuyers or Enlight Homebuyers.
Let’s look at the best companies that buy houses for cash in America.
Rankings: 7 Companies That Buy Houses for Cash in New Mexico
|Cash Home Buyers||Service Fee||100% Online||5-Star Reviews||Mobile App|
|2. Offerpad||6% of Sale Price||⛔||⛔||✅|
|3. Opendoor||5% of Sale Price||⛔||⛔||✅|
|4. Express Homebuyers||None||⛔||⛔||⛔|
|5. Enlight Homebuyers||None||⛔||⛔||⛔|
|6. We Buy Ugly Houses||None||⛔||⛔||⛔|
|7. ASAP Cash Home Buyers||None||⛔||⛔||⛔|
Reviews: 7 Companies That Buy Houses for Cash in New Mexico
1. Houzeo.com: Maximum Exposure to Cash Buyers
Houzeo is a 100% online FSBO website. You can list on MLS within 12 business hours. Houzeo’s advanced tech helps you manage your listing, offers, showings, inspections, and closings. It has a 4.9 out of 5 ratings.
Houzeo offers affordable FSBO MLS listing packages:
- Bronze – $329+: This package offers Houzeo listing only for 6 months with maximum photos.
- Silver – $399+: This plan includes everything offered in the Bronze package. Additionally, you can make unlimited listing changes, get a custom yard sign, and access Houzeo Showings and Houzeo Offers.
- Gold – $379+ 0.5% at Closing: This plan includes everything offered in the Silver plan. You also get federal and state disclosures, a personal concierge, call forwarding, and more. It is Houzeo’s most advanced package.
- Platinum – $349+ 1% at Closing: This is the ultimate plan with a 1-year listing term and virtual full-service from a licensed broker who’ll help you until closing.
👉 Our Recommendation: We recommend the GOLD plan. You’ll have access to Houzeo tech, making managing showings and offer negotiations easy! Confirm all prices on the state’s pricing page before you list.
Houzeo is the best For Sale By Owner website in the U.S., and here’s why:
- 100% Online: Houzeo is tech-centric. For you, this means easy listings, fast changes, online showings, and online offers. Houzeo Mobile App is also very powerful.
- Maximum Exposure: Your listing gets syndicated to 100+ real estate websites like Zillow and Trulia. This ensures maximum visibility for your FSBO property.
- Maximum Savings: With Houzeo, you save at least 3% on listing agent commissions. The company discloses all costs upfront, so there are no Houzeo hidden fees.
- Stellar Customer Review: Houzeo is rated “Excellent” with a 4.9 out of 5-star rating by 5,112 home sellers on Google Reviews and Trustpilot!
- Nationwide Coverage: Houzeo covers 47 states and DC.
Houzeo’s services are limited in Wyoming, South Dakota, and West Virginia. This means your listings may not get updated in 12 hours and may not get maximum exposure.
» Houzeo Complaints: Find out if there are any serious complaints about Houzeo.
Offerpad has been in business since 2017 and has bought, sold, and renovated nearly 10,000 houses. Offerpad has a team of experienced professionals and advanced technology to help homeowners sell their houses quickly for cash.
- Fees: 6% of Home Sale Price.
- Offer: 80% to 100% of the property’s Fair Market Value (FMV).
- Property Type: Only house built after 1960, with a maximum lot size of 1 acre and a max valuation of up to 1M.
- Terms: The closing can be done in less than 10 days.
👉 We Recommend: Offerpad is a good option as an iBuyer. However, their final cash offer is calculated after deducting closing costs, typically 6% to 13%.
- Sell As-Is: Offerpad buys houses in as-is condition, you do not even have to stage your home.
- Additional Options: You can even choose to stay long-term if you make a deal with them.
- Good Coverage: Offerpad buys houses for cash in 21+ markets across 16 states, including Alabama, Florida, Georgia, and Texas.
» Pros and Cons of Offerpad: Check out this detailed pros and cons of Offerpad.
- Cancelation Fees: There is a 1% cancellation fee if you back out of the deal after accepting.
- Closing costs: Offerpad service fees (5%), plus deduction for repairs, typically 1% to 7%.
- Lowball Cash Offers: The closing costs and service fees can add up to more than 10% of the purchase price in some situations, resulting in a lower cash offer than expected.
Opendoor is America’s best and largest iBuyer based out of San Francisco. Opendoor has been in business since 2014 and they offer instant cash for homes.
- Fees: 5% of Home Sale Price.
- Offer: 90% to 100% of the property’s Fair Market Value (FMV).
- Property Type: Only on owner-occupied properties built post-1930 with a maximum lot size of 1.5 to 2 acres.
- Terms: Upto 45 days out.
👉 We Recommend: Opendoor is a reputed iBuyer company, however their final cash offer is calculated after deducting closing costs, typically 6% to 13%.
- Advanced Technology: Opendoor offers the best UI experience for users.
- Fast Cash Offers: They give a preliminary cash offer within 24 hours.
- Good Coverage: They offer services in 51 markets including top cities like Boston, San Francisco, and Birmingham.
- No Cancelation Fees: You can cancel at any time without the worry of being charged a fee.
» Pros and Cons of Opendoor: Check out our detailed pros and cons list on Opendoor.
- Closing Costs: You will have to pay closing costs, typically 6% to 13%.
- Additional Charges: They also have a hefty service fee of up to 14% of the sale price.
- Strict Criteria: They have very strict rules of buying and will sometimes even back out of the deal at last minute.
4. Express Homebuyers
Express Homebuyers is a well-known company based in Virginia that buys houses for cash. They have been buying houses since 2003 and have provided fair cash offers to over 4,000 homeowners.
- Fees: No Fees.
- Offer: 50% to 70% of the property’s Fair Market Value (FMV).
- Property Type: Distressed properties, houses facing foreclosure, couples going through a divorce, high crime neighborhoods, etc.
- Terms: Flexible homes close within 7 to 30 days.
👉 We Recommend: Express Homebuyers is a quick and easy option for home sellers. However, if you can put in some time and effort we suggest you list on the MLS.
- Fast Cash Offers: You get a free, no-obligation offer within 24 hours for damaged properties as well.
- Sell As-Is: Express Homebuyers buys houses in as-is condition.
- Nationwide Coverage: They are available nationwide.
- No Additional Costs: “Express Homebuyers ” doesn’t have any service fees and even covers closing costs.
» Pros and Cons of Express Homebuyers: Check out our detailed pros and cons list on Express Homebuyers.
- Lowball Cash Offers: Express Homebuyers offer absurdly low-ball offers for ugly houses. When compared to fair market value you are better off with listing on the MLS.
- Poor Customer Support: There were complaints from previous clients stating poor communication and half-hearted responses.
5. Enlight Homebuyers
Enlight Homebuyers is a local cash home buyer in New Mexico serving since 2015. The company buys distressed homes in any condition throughout New Mexico.
- Fee: None
- Offer: 50% to 70% of Fair Market Value (FMV)
- Property Types: Distressed properties like old and molded houses, foreclosed properties, bad mortgage financing, inherited houses, etc.
- Terms: Enlight Homebuyers can close in as little as 3 days if necessary.
👉 Our Take: Enlight Homebuyers provides a fair all-cash offer and fast closing for homes throughout New Mexico.
- Fast Cash Offers: Enlight Homebuyers makes free, no-obligation cash offers within 24 hours.
- Flexible and Quick Closing: You can finalize the closing date on your own terms. Enlight Homebuyers specializes in closing in as little as 3 days.
- Strong Local Coverage: Enlight Homebuyers and its affiliate agents and brokers operate throughout New Mexico.
- Zero Service Fees: No realtor service fees, no commissions, and no closing costs.
- Sell As-Is: You can save on repair costs and sell your house as-is.
» Pros and Cons of Enlight Homebuyers: Check out our detailed pros and cons list on Enlight Homebuyers.
In our research, we came across some deal breakers of Enlight Homebuyers.
- They Will Spam You: Past sellers have complained about Enlight Homebuyers’ constantly spamming them with emails.
- Lowball Cash Offer: Enlight Homebuyers may put in lowball cash offers of around 50% to 70% of the fair market value. This is lower than what you can get on the open market.
» Enlight Homebuyers vs. Houzeo: Read further to know which is the better, America’s biggest iBuyer or largest cash marketplace!
Enlight Homebuyers has a rating of 4.2 out of 5 stars with 32 reviews on Google.
6. We Buy Ugly Houses
“We Buy Ugly Houses” is a cash home buyer that purchases houses in any condition. They are owned by Homevestors and they are in business for the last 20 years.
- Fees: No fees.
- Offer: 50% to 70% of Fair Market Value (FMV).
- Property Type: They buy distressed properties with structural issues, couples going through a divorce, a death in the family, bad mortgage financing, inherited houses, high-crime neighborhoods, etc.
- Terms: Flexible; homes close within 7 to 60 days.
👉 We Recommend: If you do not expect more than 70% of your property’s market value, this is a great option for you!
- Fast Offers: You can get a cash offer within 24 to 48 hours.
- Quick Closing: You can close in as little as three weeks.
- Sell As-Is: “We Buy Ugly Houses” buys houses in as-is condition, you do not have to worry about repairs.
- Nationwide Coverage: “We Buy Ugly Houses” operates nationwide in 1,100 locations in 45 states.
- No Hidden Costs: There are no service fees and they even cover closing costs.
» Pros and Cons of “We Buy Ugly Houses”: Check out our detailed pros and cons list on “We Buy Ugly Houses”.
- Lowball Cash Offers: You might only get offers around 50% to 70% of the property’s fair market value.
- Inconsistent Service Quality: “We Buy Ugly Houses” is a franchise, hence the quality of service you will receive is entirely region based. We suggest you should do a thorough check on the investor you find before selling to them.
7. ASAP Cash Home Buyers
ASAP Cash Home Buyers is a nationwide cash home buyer in business since 2013. They are reliable and even buy houses with tenants.
- Fees: No fees.
- Offer: 50% to 70% of Fair Market Value (FMV).
- Property Type: They buy distressed properties with structural issues, couples going through a divorce, a death in the family, bad mortgage financing, pending foreclosure, high-crime neighborhoods, etc.
- Terms: They close in as little as 3 weeks or at any date of your convenience.
👉 We Recommend: ASAP Cash Home Buyers is a good option for any looking to sell their house fast. However, only except lowball cash offers.
- Nationwide Coverage: ASAP Cash Home Buyers are available in all the states, including Florida, Georgia, and Illinois.
- Sell with Tenants: You can sell your house to ASAP Cash Home Buyers even with tenants living in them. They will buy your house as-is.
- No Additional Costs: You do not have to pay any additional costs, they even give you legal references.
» Pros and Cons of ASAP Cash Home Buyers: Check out our detailed pros and cons list on ASAP Cash Home Buyers.
- Inconsistent Service Quality: They are more of an investor’s network and the quality of service you receive depends mainly on the individual investor you approach.
- Lowball Cash Offers: They may put in lowball cash offers of around 50% to 70% of the fair market value. This is lower than what you can get on the open market.
Cash Home Buyers in New Mexico: Pros & Cons
Besides the speedy process, the convenient approach is another reason you can opt for cash buyers. Let us look at some of the pros and cons of selling to a home cash buyer.
- Quick Sale: In the conventional home sale process you have to go through a home appraisal among other steps. But with cash home buyers, you can get an offer in just one day.
- No Hidden Costs: “We Buy Homes for Cash” companies don’t have any upfront costs. You can sell your house as-is without much delay.
- Flexible Closing: Without the wait for mortgage preapprovals and listing paperwork you can close at your own pace.
- Non-Negotiable Deals: The preliminary offers they make are usually final. Most cash buyers do not even hire home inspectors, hence they might not budge from their offer.
- Lowball Cash Offers: They deduct repair costs and utility expenses. The final offer is usually only 50% to 70% of the actual fair market value of the house.
- You May Have to Pay Closing Costs: Some cash house buying companies may make you pay the closing costs though not mentioned in their site.
Should I Sell to a Company That Buys Houses for Cash in New Mexico?
Yes, especially if you are on a severely tight timeline, have inherited property, in need of urgent cash, or want to get rid of a distressed property.
However, if you’re simply looking for an all-cash offer and can hang in there, then listing on the MLS would be ideal.
Nationwide cash home buyers are hunting for properties on the MLS. This increases the chances of getting a competitive cash offer while marketing the property to multiple buyers simultaneously.
With a technologically advanced platform like Houzeo.com, you can start your listing process on any device and finish all the paperwork seamlessly.
1. How does the process of selling my house for cash in New Mexico work?
Typically, cash house buying companies in New Mexico offer a streamlined process where they assess your property, make a fair cash offer, handle the paperwork, and close the deal quickly, often within a few days.
2. Are there any fees or commissions involved when selling my house for cash?
Reputable cash house buying companies in New Mexico typically do not charge any fees or commissions. They make a straightforward cash offer, and if you accept it, they handle the transaction without any additional costs to you.
3. Can I sell my house for cash in New Mexico even if it needs repairs or is in poor condition?
Absolutely! Cash house buyers in New Mexico specialize in purchasing houses in any condition. They are willing to buy properties as-is, so you don't need to worry about making any repairs or renovations before selling.