A New Mexico Property Disclosure Statement is a document completed by the seller of a residential property and given to potential buyers detailing 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 problems.
This form does not diminish the buyer’s responsibility to do their own due diligence, and they should carefully examine the premises before purchase.
Laws – 184.108.40.206(a)(5)
Purchase Agreement – Prior to the signing of the purchase agreement, potential buyers must be informed if the property is subject to the Homeowners’ Associaton Act, if it is located in a Public Improvement District, and of the estimated property tax levy.