Updated July 31, 2023
A New Mexico commercial real estate purchase and sale agreement is used by individuals and businesses to outline the terms of a real estate transaction between a buyer and seller. The buyer will usually present the document as an offer to purchase a piece of commercial real estate. Once the offer has been received, the seller will either accept, refuse, or negotiate a better deal. The offer will usually include monetary deposits that are conditional upon the seller’s acceptance of the agreement. These deposits will be held in a trust and released upon the transaction’s closing. Both parties must sign the agreement to make it legally valid.
Residential Property
New Mexico Residential Purchase Agreement – A real estate transaction defined in a written agreement signed by the buyer and seller involved in the sale.
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