Top 5 We Buy Houses for Cash Companies in New Mexico

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By Jamie Ayers Updated August 17, 2022

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We Buy Houses company reviews | What they do | How they work | How much they pay | How much they cost | Pros and cons | Alternatives | FAQs

We Buy Houses companies in New Mexico offer cash to homeowners that need to sell quickly. We reviewed the top New Mexico We Buy Houses companies so you can shop around for an offer and make an informed decision.

💡 Key takeaways

  • We Buy Houses companies can help you sell fast, but they're not a great deal in most cases
  • You'll only get about 70% of the actual fair market value of your home by selling to one of these companies
  • You should compare offers from We Buy Houses companies and iBuyers in your area to make sure you get a fair price. Get offers from top local cash home buyers now!

Top New Mexico We Buy Houses companies reviews

We Buy Houses companies and other cash buyers allow you to sell your home fast — sometimes in a week or less. We've pulled together some of your best options in New Mexico, but we recommend using Clever Offers if you want to get the most value for your home.

With Clever Offers, a local agent can shop for cash offers from the top We Buy Houses companies in New Mexico on your behalf. You'll also get a professional home valuation so you know what your home is REALLY worth. Your agent can negotiate to get you a fair deal, or list your home on the open market if you want a higher sale price.

Get fair cash offers today!

Use Clever's free, no-obligation service to compare cash offers from top local companies with the help of a local real estate agent. You'll get a professional home valuation so you know what your home is worth, and an agent can negotiate on your behalf to make sure you get the best deal.

✍️ Editor’s note

The information in the reviews below is publicly available. Unfortunately, though, We Buy Houses companies are not particularly transparent or willing to share information with non-clients.

Our advice:

  • Read any contracts carefully

  • Don’t pay for anything upfront

  • If it doesn’t feel right, walk away

  • Reach out to multiple companies and compare offers

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Express Homebuyers

Website

Phone Number

877-804-5252

Time to Offer

7 minutes

Time to Sale

7 days
Why we chose it
Details
Locations
Reviews

Express Homebuyers is really fast: it provides offers in just minutes and can close in just a week in many circumstances. Plus, the company has mostly positive reviews on Google.

Express Homebuyers is a national service that has partnered with local investors across the country to buy houses for cash.

Steps to sell with Express Homebuyers:

  1. Submit your home's information to receive an initial "as is" offer
  2. Meet with the local investor to assess your property and answer any questions
  3. Discuss the local investor's final cash offer and, if you're willing to sell, sign a sales agreement then and there
  4. Choose a closing day on your schedule
  5. Show up on the day of the sale to sign the paperwork and receive cash within hours

Express Home Buyers received an average of 3.7 stars from 261 customer reviews. It's accredited by the Better Business Bureau, and it has a B+ rating.

Google: 4.2 stars/122 reviews
Facebook: 4.6 stars/113 reviews
Yelp: 2.5 stars/26 reviews

Enlight Homebuyers

Website

Phone Number

(801) 939-0123

Time to Offer

24 hours

Time to Sale

3 days
Why We Chose It
Details
Locations
Reviews

Enlight Homebuyers is on our list because it's a local buyer that can close in just a few days in some cases, which is faster than many other "we buy houses" companies.

Enlight Homebuyers is a Utah investing company that buys homes for cash in select areas across Utah.

To sell your home to Enlight Homebuyers:

  • Schedule a home visit or phone appointment to relate the details of your property to an Enlight representative
  • Get a cash offer on-site or over the phone
  • Close on your own schedule - in some cases as soon as 48 hours after

Enlight Homebuyers buyers houses across Utah, including the following counties:

  • Salt Lake
  • Utah
  • Davis
  • Cache
  • Weber

Enlight Homebuyers received an average of 3.3 stars from 89 customer reviews. It's accredited by the Better Business Bureau, and it has an A+ rating.

Google: 3.9 stars/78 reviews
Facebook: 2.8 stars/11 reviews

We Buy Houses

Website

Phone number

(877) 932-8946

Time to offer

24–48 hours

Time to sale

7–14 days
Why we chose it
Details
Locations
Reviews

We Buy Houses vets all of its investors and gives them an exclusive license to operate in its territory, so investors who use the brand name have an incentive to work hard in order to maintain their advantage. The company provides offers in just one to two days and can close in a few weeks.

We Buy Houses is a national property investor that buys homes for cash throughout the U.S. To sell your home to We Buy Houses, you can:

  • Submit an online form, giving details about your property
  • Set up an appointment for an investor to view your home
  • Receive a no-obligation offer
  • Choose a closing date and sell your home

We Buy Houses operates in 200 markets in over 30 states.

Reviews online are available only for local franchises.

The vast majority are positive, with customers saying that the We Buy Houses investor they worked with was fast and professional.

We Buy Ugly Houses

Full review

Phone Number

(866) 288-9516

Time to offer

Varies

Time to sale

Varies
Why we chose it
Details
Locations
Reviews

We Buy Ugly Houses is a nationally recognized brand with a solid reputation. The company has over 800 franchises across the U.S., so be sure to check reviews for the individual location you plan to contact.

We Buy Ugly Houses is a property investor that buys homes for cash in over 800 locations across the U.S. To sell your home to We Buy Ugly Houses you can:

  • Submit information about your property online or by phone and set up an appointment for an investor to see your home
  • Show your home to the investor and receive a no-obligation offer
  • Set a closing date on your own schedule as soon as 3 weeks after accepting the offer

We Buy Ugly Houses has over 800 independently owned and operated franchises across 47 states and Washington, DC.

We Buy Ugly Houses's parent company, Homevestors, has an A+ rating on the Better Business Bureau. No other third-party reviews are available at this time.

This rating is based on overall national data. Research local franchises for specific reviews that reflect their quality of service.

505 Home Buyers

505 Home Buyers

Phone Number

(505) 633-5720

Time to Offer

24 hours

Time to Sale

7 days
Details
Locations
Reviews

505 Home Buyers is a local, New Mexico property investor that buys homes for cash in select cities across the state. To sell your home to 505 Home Buyers, you can:

  • Convey your home’s condition to the company through their online form
  • If they deem it to meet their criteria, receive a call to discuss specific details and options for sale
  • Receive a no-obligation offer within 24 hours and close within a week

For more information, including specific areas of operation, terms of service, and other details, we recommend reaching out to the company directly.

505 Home Buyers buys houses in Albuquerque, Rio Rancho, and all surrounding areas in New Mexico. To inquire about a specific location, contact the company directly.

505 Home Buyers received an average of 5 stars from 2 customer reviews.

Facebook: 5 stars/2 reviews

» LEARN: These are the best national We Buy Houses for Cash companies

What is a We Buy Houses company?

We Buy Houses companies and other cash buyers offer a fast solution for homeowners. They purchase houses "as-is" — that is, in their current condition, without any repairs or prep — and pay in cash.

These companies exist because the traditional home selling process doesn’t work for everyone. For example, in New Mexico, a typical home sale can take 109 days from listing to closing. Some homeowners can’t wait that long.

Further, these companies are another option for sellers with homes in such poor condition that they wouldn't qualify for financing from traditional buyers.

When to use a We Buy Houses company

For home sellers who need to sell in a hurry, want to avoid paying for repairs out of pocket, or are looking for a more convenient selling method, a cash buyer can be a great option.

But they're not right for everyone.

To ensure a profit, We Buy Houses for Cash companies in New Mexico make offers that are well under fair market value — about 30% less. On a $250,000 home, that means you'd lose out on around $75,000.

Put simply, the speed and convenience these companies offer don't always outweigh the hit you'll take to your bottom line. In many cases, you’re better off working with a full-service real estate agent on the open market to get the most value for your home.

Make more money selling your house!

Clever can match you with a full-service agent so you can sell fast and get top dollar for your home.

How a We Buy Houses company works

While the smaller details and timeline vary from company to company, We Buy Houses companies in New Mexico all share the same basic business model.

  • An interested home seller reaches out directly to the cash buyer company
  • The company assesses the property, focusing on factors like necessary repairs and potential resale value
  • Based on the amount of time and money it will to need to invest in the property, the company makes an "as-is" cash offer
  • If the homeowner accepts, the deal closes quickly because there's no need to negotiate, wait for financing approval, or inspect and appraise the property
  • The cash buyer repairs the home and then resells it for a profit

The quick process benefits homeowners who don't have the resources or time for a traditional sale.

For perspective, according to realtor.com, houses typically spend 64 days on the market in New Mexico before the seller accepts an offer. Then there's the closing process, which takes between 30 to 45 days if the buyer is applying for a mortgage. That means it can take the typical seller up to 109 days to finalize the sale.

In comparison, some We Buy Houses for Cash companies in New Mexico can complete the whole process in as few as seven days.

Traditional Process Cash Buyer Process
Prepping the House Days to months, depending on the condition None — these companies buy homes "as-is"
Time to Offer 64 days 2 days or fewer
Closing Process 30-45 days 7 days or fewer
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Ballpark vs. official offers

Many New Mexico We Buy Houses companies advertise that they'll send you an offer in as few as seven minutes. This is not an official offer.

After talking to a company representative, they'll give you a ballpark estimate of what they'll pay. Very few companies will make a binding offer sight-unseen — and if they do it'll be substantially lower to account for possible issues.

Once you schedule an in-person inspection, the company will present a legal offer, often on the spot.

Who actually buys your home

Some of the bigger, well-known We Buy Houses companies in New Mexico aren't actually buying your home. Instead, it's a network of local investors or the company simply refers interested sellers' information to local house flippers.

In these cases, how long the process takes will depend on the investors in your area.

For example, we called a few We Buy Houses companies that advertised offers in less than an hour… and none of them responded within that time frame.

We Buy Houses companies pros and cons

✅ Pros

  • Fast, certain cash offers: Most companies will send an offer within 24 hours. And, there's no chance of the deal falling through because a mortgage application is denied or the buyer gets cold feet.
  • Sell your home "as-is": These companies will usually buy your home regardless of condition (and deduct the cost of repairs from the offer price).
  • Schedule your own closing date: Instead of going through the typical 30-45 day closing process, you can close in as few as seven days.
  • Low closing costs: Many New Mexico We Buy Houses companies will cover typical closing costs. This can save you 1-3% of your final sale price.
❌ Cons

  • Lower offers: To ensure they make a profit, these companies will offer 70% of your home's market value, minus the cost of necessary repairs.
  • No negotiating: You can either take an offer or leave it. The company won't negotiate, even if you disagree with its evaluation of your property.
  • Predatory tactics: Many sellers considering a cash buyer are in a difficult situation, like foreclosure. Some companies, unfortunately, take advantage of your situation. Never sign anything because you feel pressured. Instead, be prepared to walk away if something doesn't feel right.
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Frequently-asked questions

What are the best alternatives to We Buy Houses companies?

How much will We Buy Houses companies in New Mexico pay?

We buy houses companies use the 70% offer rule to ensure they'll make a profit. Basically, the 70% rule says the buyer shouldn't pay more than 70% of the home's After Repair Value (ARV) — what they hope to sell the house for — minus repairs.

On a New Mexico home that would sell for $150,000 on the open market, they may only pay $105,000. Selling a home that's worth $300,000? You may only see an offer for $210,000.

How much does selling a home to a We Buy Houses company in New Mexico cost?

On the surface, nothing. These companies don't charge you fees to buy your home. You'll also avoid many traditional selling costs, like realtor commissions and closing costs.

When you add all these expenses up, selling to a cash buyer can have significantly fewer upfront costs than a typical home sale. However, given the lower prices they offer, the savings don't always make up the difference. You could end up with much less in your pocket at the end of the day.

Here's how much a seller in New Mexico can walk away with using your state's median listing price of $384,175, average selling costs, and carrying costs (that is, the daily cost of owning a home, including utilities, mortgage, and taxes).

Are We Buy Houses for Cash companies scams?

In general, We Buy Houses companies in New Mexico are not out to scam you. Some are national franchises and others are family-owned. In both cases, they rely on their reputation to close deals, so there is little incentive to scam people.

That being said, as with any industry, there are bad apples. If a "cash buyer" approaches you, check that they have an established web presence and customer reviews before giving them your personal information.

Also read all the fine print on any contract they present. Look up words or terms you don't understand. And never assume the contract says what you agreed to verbally.

Most importantly, look at the contract's contingencies. These are the conditions that allow the buyer to back out of the sale or change terms. Unless you understand the contingencies, you could be taken advantage of.

Additional resources for home sellers in New Mexico

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