NMLOT
benny@nmlot.com

BUYING FROM US

How closing works

There are three ways to buy a piece from us. Two close with a notary and no title company, which is fast and costs you nothing extra. The third brings in a title company, which is slower and costs more, and is there for anyone who wants the extra layer.

01

Pay in full, close by notary

Most lots. Anything you are paying for outright.

  1. 1Put the earnest money down on the listing page — it is non-refundable and counts toward the price — and the lot comes off the site. This is a cash purchase: only hold it if you are ready to pay the whole price.
  2. 2We draft the deed, usually within a business day, and email it to you to read with how to pay the balance: card, bank, wire or cashier's check. The balance is due within 7 days.
  3. 3We sign the deed in front of a notary and send it to the county clerk for recording.
  4. 4The county records it and mails the original to you. Their timing is theirs — most take two to four weeks, some longer. You can see the recorded deed on the county's own site before it arrives.

WHAT IT COSTS YOU
The price and the $250 paperwork fee, which covers drawing the deed and the county's recording fee.

Sold as-is, where-is, by special warranty deed. No title insurance is included; you can buy a policy from any New Mexico title company, before or after, if you want one.

02

Owner financing

Any lot with a monthly price. No bank, no credit check.

  1. 1Put the earnest money down on the listing page. It is non-refundable, it holds the lot for you, and all of it counts toward your down payment. We send you the contract for deed to read, usually within a business day, with the maps.
  2. 2Sign it in front of any notary — your bank, a UPS Store, the county clerk; it takes five minutes — and send it back to us within 10 days, with the rest of the down payment. We countersign and hold it. That is the whole closing.
  3. 3The land stays in our name while you pay, and the contract says so in plain words. You may visit it, at your own risk; you may not live on it, build on it or place anything on it until it is paid off and deeded, unless we agree in writing. The yearly county tax and any owners' association dues during the contract are yours. The deed transfers when the balance clears.
  4. 4Pay monthly — autopay from your account page, or by check. Every payment and your balance are on your page at any hour. When the balance clears we sign the deed before a notary and send it to the county for recording; the paperwork fee covers the recording.

WHAT IT COSTS YOU
The price, the down payment you choose, and a $250 paperwork fee that is financed into the contract, not charged up front. The recording fee at payoff is covered by it.

We hold the contract ourselves, the way New Mexico land sellers have for decades. No loan servicer, no escrow company, no title company unless you want one — if you have a question about your balance, the person who answers the email can see the ledger.

03

Close through a title company

Optional, for anyone who wants title insurance or a third party holding the money.

  1. 1Put the non-refundable earnest money down on the listing page and tell us you want a title company close.
  2. 2We send the purchase agreement, usually within a business day; sign and return it within 10 days and we open the file with a New Mexico title company of our choosing.
  3. 3They search the title, issue a commitment, and ask you for the balance and us for the signed deed. This usually takes four to six weeks.
  4. 4They record the deed, disburse the funds and send you a title insurance policy.

WHAT IT COSTS YOU
The title company's fees, which you pay, run roughly $750 to $1,500 in New Mexico depending on the county and the price.

Slower and dearer, and it buys you an insured title and an intermediary. Worth it on a bigger piece; your call on a smaller one.

What kind of deed do I get?

A special warranty deed, recorded in your name with the county clerk. It warrants the title against anything that happened while we owned the land, and nothing before — which is the honest promise for land that has changed hands many times. Title insurance is available separately if you want the rest covered.

Why a notary?

A deed or a contract for deed is only as good as its signatures, and New Mexico counties will not record either unless they were notarised. Any notary will do — banks and shipping stores have one — and it takes five minutes.

Who holds the deed while I am paying?

We do. A financed sale is a contract for deed: the land stays in our name, the contract binds us to deed it to you when the balance clears, and you can use the land in the meantime. The contract spells out the few things it asks of you while it runs — the yearly county tax, and a word with us before you build.

What if I stop paying?

Talk to us first — a missed month is a phone call, not a default. If a contract does go into default, it ends, the land stays ours, and everything paid to that point — deposit, down payment, monthly payments, fees — is kept as the agreed charge for the time you held the land. That is what the contract says. We would rather it never came to that.

Can I check the title myself?

Yes, and we would encourage it. Every listing links to the county assessor and clerk records for that exact parcel. A title company will also search it for a fee, whether or not you close through them.

Is any of this legal advice?

No. It is how we do business, in plain words; the contract and our terms of sale are what binds either of us, and where this page and they differ, they win. If you want a lawyer to read the contract before you sign, send it to one — we will wait.

Questions before you buy?

Email benny@nmlot.com and a person answers. We will tell you plainly if a piece is wrong for what you want.

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