A New Mexico Property Disclosure Statement is a document completed by the seller of a residential property and given to potential buyers to relay the property condition. New Mexico law dictates that the seller must provide information about any adverse material facts that may affect the property and its value. These may include issues regarding plumbing, sewage, termites, and soil stability.
This form does not diminish the buyer’s responsibility to perform their own due diligence, and they should carefully examine the premises before purchase.
Purchase Agreement – Prior to the signing of the purchase agreement, potential buyers must be informed of the estimated property tax levy, of whether the property is subject to the Homeowners’ Association Act, and if it is located in a Public Improvement District.
