In Q2 2024, over 30% of US homes sold for cash. A cash sale means no repairs, no delays, and a quick 7-14 day closing. No wonder New Mexico homeowners ditch repairs and choose cash buyers for a hassle-free sale!
But here’s a downside! Cash buyers offer just 30% to 70% of your home’s Fair Market Value. Don’t stress—just enter a cash buyer marketplace. Here you can receive offers that can reach up to 100% of your home’s value!
Reviews: 5 Best Cash Home Buyers in New Mexico
1. Houzeo.com: New Mexico’s #1 Cash Home Buyer Marketplace
MAX EXPOSURE TO CASH BUYERS
Listing Fee: $199Houzeo is the best option if you’re looking for multiple cash offers. Your MLS listing will be exposed to local and national cash buyers, increasing the number of offers you receive.
- Pricing:
- Silver Plan – $199: 6-month MLS listing, 24 photos.
- Gold Plan – $249: Maximum photos, contract review, seller disclosures, licensed broker assistance.
- Platinum Plan – $299: Everything in Gold with a 12 month listing and virtual full-service with licensed broker.
» Houzeo Reviews: Find out why Houzeo is one of America’s best cash buyer marketplaces.
Houzeo is America’s #1 cash buyer marketplace because of 5 reasons:
- Max Exposure: Houzeo’s packages give you access to the MLS and 100s of websites like Zillow, Realtor.com, Redfin, etc.
- 5-Star Customer Service: Houzeo’s customer service desk is available 6 days a week. Chats and emails are open 7 days a week.
- 100% Online: Houzeo is high-tech. For you, this means easy listing, fast changes, online showings, and online offers.
- No Listing Commission: You’ll pay just a small flat fee to list on MLS. You get to bypass the 3% listing agent commission!
There are no dealbreakers with Houzeo.
» Houzeo Pros and Cons: Read the advantages and disadvantages of choosing Houzeo to sell your home for cash.
Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.
With Houzeo, your home gets maximum exposure to New Mexico’s best cash home-buying companies and individual investors. You could get multiple competitive offers for your home, driving up its final sale price.
2. 1-800-CashOffer
NATIONAL COVERAGE
Service Fee: None1-800-CashOffer is a property tech company offering service across all the 50 states. They are local home buyers who do not charge any commissions or apply discounts to the offer price.
- Service Fee: None
- Typical Offer: 50% to 70% of Fair Market Value (FMV)
- Eligible Properties: 1-800-CashOffer purchase commercial buildings, duplexes, quadplexes, condos, townhouses, apartment complexes, bare land, and mobile homes with land attached.
- Closing Offer Terms: The cash home buyer begins the home purchase process on the date on time of your choice. Additionally, the company can close the sale within a week, or at a later date if you need more time to relocate.
👉 Our Take: 1-800-CashOffer is perfect for home sellers seeking a stress-free move, as the company handles everything, from clearing out old furniture to removing trash and clutter.
- No-Obligation Deal: The cash buyer makes you an offer and lets you evaluate all the options. You can choose to sell to them only if you are satisfied with their services and offers.
- Zero Service Fees: 1-800-CashOffer doesn’t charge any transaction fees, commissions, or repair costs.
- Buys Distressed Properties: The cash company buys completely fire damaged and outdated homes in as-is condition.
» Pros and Cons of 1-800-CashOffer: Read further to know the advantages and disadvantages of the cash home buyer.
- Low Non-Negotiable Offer: 1-800-CashOffer buys homes for ~50% to 70% of the property’s market value, and is usually non-negotiable.
1-800-CashOffer has 5 out of 5 stars from 1 customer review on the Better Business Bureau.
» 1-800-CashOffer Reviews: Read our in-depth analysis on the cash buyer.
1-800-Cash Offer is one of the oldest cash home buyer networks in the U.S. You can call on +1-800 toll-free to request cash for your property.
You may not get maximum cash for your house, though. These home cash buyers will only offer up to 70% of the home’s fair market value.
3. ASAP Cash Home Buyers
NATIONWIDE COVERAGE
Service Fee: NoneASAP Cash Home Buyers, founded in 2013, offers quick and hassle-free home sales. It specializes in assisting homeowners who need to sell their property fast for cash.
- Service Fee: None
- Typical Offer: 50% to 70% of the Fair Market Value (FMV)
- Eligible Properties: The company buys properties that have structural issues, have bad mortgage financing, and are located in high-crime areas. They also offer cash for inherited houses and empty lots.
- Closing Offer Terms: You close the deal 3 weeks after accepting the offer. You also have the option to choose a closing date that suits your needs.
👉 Our Take: ASAP Cash Home Buyers is a good choice if you want to save on repair costs. However, you have to settle for a price that’s almost half of the home’s fair market value when you sell as is.
- Nationwide Coverage: The cash home buyer offers its services in all the 50 states of the U.S.
- Flexible Closing Date: You can choose a closing date that works best for you.
- No Hidden Costs: ASAP Cash Home Buyers mention all their fees upfront.
- Purchase of Distressed Home: You can sell your home as-is to save time and help close the deal faster.
- Varying Level of Service: ASAP Cash Home Buyers partners with independent investors nationwide. Therefore, there’s no guarantee that you will work with a knowledgeable and responsive buyer.
- Only Purchase Homes: ASAP Cash Home Buyers does not buy property interests like timeshares, hotels, or rental communities. Thus, if you want to sell other properties, you need to consider other options.
- Limited Negotiation: Since they have a streamlined process, it can result in fixed terms and conditions. This means you have less opportunity to negotiate on the offered price.
ASAP Cash Home Buyers has a rating of 4.8 out of 5 stars with 40+ reviews on Google.
» ASAP Cash Home Buyer Review: Read our in-depth analysis.
ASAP Cash Home Buyers, based in Fort Lauderdale, FL is a dedicated team of real estate professionals. They specialize in fast transactions and provide a seamless home-selling process without any closing fees.
However, ASAP Cash Home Buyers will only give 50% to 70% of your home’s fair market value if it requires extensive repairs.
4. Express Homebuyers
As-Is Cash Home Buyer Network
Service Fee: NoneExpress Homebuyers specializes in making all-cash offers on distressed houses. They cater to home sellers who want to sell their houses fast without making any repairs.
- Service Fee: None
- Typical Offer: You can get up to 50% to 70% of your house’s fair market value (FMV).
- Eligible Properties: Express Homebuyers specializes in inherited houses, homes sold after divorce, foreclosure properties, rental properties, and more.
- Closing Offer Terms: While they usually close within 2 to 4 weeks, they have a flexible closing timeline and can buy your home at your convenience.
- Flexible Closing Date: Closing dates can be finalized as per the home seller’s terms.
- No Charges or Fees: Express Homebuyers does not charge you any fees. You will receive the full selling price based on market research and the house’s conditions.
- Sell As-Is: You need not prep the home for listing, home staging, or worry about making repairs.
- Poor Customer Support: Previous clients have complained about their lack of communication and half-hearted responses.
- Non-Negotiable Offer: Your house will receive a non-negotiable cash offer. You must either accept or decline the offer without requesting changes or modifications. The offer will not be more than 80% of the property’s Fair Market Value.
Express Homebuyers has a rating of 4.4 out of 5 stars with 150+ reviews on Google Reviews.
» Express Homebuyers Reviews: Is there no service fee?
Express Home Buyers is a cash-buying company with nearly 2 decades of experience. Their expertise can get you the best deal while selling your house as is.
However, they have poor customer support which can delay your sale.
5. Enlight Homebuyers
4.2/5
(out of 32 reviews)Local Cash home Buyer
Service Fee: NoneEnlight Homebuyers is a local cash home buyer in New Mexico serving since 2015. The company buys distressed homes in any condition throughout New Mexico.
- Service Fee: None
- Typical Offer: 50% to 70% of Fair Market Value (FMV)
- Eligible Properties: Distressed properties like old and molded houses, foreclosed properties, bad mortgage financing, inherited houses, etc.
- Closing Offer 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.
» What Is Enlight Homebuyers: Read this to know more about the company.
- 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.
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 has a rating of 4.2 out of 5 stars with 32 reviews on Google.
» Enlight Homebuyers Reviews: Read our in-depth review on Enlight Homebuyers.
Enlight Homebuyers is a local cash home buyer located in Albuquerque. Founded by Andy McFarland in 2015, it buys distressed properties as-is for cash throughout New Mexico. Using Enlight Homebuyers is like hitting the easy button when selling your house.
They also deal in properties facing foreclosure in New Mexico.
Are Companies That Buy Houses for Cash in NM Legit?
Yes, companies that buy houses for cash are legitimate and operate legally nationwide. In fact, the National Association of Realtors (NAR) validates cash buyers in NM. However, be sure to read company reviews and seller testimonials to find a legitimate cash buyer.
3 Types of Companies That Buy Homes in New Mexico
- We Buy Houses for Cash Companies: Cash buyers like HomeVestors purchase distressed homes, typically paying 30% to 70% of their FMV.
- iBuyers: iBuyers, such as Opendoor and Offerpad, provide instant cash offers between 70% and 80% of the FMV. They have strict eligibility requirements, limiting the types of homes they purchase.
- Home Trade-In Services: Companies like Knock or Orchard offer cash for your home before you move out. The home trade-in service companies often use advanced technology to quickly evaluate the market and other details.
4 Steps to Sell Your Home for Cash in New Mexico
Not sure how to sell your home for cash in New Mexico? Just follow these 4 steps:
- Find a Cash Home Buyer: Research all local companies buying houses for cash and opt for one with great client testimonials.
- Request an Offer: Once you’ve selected a cash buyer, request an offer on their website. You’ll have to provide information like the property type, number of rooms, asking price, etc.
- Schedule a Home Visit: A company representative will then inspect your house. The final cash offer will be based on the outcome of this inspection.
- Close the Deal: If you’re happy with the offer, finalize the deal. Remember to get all the paperwork for selling a house without a Realtor verified by a real estate attorney.
How Much Do Cash Buyers in New Mexico Pay?
New Mexico cash house buyers usually offer between 30% to 70% of a home’s After-Repair Value. However, it depends on factors like the company you’re selling to, their service fees, etc. Here’s how the After-Repair Value is calculated:
After-Repair Value (ARV) = Property Purchase Price (PPP) + Cost of Repairs (COR)
Imagine if you were selling your $345,300 home in New Mexico. With a traditional cash home buyer, you could get just $241,710. But on a cash buyer marketplace like Houzeo, you could get multiple offers, potentially driving your sale price to 100% of its FMV.
| Service Provider | Service Fee | ARV Estimate | Actual Offer |
| Cash Buyer | None | 70% | $241,710 |
| iBuyer | 5% | 80% | $276,240 |
| Houzeo | $199* | Up to 100% | $345,101 |
» Houzeo Reviews: Find out why Houzeo is New Mexico’s best cash buyer marketplace.
Pros and Cons of Cash Home Buyers in New Mexico
Given that more sellers are opting for cash buyers in New Mexico, here are some pros and cons you must consider before you sell with them:
✅ Pros
- Fast Cash Offers: “We Buy Houses for Cash” companies extend offers within 24-48 hours.
- Flexible Closing: Cash buyers in New Mexico close quickly and on your timeline. So you can sell your home anywhere between 7 days to 30 days.
- No Repair Costs: Most cash buyers purchase properties as-is. This eliminates the need for repairs, saving thousands of dollars.
❌ Cons
- Lowball Cash Offers: New Mexico cash house buyers typically pay only 30% to 70% of a home’s FMV. So you leave a significant amount of your home’s equity on the table.
- Non-Negotiable Deals: Such cash offers are usually take-it-or-leave-it. There’s little to no room for negotiation, which limits your ability to secure a better offer.
- Possible Closing Costs: Some cash buyers might force you to pay seller closing costs in New Mexico. Always check the terms, or you could be out 6.25% to 9%!
Common “We Buy Houses for Cash” Scams 🚩
If any New Mexico cash home buyer extends an offer that seems to-good-to-be-true, it probably is. Stay alert, and don’t fall victim to the following scams.
- Bait-and-Switch Offers: Scammers present appealing offers and then change them later, hoping you’ll accept out of desperation. Always verify the terms before you sell your house for cash or accept an offer.
- Deed Fraud: Fraudsters can sell or mortgage your home without your consent using fake documents. Check customer testimonials and online reviews before you select a cash buyer.
- Loan-Flipping Scams: Some scammers may pressure you to sell your home fast for cash by offering loans that drain your equity. Always consult a trusted advisor before agreeing to any cash offer.
- Email Phishing: Scammers send fraudulent emails pretending to be agents, title companies, or lenders. They trick you into wiring money or providing personal details for fake services. Always confirm the authenticity of any cash offer for a home via a phone call.
» We Buy Houses Ripoff: Learn how to avoid falling victim to the scam.
Alternatives to Companies That Buy Houses for Cash in New Mexico
- Flat Fee MLS Services: You can get up to 100% of your home’s FMV with a New Mexico Flat Fee MLS listing service. Your home is visible to multiple cash buyers, increasing your offers.
- For Sale By Owner: In a FSBO sale, you’ll have to opt for “DIY” marketing strategies like using yard signs, word of mouth, open houses, etc. New Mexico FSBO websites also limit your home’s exposure, which lowers your home sale price.
- Full-Service Realtors: They provide various services from listing to closing, but charge a hefty 5% to 6% commission.
- Discount Real Estate Brokers: They offer services like contract review and negotiation for a lower fee than traditional agents. Discount brokers in New Mexico charge between 0.5% to 2.5% as commission.
Should You Sell to Cash Home Buyers in New Mexico?
Yes, you can sell to cash buyers. But say goodbye to 30% to 70% of your home’s equity. That’s the price you pay for a quick sale. On the other hand, on a cash buyer marketplace, you can get multiple offers, sell fast, and potentially keep more money.
