Sell your New Mexico land for cash

No, New Mexico has no state real estate transfer tax. The county clerk generally charges a recording fee of $25 for each document recorded. Santa Fe has a city excise tax of 3% on the part of a residential sale price over a threshold. The city code exempts sales of undeveloped land. Source: New Mexico Statutes Sec. 14-8-15 and Santa Fe City Code Sec. 18-18.8.

Interest and penalties start, and after three years the state can sell the land at auction. Unpaid taxes accrue interest of 1% a month, and a penalty of 1% a month is added, up to 5% of the taxes. The Taxation and Revenue Department can sell the land any time after three years from the first delinquency date. Vacant lots in some large subdivisions platted by 1980 and delinquent 10 years or more can go to a special sale. That sale can be for less than what is owed. Source: New Mexico Statutes Secs. 7-38-49, 7-38-50, 7-38-65 and 7-38-67.1.

Usually not. New Mexico has no redemption period after a tax sale, so act before the sale. You can stop a sale by paying all delinquent taxes, penalties, interest and costs by 5:00 p.m. the day before. An installment agreement with the Taxation and Revenue Department signed by that deadline also stops it. A former owner has two years after the sale to challenge the deed in court. The grounds are narrow, such as a required notice that was never mailed. Any money left after costs, penalties, interest and the delinquent taxes goes to the former owner, less other taxes they owe. Source: New Mexico Statutes Secs. 7-38-65, 7-38-70 and 7-38-71.

There is no statewide condition disclosure form for vacant land, but some land has its own rules. If the lot is in a homeowner association, you must give the buyer the association's documents before closing. Its disclosure certificate must reach the buyer at least seven days before closing, and the buyer can then cancel within seven days. Dividing land into two or more parcels for sale can bring in the subdivision laws and their disclosure rules. Ask a New Mexico real estate attorney what your sale needs. Source: New Mexico Statutes Secs. 47-16-11, 47-16-12 and 47-6-17.

Irrigation water rights usually do, unless the deed reserves them or they were already separated from the land. State law says a transfer of land carries all rights to use water appurtenant to it for irrigation. The New Mexico Supreme Court held that other water rights are not appurtenant, so a deed that is silent on water does not convey them. The new owner of a water right of record must file a change of ownership form with the State Engineer. Ask the Office of the State Engineer what rights are on record for your parcel. Source: New Mexico Statutes Secs. 72-5-22 and 72-1-2.1 (with annotation to Walker v. United States, 2007-NMSC-038).

Yes. You do not need to live in New Mexico to sell New Mexico land. Liberty Acres buys land anywhere in the US and closes through a title company. We pay back taxes and all closing costs. There are no agents and no commissions.