New Mexico’s stunning vistas, rich history and abundant outdoor activities make it a desirable place to live. Land ownership in this Southwestern state is a popular investment opportunity, and for those who have land to sell, there are several avenues for doing so. The decision of whether to sell a property For Sale by Owner (FSBO) or work with a real estate agent often hinges on the property’s specific attributes and local market trends. Quality guidance from an experienced real estate advisor can help ensure a successful and smooth land sales process.
For example, a land seller should research the property’s history and recent sales to determine an asking price. A knowledgeable advisor can also help a buyer understand the local real estate landscape and how current trends impact values. This information can improve the negotiating position for both parties, especially if it is provided before negotiations begin.
Landowners who choose to sell their properties FSBO should invest effort making the land show ready through cleanup, repairs and boundary markings. Then, they should promote the listing across multiple online advertising platforms and network locally to connect with potential buyers in person. Additionally, the availability of electricity, water and sewer connections may enhance a property’s appeal to buyers, particularly if the site is remote.
In addition to ensuring the right New Mexico owner land sale terms, it is crucial for New Mexico land sellers to have all documentation in order. This includes a written contract, disclosures and an environmental site assessment report. These documents should be prepared by a qualified real estate professional. One misstep during the sales process can derail a deal or leave the seller open to legal liability.
When selling a piece of New Mexico real estate, it is important to consider the effects of broader public policy issues on demand and pricing. Land-grab bills, for example, continue to make their way through legislatures in many states, with the ultimate goal of confiscating forests, refuges, parks and other shared public lands from individual Americans. If the government continues to sell off our national public lands, recreational opportunities in these areas will diminish as private interests buy up all available acreage and lock it up for their exclusive use.
To counter this trend, New Mexico land owners can explore alternative paths to sales such as seller financing. With this strategy, the seller and buyer agree to a payment plan without the involvement of a bank. As a result, buyers can avoid the strict requirements and lengthy wait periods that banks require, and they can get into the land they love faster. Increasing popularity among hunters, sellers can also offer hunting leases that increase the value of a property by providing a source of income to the seller in return for the opportunity to hunt on their land.