NM

Bidder process

1. 01Real property may not be sold for delinquent taxes before the expiration of three years from the first date shown on the tax delinquency list on which the taxes became delinquent (N.M. Stat. 7-38-67(A))
2. 02Before the sale the department determines a minimum sale price that may not be less than the total of all delinquent taxes, penalties, interest and costs (N.M. Stat. 7-38-67(E))
3. 03Register as a bidder on the day of the sale; bidding is oral and a bidder must be physically present or represented by an agent presenting a notarized authorization (NM Taxation & Revenue Department, Delinquent Property Tax Auctions)
4. 04Bid at the public auction, held either by the department or an auctioneer hired by the department, in the county where the real property is located (N.M. Stat. 7-38-67(C))
5. 05Pay the amount bid in full by the close of the public auction (N.M. Stat. 7-38-67(F)); acceptable payment forms are a cashier's check, money order, personal check or company check, and personal or company checks require a bank letter of guarantee (NM Taxation & Revenue Department, Delinquent Property Tax Auctions)
6. 06A sale properly made under Section 7-38-67 constitutes full payment of the delinquent taxes, penalties and interest that are a lien against the property at the time of sale and extinguishes that lien (NM Taxation & Revenue Department, Delinquent Property Tax Auctions)

Registration

Yes

Registration mode

in_person

Registration deadline

Registration closes promptly at the start of the sale (NM Taxation & Revenue Department, Delinquent Property Tax Auctions).

Registration fee

Not documented

Deposit required

Not documented

Deposit amount

Not documented

Deposit percent

Not documented

Deposit refundable

Not documented

Sale format

in_person

Payment deadline

Payment shall be made in full by the close of the public auction before an offer may be deemed accepted by the department (N.M. Stat. 7-38-67(F)).

Payment methods

certified_funds, check

Residency required

Not documented

• An agent representing a bidder must present, upon registration, a notarized document authorizing the agent to act for the party the agent will represent (NM Taxation & Revenue Department, Delinquent Property Tax Auctions)
• A letter of guarantee from the issuing bank must accompany a personal or company check at the time of registration (NM Taxation & Revenue Department, Delinquent Property Tax Auctions)