Buying property through a tax sale in New Mexico could be a lucrative investment. These sales allow you to purchase property for a price as low as the total amount of taxes, penalties, and accrued interest on the property, bypassing the actual market price.
However, tax sales pose some risks — and you shouldn’t go it alone. PureTitle can be your trustworthy guide through the tax sale process, whether you’re an interested buyer or a legal professional representing an investor.
We provide comprehensive tax sale services in New Mexico, including guaranteed tax sale insurance, title research, and more.
Navigate New Mexico Tax Sales Successfully With PureTitle
Whether you are an investor considering bidding on a tax sale or a legal professional who represents investors, PureTitle can act as your “virtual paralegal” throughout the tax sale process. We have helped thousands of customers purchase tax-distressed properties since 2018.
Purchasing a tax sale title is a smart choice for those who want to buy houses to flip and sell or simply avoid the chaos of the real estate market. But tax sales come with a range of liabilities that you may be unaware of at the time of purchase.
Allow PureTitle to help you gain confidence in your tax sale purchase. We’ll provide guaranteed title insurance and conduct thorough research to help you understand the property’s history and interested parties.
What Is a New Mexico Tax Sale?
A tax sale allows investors to bid on property that has gone to tax collections.
In New Mexico, if a property owner fails to pay property taxes for more than two years, they enter a “tax delinquency list.” After three years on this list, the Tax and Revenue Department will auction off the property to pay the tax debt.
As a result, by the time a property enters a tax sale in New Mexico, the property owner is at least five years behind on taxes, interest, and other fees. The property owner does not have the option to redeem the home after the sale, but as the buyer, you still face other risks from the tax sale.
You’ll be responsible for paying the back taxes and covering other liens on the home. You could face steep fees that you were unaware of at the time of the sale.
That’s why having PureTitle in your back pocket proves crucial to successfully navigating a tax sale. We’ll give you the information you need to make a smart purchase.
What Happens at a New Mexico Tax Sale?
New Mexico tax sales are public auctions where the Tax and Revenue Department sells delinquent tax properties to the highest bidder. While tax lien sales look different in every state, in New Mexico, the highest bidder receives the title to the property at the tax sale and officially becomes the new owner.
The Department sets the minimum bid for tax sale properties. This price cannot be lower than the total amount of all delinquent taxes, interest, penalties, and costs on the title. While the auction structure of the sale will likely increase the sale price beyond this minimum, you can still expect to get a good deal on a property compared to the market price.
Our Tax Sale Services in New Mexico
At PureTitle, we give you the information and guidance you need to feel confident heading into a tax sale. Our tax sale services in New Mexico include:
- Guaranteed title insurance: We make it easy to purchase comprehensive title insurance on your new property.
- Abstract and interested parties research: We will provide a New Mexico insurable abstract, including property research, a complete list of all interested parties, and thorough Mennonite research.
- Title insurance packages: Our affordable and comprehensive service packages lower the costs involved in tax sale research and title insurance.
PureTitle: Your Tax Sale Partners in New Mexico
Partner with PureTitle and gain complete assurance in your title purchase through the services we offer. Call us today at (504) 300-0520 for an estimate for tax sale services in New Mexico.
