Real estate contracts are complex. The more a person understands them, the better equipped they are to safeguard their own interests. Taking advantage of the free training provided by New Mexico Real Estate Skills helps people avoid many common real estate contract mistakes. This is a huge benefit for anyone pursuing a career in New Mexico Real Estate Buyers or someone looking to invest in property.

As the housing market cools from a frenzy of buying activity spurred by record-low mortgage rates, some homeowners in New Mexico are considering selling their properties quickly. These sellers may be looking to relocate, settle estates, or eliminate unmanageable tax burdens. They may also be in need of a quick sale to avoid foreclosure. Regardless of the reason, it’s important to weigh each real estate transaction process option carefully to ensure what’s optimally aligned with priorities and goals.

The most traditional way to sell a property in New Mexico is through a listing with a Realtor. A full-service, in-person Realtor will provide hand-holding throughout the entire process. However, this method can take longer than other options. Plus, a Realtor will typically charge a 5% to 6% commission on the sales price of your property.

One alternative is to hire a company that buys houses. Companies like Opendoor, We Buy Ugly Houses, HomeVestors, and Offerpad purchase homes directly from sellers. They often make offers within 24 to 48 hours of a home’s inspection. Since these companies are investors who don’t plan on living in the homes they purchase, they can usually offer you a lower-than-market-price and will require repairs from home inspectors before closing.

Another option is to turn your property into a rental with a buy-and-hold cash buyer. These buyers will upgrade your property and rent it out for a consistent source of income. They are more likely to be interested in a distressed property than a typical homebuyer. However, they are also more likely to request higher-than-market-price terms and concessions from sellers.

Finally, there is a third option to consider – wholesaling. With this strategy, you will take ownership of a property and perform high-return renovations to increase its value. You will then re-list the property on the MLS to access a wider pool of potential buyers. This approach is a bit more risky than a full-scale flip and requires more experience in the industry to succeed.

Whatever the situation, it’s important to seek guidance from an experienced Realtor who can advise on what options are best for your specific needs. Your Realtor can help you determine what is a fair purchase offer based on comparable sales in your area, and negotiate the final terms of sale to get you the best possible outcome. They can even recommend other trusted professionals to work with during your home transaction, such as mortgage brokers, real estate attorneys, home inspectors, and movers. With the right team, a successful real estate transaction can be just a few clicks away.