The terms every sale is made on

1Who we are

NMLOT (“we”, “us”) is a New Mexico business based in Albuquerque, New Mexico that buys vacant land and sells land it owns. We are not licensed real estate brokers or agents, we do not represent buyers or sellers, and nothing on this site is legal, tax, investment or engineering advice. Where you want advice, take it from someone licensed to give it.

2Sold as-is, on your own inspection

Every parcel is sold as-is, where-is, with all faults, on the basis of your own inspection and judgement. We make no representation or warranty of any kind — express or implied — about acreage, boundaries, corners, access (legal or physical), road condition or maintenance, utilities, water, wells, soil, drainage, flood status, minerals, zoning, covenants, permits, what may be built or placed on the land, suitability for any purpose, value, or future resale. Figures on a listing come from public records or from a previous owner, are identified as such, may be wrong or out of date, and are provided as a convenience, not as a promise. A county parcel map is a record, not a survey.

It is your responsibility to verify anything that matters to you with the county assessor, treasurer, clerk and planning department, with a licensed surveyor, and by visiting the land, before you buy. Visits to land we own are at your own risk.

3Prices, listings and errors

Prices, payment terms and availability may change at any time until a contract is signed. A listing is an invitation to make an offer, not an offer; no sale exists until we have accepted your payment and countersigned the paperwork. Where a listing contains an obvious error — a price, an acreage, a photo of the wrong parcel — we may correct or withdraw it and refund any money paid on it in full, which is the whole of our liability for the error.

4Earnest money

The earnest money paid on a listing takes the lot off the site while the paperwork is prepared and is credited in full toward the purchase price or down payment. It is non-refundable. It is the buyer’s commitment to proceed and the consideration for our taking the lot off the market. On a cash sale the balance is due within seven days of the earnest money; on a financed sale the signed, notarised contract and the balance of the down payment are due within ten days. If either is not met, or you otherwise do not proceed, the earnest money is retained as liquidated damages for the time the lot was held, not as a penalty, and the lot may be re-listed. The one exception: earnest money on a lot that turns out to be unavailable through our error is refunded in full. Do your checking before you pay it.

5Fees

A paperwork fee of $250 applies to every sale. It covers drawing the deed or contract and the county’s recording fee for the deed into your name. On a financed sale it is added to the amount financed. It is not refundable once the paperwork has been prepared. There are no commissions or other closing costs charged by us; costs you choose to add — a title company, title insurance, a survey — are yours.

6Cash sales

On payment in full we prepare a special warranty deed, sign it before a notary and send it to the county clerk for recording. A special warranty deed warrants title only against matters arising during our ownership. Recording is done by the county on its own timetable. No title insurance is included; you may obtain a title search or policy from any title company at your own cost, before or after closing.

7Owner financing — contract for deed

A financed sale is a contract for deed. Title stays in our name until the balance is paid in full, at which point we deed the land to you as in section 6. Until then: (a) the monthly payment is due on the day the contract names; (b) a payment not received within the grace period stated in the contract incurs the late fee stated there, once per missed month, and may be applied ahead of interest and principal; (c) you are responsible for the yearly county property tax and any owners’ association dues on the land from the date of the contract; (d) you may visit the land at your own risk, but may not live on it, build on it, clear it, or place any structure, vehicle or other property on it without our prior written consent; (e) the contract may not be assigned or assumed without our written consent; (f) extra payments may be made at any time without penalty and are applied to principal.

If you fail to pay or otherwise break the contract and do not cure it within the time the contract allows after written notice, the contract terminates, the land remains ours, and all amounts paid to that date — deposit, down payment, monthly payments and fees — are retained by us as the agreed consideration for the time you held the land and as liquidated damages, not as a penalty. We may re-sell the land to anyone.

8Payments

Card and bank-account payments are processed by Stripe under its own terms; we never see or store card details. A payment is credited when it clears, and a check when it has cleared our bank. A returned or disputed payment is treated as unpaid, and its costs are yours. Autopay can be turned on and off from your account page and stops on its own when the balance is zero.

9Buying land from you

An offer we make for your land is an offer only until a purchase agreement is signed by both sides; either side may walk away before that. We pay the closing costs we say we will pay on the sell page. A sale closes only when the signed deed has reached us or our title company and funds have been released to you; we may withdraw before closing if the title is not as represented.

10This site

The site is provided as-is and may be unavailable or contain errors. Maps, imagery and boundaries are from public and third-party sources and are illustrative. You may not scrape, copy or republish listings, or use the site to identify property owners for any purpose other than buying from us. Email addresses you give us are used as described in our privacy notice.

11Limit of liability

To the fullest extent New Mexico law allows, our total liability to you for anything arising from this site, a listing, earnest money, a sale or a contract is limited to the amount you actually paid us for the land concerned, and we are not liable for indirect, consequential, or lost-profit damages of any kind. Nothing here limits liability that cannot be limited by law.

12New Mexico law

These terms and every sale are governed by the law of the State of New Mexico. Any dispute is to be brought in the state or federal courts sitting in Bernalillo County, New Mexico, and both sides consent to that venue. If any part of these terms is found unenforceable the rest stands.

13Changes and contact

We may update these terms; the date at the top is the version in force, and the version in force when you paid is the one that applies to that sale. Questions to benny@nmlot.com.