About This Property
Owner financing: $99 down plus a $195 document fee. Financed price $8,975. Term options: 1 year at 0% ($739.67/mo); 2 years at 9% ($405.50/mo); 5 years at 9% ($184.25/mo); 9 years at 9% ($120.21/mo). Pay-in-full price: $8,077 (10% cash discount). Per the seller, no business or commercial use is allowed while the property is under a loan contract. Property Overview This is virtually unrestricted land for sale in New Mexico. Rio Grande Estates is a mostly undeveloped subdivision in Socorro County. Lot 20 was originally platted as a commercial property. However you are not limited to commercial uses. You can RV or camp on your property indefinitely while you hold it for investment. Or you can build your dream homestead. There are no subdivision restrictions, you just have county and state regulations. You will have great mountain views. There are no Property Owners Association or Home Owners Association. Property Description and Access Lot 20 is a large, approximately 0.7 acre property. It is conveniently about 200 yards from Highway 60. Interstate 25 and Highway 47 are also just a few minutes away. Power is nearby but has not been run to this property. However it is only 175 yards away. You might choose to use solar anyway. If you want to look into having electricity, please contact the electric utility PNM. For water you can contact a well driller to see if that is a good choice for you, or use haulage. Driving Directions From Los Lunas, drive south on Interstate Highway 25. 28.2 miles later take Exit 175 for US-60 E toward Bernardo / Mountainair. 0.1 mile later continue onto US-60 E. 6.4 miles later turn right onto Escobar Street. 0.2 mile later turn right at. It looks like nobody has driven on this road for a while. You might need to be driving a pickup or SUV, you will need to judge it when you are there.
Location
Rio Grande Estates - Socorro, Unit 15, Block 1011, Lot 20, Socorro County, NM
Owner Finance Terms
Owner finance agreements are subject to state and local laws. Always consult a licensed real estate attorney in NM before signing any agreement.
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