10 Ways to Sell Your Land Faster in New Mexico

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10 Ways to Sell Your Land Faster in New Mexico
By

Bart Waldon

New Mexico is a southwestern U.S. state with a landscape encompassing deserts, mountains, forests and the high plains. Its diverse topography includes the Chihuahuan Desert and the Sangre de Cristo Mountains. Its capital and largest city is Santa Fe, founded as a Spanish colony in 1610. There are 23 American Indian pueblos and three federally recognized Native American tribes calling New Mexico home. Prominent attractions like the Carlsbad Caverns National Park, White Sands National Park and the artists' community of Taos attract tourists from around the world.

With over 121,000 square miles of land spanning deserts, mountains, forests, plateaus and river valleys, New Mexico offers abundant opportunities for outdoor recreation like hiking, mountain biking, skiing, fishing and hunting. However, the varied landscape also leads to a volatile real estate market, making it difficult to determine fair market values for vacant land parcels. Additionally, connecting with qualified and interested land buyers requires considerable time and effort.

By utilizing effective selling strategies, New Mexico landowners can substantially reduce the typical 1-2 year timeframe it takes to sell raw, undeveloped property. This article outlines 10 ways Land Boss recommends to expedite selling your land in New Mexico.

1. Price Your Land Competitively

Seller greed and emotional attachment leads to the number one mistake of overpricing land parcels well above actual market value. Before even thinking of listing prices, New Mexico sellers need an objective assessment of what vacant land is actually selling for in their county.

Hiring a certified appraiser to conduct evaluations based on recent comparable land sales is the best way to benchmark local fair market value ranges. A market analysis should assess all unique characteristics of your property like:

  • Lot/acreage size
  • Road access and visibility
  • Zoning designations and restrictions
  • Utility availability
  • Topography and gradation
  • Vegetative cover
  • Water features
  • Views and scenery
  • Mineral/development rights

Armed with this pricing opinion, New Mexico land sellers should list at or slightly below the appraiser’s value range. This competitive positioning relative to other current land listings makes a property much more enticing to interested buyers ready to move.

2. Target Market Land Buyers

Running a generic classified ad stating “Land for Sale” does not effectively target serious land buyers. With so much acreage available in New Mexico, these shotgun style ads on sites like Craigslist or Facebook draw minimal interest.

Instead, aim to capture the attention of specific land buyer groups actively searching for and ready to move on property listings matching yours. This includes:

  • Developers seeking inexpensive sites for housing subdivisions or commercial retail buildings
  • Builders looking for residential lots zoned properly for constructing single-family homes
  • Farmers and ranchers in need of more acreage for crops and/or livestock grazing pastures
  • Timber companies evaluating forested sites to harvest lumber resources
  • Outdoor enthusiasts who want to own hunting land, camping grounds or private ranches
  • Renewable energy firms identifying cheap sites with high wind or solar power generation potential

Network with local real estate brokers to inquire about their client roster of buyers interested in land investments. Attend county clerk title records to identify individuals and companies that have purchased vacant property near your parcel over the past 2 years. Directly reaching out to those demonstrably interested in land acquisition instead of waiting for a random buyer to find your ad yields better prospects.

3. Highlight All Possible Land Uses

The way you utilized your New Mexico property is likely different from how potential buyers envision using the land. When creating your sales listings and print flyers, resist fixating on your existing use as just recreation, agriculture or mineral rights income.

Emphasize all favorable characteristics that appeal to wide ranges of buyer types instead:

  • Accessible acreage suitable for farming crops or grazing livestock
  • Lot/land dimensions able to accommodate different building footprints
  • Zoning designations permitting various residential, commercial, industrial or governmental structures
  • Listed within an Opportunity Zone or Qualified Opportunity Fund providing tax incentives for investment
  • Valuable natural resources like recoverable oil, gas, minerals or kaolin deposits
  • Renewable energy potential - high solar irradiation or Class 4+ wind speeds
  • Water features like ponds, streams or underground aquifers
  • Mature timber stands with valuable lumber and pulp wood yield potentials
  • Territory supporting wildlife for premium hunting leases

The more possibilities you suggest, the wider net you cast to hook new buyer leads.

4 Offer Owner Financing Terms

Few buyers have the capital on hand required to pay the full asking price for land in cash. If you demand cash-only offers, you severely limit the pool of qualified prospects able to purchase your New Mexico property.

Providing owner financing with about 25% down opens your land sale opportunity to qualified buyers who intend to build on or develop the land for profit eventually. Carrying the mortgage yourself at a favorable interest rate over a 5-10 year term makes your listing affordable to buyers lacking sufficient capital otherwise.

Structure the owner financing terms to suit New Mexico land buyer needs:

  • Favorable interest rate 2-4% below current averages
  • Lengthy payment term (e.g 10-20 years)
  • Options for interest-only initial payments
  • Lower balloon payments acceptable after development

5. Divide Large Parcels into Smaller Lots

New Mexico sellers often struggle selling very large land parcels - over 640 acres for instance. The considerable expense deters all but a few specialized institutional buyers needing huge swaths of acreage.

If feasible based on geography, access and zoning allowances, subdivide your land into smaller segmented lots of 1-5 acres in size. This boosts affordability into the budget range of far more individual and family buyers looking for cheap building lots, hobby farms or recreational hunting land.

Completing necessary permitting, surveying and site preparation works ahead of listing makes your New Mexico land parcels ready for immediate sale and conveyance versus raw acreage.

6. Offer a Generous Inspection Clause

Unlike buying an existing residential property, land buyers lack structures and systems to physically inspect beyond very basic condition viewing. The vacant dirt, slopes and natural elements block critical glimpses into subsurface factors affecting worth.

Providing an ample 30-60 day inspection period reassures buyers of the ability to perform due diligence like:

  • Environmental testing for contamination
  • Flood risk elevation mapping
  • Detailed contour and boundary surveys
  • Ingress/egress easement verification
  • Appraisals to confirm listing price fairness
  • Mineral/water rights transferability

Being flexible on addressing issues discovered during inspection also minimizes lost deals. Renegotiate sale terms or lower prices within reason instead of losing the sale completely over discrepancies found.

7. Prepare Necessary Paperwork

Motivated buyers want to act quickly when they finally find appealing land listings before losing out to competitors. Lengthy delays chasing down proper documentation from unprepared sellers is frustrating.

Assemble a comprehensive due diligence package containing all paperwork needed to vet your property’s merit and legal conveyance eligibility:

  • Title certificate confirming current ownership
  • County survey with boundary markers
  • Zoning designation paperwork
  • Partial lien releases from mortgage/HELOC companies
  • Homeowners association bylaws and transfer fees info
  • Disclosure covering flood zone determination
  • Mineral/water rights transfer confirmation
  • Easement details for access, utilities etc.
  • Tax documentation including levies and tax ID
  • Intended land use restrictions

Having these prepared in advance lets buyers and their representatives skip tedious paperwork delays holding up deal progress.

8. Develop the Property

Vacant raw land selling in New Mexico in “as-is” condition can deter buyers feeling overwhelmed by site development costs required before utilizing it. They factor in expenses like:

  • Brush clearing
  • Access road grading
  • Well drilling
  • Septic system or sewer line installation
  • Electric/communication utilities location and hookup
  • Environmental hazard removal

Making modest upfront investments into prerequisite site development, even without actual vertical building construction, adds measurable property value. The site work visually demonstrates potential, easing buyer fears about their own prep costs.

Completing this work also justify boosting asking prices over raw land comps. Just maintain records of development expenses to defend the markups.

9. Clean Up Any Eyesores

First impressions always influence purchase decisions - sometimes unconsciously. Any glaring eyesores existing on your New Mexico land automatically prompt doubts or skepticism from buyers during showings before they consider positive attributes.

Eliminating visual detractors helps buyers mentally focus on envisioning their own future use instead of current condition curiosities. Tactically important fixes include:

  • Demolishing any dilapidated structures beyond reasonable repair
  • Removing abandoned vehicles, equipment carcasses or appliance dump sites marring natural views
  • Clearing out piles of garbage, tires or other debris
  • Capping any unsafe holes or pits
  • Posting signage to prohibit future illegal dumping

New Mexico sellers maximizing land value must remember - buyers bid based on potential not problems!

10. Promote Availability for Land Showings

Restricting physical showings to occasional weekends or strictly-by-appointment touring gives buyers fewer opportunities to view and evaluate your New Mexico land listing. With so much terrain in the state, most prospective buyers are driving through rural areas searching for viable parcels.

Promote maximum scheduling flexibility to buyers - distribute viewing options over several days spanning both weekdays and weekends. Catering to serious buyer inquiries for rapid showings converts more of these hot leads into prompt offers since they came ready to move.

Most importantly, be fully prepared at showings to converse about listing pricing and share comprehensive documentation assembled in advance on the land’s merits. Overcome buyer objections head-on with facts to further deals, not stall them.

Selling vacant land in a massive state like New Mexico inherently requires ample time even employing these tips. However, the rewards justify staying patient through site work investments, showing setbacks and negotiation stalemates. The ideal buyer able to pay fair market value or grant profit potential exists somewhere. Putting effective sales practices into play streamlines deal progress so you can sell your New Mexico land faster than posting an ad alone and waiting years crosses fingers.

Frequently Asked Questions (FAQs)

How long does it typically take to sell land in New Mexico?

It typically takes 1-2 years to sell raw vacant land in New Mexico. Utilizing pricing strategies, marketing directly to land buyers, and preparing paperwork can help reduce the sales period substantially. Be patient even with the best efforts.

What disclosure paperwork should I prepare when listing land?

Assemble documents confirming legal ownership, county surveys, title certificates, tax IDs, lien releases, intended land use restrictions, mineral/water rights, flood zone status, easements access rights and more. Having paperwork ready speeds sales.

Can I increase my land value by making site improvements before selling?

Yes, basic improvements like brush clearing, graveling access roads, well drilling or adding utilities infrastructure adds quantifiable property value. It visually shows buyers the potential and eases concern about their own prep costs.

Should I consider owner financing for my land sale?

If you can carry a mortgage yourself at favorable rates over 5-20 years, owner financing allows qualified buyers lacking enough capital to buy land outright. You expand the prospective buyer pool substantially.

Will dividing my large acreage into smaller lots help sell the land faster?

Potentially yes. Smaller 1-5 acre lot sizes appealing to individuals and families are more affordable than selling 100+ acres to institutions. Completing the subdivision legal work prepares lots for conveying efficiently.

About The Author

Bart Waldon

Bart, co-founder of Land Boss with wife Dallas Waldon, boasts over half a decade in real estate. With 100+ successful land transactions nationwide, his expertise and hands-on approach solidify Land Boss as a leading player in land investment.

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