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 Rio Grande Estates is a mostly undeveloped subdivision in Socorro County. Lot 14 is about 175 yards away from U.S. Highway 60, and the turnoff onto Escobar Street is less than 3 miles from the intersection of HIghway 60 with State Highway 304. This is virtually unrestricted land for sale in New Mexico. This property was originally laid out as a commercial lot, as indicated by the four digit block number. Highway 60 goes to the east past Amarillo, Texas. On its way through New Mexico it goes through Socorro, Datil, Encino, and Clovis. To the west it goes to and past Phoenix, Arizona. There is no zoning in Socorro County, so you are not limited to commercial uses for Lot 14. You can RV or camp on your property indefinitely while you hold it for investment. There are no subdivision restrictions, you just have county and state regulations. There are no Property Owners Association or Home Owners Association. Lot 14 is approximately 0.7 acre. Utilities have not been run to the property, but power is only about 150 yards away. If you want to construct a residence then you will need to discuss building permit requirements with the New Mexico Regulation and Licensing Department Construction Industries Division at 505-476-4700. The mountain views are great. You will be close to Belen and Los Lunas, and can take advantage of the passenger rail system for trips to Albuquerque and Santa Fe. Property Location Cheap land of good quality is getting harder to find.
Location
Rio Grande Estates - Socorro, Unit 15, Block 1011, Lot 14, Socorro County, NM
Outline shown is about 0.7 acres. Approximate boundaries from GIS or the seller, not a survey. Get a survey before you build or fence.
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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