NEW MEXICO RESIDENTIAL PURCHASE AND SALE AGREEMENT

This Residential Purchase and Sale Agreement (this "Agreement") is entered into as of [[Effective Date]] by and between [[Seller Full Legal Name(s)]] ("Seller") and [[Buyer Full Legal Name(s)]] ("Buyer"). Seller agrees to sell and Buyer agrees to purchase the Property described in this Agreement on the terms and conditions set forth below., -

1. Property Description

Seller agrees to sell and convey to Buyer the real property located at:

[[Property Full Street Address]]

[[City]], New Mexico [[ZIP Code]]

County of [[County Name]]

Legal Description: [[Complete Legal Description from Title or Deed]]

Tax Parcel Identification Number: [[Tax Parcel ID or Assessor's Parcel Number]]

The Property includes all buildings, improvements, fixtures, and appurtenances now on the Property and all rights and privileges appurtenant to it., -

2. Purchase Price

The total Purchase Price is [[Purchase Price in Words]] Dollars ($[[Purchase Price Amount]]).

3. Earnest Money Deposit

Within [[Earnest Money Deposit Deadline, e.g. 3 business days]] after the Effective Date, Buyer shall deliver to [[Escrow Holder or Broker Name, e.g. Title Company or Listing Broker]] ("Escrow Holder") the sum of $[[Earnest Money Amount]] as earnest money. The earnest money shall be held in a trust or escrow account in accordance with New Mexico law and the rules of the New Mexico Real Estate Commission. The earnest money shall be applied to the Purchase Price at Closing unless this Agreement is terminated in accordance with its terms or Buyer defaults.

If Buyer fails to deliver the earnest money by the deadline, Seller may terminate this Agreement by written notice., -

4. Property Tax Levy Estimate

Pursuant to NMSA 1978 § 47-13-4, prior to or at the time of presenting this Agreement, Seller has obtained or will obtain from the county assessor of the county in which the Property is located a written estimate of the property tax levy based on the Purchase Price. A copy of the estimate is attached as an exhibit or has been provided to Buyer. Buyer acknowledges receipt of the estimate., -

5. Seller's Property Disclosure Statement

Seller shall deliver to Buyer the New Mexico Real Estate Commission Property Disclosure Statement (or equivalent form meeting the requirements of NMSA 1978 § 47-13-1 et seq.) disclosing all known material defects in the Property. The disclosure shall be delivered prior to or at the time this Agreement is signed by Buyer. Buyer shall have three (3) business days after receipt of the disclosure statement to rescind this Agreement by written notice to Seller. Failure to deliver the required disclosure may entitle Buyer to remedies under New Mexico law., -

6. Financing Contingency

☐ This Agreement is an all-cash transaction. Buyer has provided or will provide written proof of funds sufficient to close within [[Proof of Funds Deadline, e.g. 5 business days]] after the Effective Date.

☐ This Agreement is contingent upon Buyer obtaining a written loan commitment on the following terms:

• Loan Type: [[Conventional / FHA / VA / USDA / Other]]
• Loan Amount: up to $[[Maximum Loan Amount]]
• Interest Rate: not to exceed [[Maximum Interest Rate, e.g. 7.25%]] per annum
• Loan Term: [[Loan Term in Years, e.g. 30]] years
• Commitment Deadline: [[Loan Commitment Deadline Date]]

If Buyer is unable to obtain a commitment meeting these terms by the deadline through no fault of Buyer, Buyer may terminate this Agreement by written notice and receive a full refund of the earnest money., -

7. Appraisal Contingency

☐ Appraisal contingency applies. Buyer shall order an appraisal within [[Appraisal Order Deadline, e.g. 7 days]] after the Effective Date. If the appraised value is less than the Purchase Price, Buyer may:

1. Terminate this Agreement and receive a refund of the earnest money.

2. Proceed to closing at the Purchase Price.

3. Request a price reduction from Seller.

Seller shall have [[Seller Response Period, e.g. 3 business days]] to respond to any reduction request. If the parties cannot agree, Buyer may terminate and receive a refund of earnest money.

☐ Appraisal contingency waived. Buyer agrees to close regardless of appraised value., -

8. Inspection and Due Diligence Period

Buyer shall have a due diligence and inspection period of [[Inspection Period Length, e.g. 10 business days]] after the Effective Date (the "Inspection Period"). During the Inspection Period, Buyer may conduct any inspections, tests, appraisals, surveys, or reviews of the Property and title at Buyer's expense. Seller shall provide reasonable access to the Property for such purposes.

If Buyer is not satisfied with the results of due diligence for any reason or no reason, Buyer may terminate this Agreement by delivering written notice to Seller before the end of the Inspection Period and receive a full refund of the earnest money. Failure to deliver timely notice constitutes waiver of this contingency., -

9. Title and Survey

Seller shall convey marketable title to the Property by warranty deed (or special warranty deed if customary), free and clear of all liens and encumbrances except for current real property taxes not yet due, easements of record that do not materially affect use, and other standard exceptions approved by Buyer. Buyer shall have the right to obtain a title commitment and survey during the Inspection Period. If title is not marketable or contains unpermitted exceptions, Buyer may object in writing. Seller shall have [[Title Cure Period, e.g. 10 days]] to cure. If Seller cannot or will not cure, Buyer may terminate and receive a refund of earnest money., -

10. Homeowners Association (HOA)

☐ The Property is not subject to any homeowners' association.

☐ The Property is subject to [[HOA Name]]. Seller shall deliver to Buyer within [[HOA Documents Deadline, e.g. 7 days]] after the Effective Date all HOA documents required by the New Mexico Homeowners Association Act (NMSA 1978 § 47-16-1 et seq.), including the declaration, bylaws, rules, current budget, and any pending special assessments or violations affecting the Property.

Buyer shall have [[HOA Review Period, e.g. 5 business days]] after receipt to review and either approve or disapprove the HOA documents. If Buyer disapproves, Buyer may terminate and receive a refund of earnest money., -

11. Closing and Possession

Closing shall occur on or before [[Closing Date]] at the office of [[Title Company or Closing Agent Name]] or such other place as the parties agree. Possession shall be delivered to Buyer at closing or on [[Possession Date]], unless otherwise agreed in writing. At closing, Seller shall deliver the deed, keys, and all other documents and items required to transfer ownership. Buyer shall deliver the balance of the Purchase Price and execute all required documents., -

12. Closing Costs and Prorations

Closing costs shall be allocated as follows (customary split or as checked):

☐ Split equally between Buyer and Seller.

☐ Paid by [[Buyer / Seller / as otherwise agreed]].

Property taxes, HOA assessments, rents, and other items shall be prorated as of the Closing Date on a per diem basis using the 365-day method unless local custom or lender requires otherwise. Seller shall pay any transfer taxes or recording fees customarily paid by sellers in New Mexico unless otherwise agreed., -

13. FIRPTA Withholding

If Seller is a "foreign person" as defined under the Foreign Investment in Real Property Tax Act (FIRPTA), Buyer is required to withhold fifteen percent (15%) of the amount realized from the sale and remit it to the IRS unless an exemption or reduced rate applies. Prior to or at closing, Seller shall deliver to Buyer or the Qualified Substitute (typically the title company) either (a) a Non-Foreign Affidavit certifying that Seller is not a foreign person, or (b) other documentation establishing an exemption. If Seller is foreign and no exemption is provided, the required withholding shall be made., -

14. Default by Buyer

If Buyer defaults under this Agreement and fails to cure within any applicable cure period after written notice, Seller may:

1. Terminate this Agreement and retain the earnest money as liquidated damages (if elected below).

2. Pursue specific performance or other remedies available under New Mexico law.

☐ Liquidated damages elected. In the event of Buyer's default, Seller shall be entitled to retain the earnest money as full liquidated damages and not as a penalty. Buyer's initials: _____ Seller's initials: _____, -

15. Default by Seller

If Seller defaults and fails to cure within any applicable cure period after written notice, Buyer may:

1. Terminate this Agreement and receive a full refund of the earnest money.

2. Seek specific performance of this Agreement.

3. Pursue any other remedy available at law or in equity., -

16. Earnest Money Disposition on Termination

Upon termination of this Agreement in accordance with its terms, the earnest money shall be disbursed as follows:

1. To Buyer if termination is due to a contingency properly invoked by Buyer or Seller's default.

2. To Seller if termination is due to Buyer's default and liquidated damages apply.

3. Held by Escrow Holder pending written agreement of both parties or court order if there is a dispute.

Escrow Holder is authorized to interplead disputed funds into court if necessary., -

17. Lead-Based Paint Disclosure (Pre-1978 Properties)

If the Property was built before 1978:

Seller has disclosed known lead-based paint and/or lead-based paint hazards.

Seller has provided Buyer with any available records or reports pertaining to lead-based paint.

Buyer has received the EPA pamphlet "Protect Your Family From Lead in Your Home".

Buyer has had the opportunity to conduct a risk assessment or inspection for lead-based paint hazards within ten (10) days (or waived such right in writing).

☐ Property built on or after January 1, 1978, lead disclosure not required.

☐ Property built before 1978, lead disclosure addendum attached or provided., -

18. Other Disclosures and Notices

Seller discloses the following (or attaches separate disclosures):

• Any known material defects not covered in the Property Disclosure Statement: [[Known Material Defects or None]]

• Any pending or threatened litigation or claims affecting the Property: [[Details or None]]

• Any special tax assessments or public improvement districts affecting the Property: [[Details or None]]

• Flood zone status or flood insurance requirements: [[Flood Zone Information]]

Buyer is advised to obtain independent inspections, surveys, and legal advice. This Agreement is not a substitute for professional advice., -

19. Representations and Warranties

Seller represents and warrants that:

1. Seller has the legal right and authority to sell the Property.

2. The Property is not subject to any pending condemnation or eminent domain proceeding of which Seller has notice.

3. There are no known violations of any applicable laws, codes, or HOA rules that would materially affect the Property, except as disclosed.

4. All information provided by Seller in this Agreement and the disclosures is true and complete to Seller's actual knowledge.

Buyer acknowledges that Buyer is purchasing the Property in its present condition, "as is," except for any express warranties in this Agreement or required by law, and subject to the results of Buyer's own inspections., -

20. Broker Duties and Compensation

The parties acknowledge receipt of the New Mexico Real Estate Commission broker duties disclosure as required by law prior to execution of this Agreement. Broker compensation, if any, is as set forth in separate written agreements between the parties and their brokers., -

21. Governing Law and Venue

This Agreement shall be governed by and construed in accordance with the laws of the State of New Mexico. Any action arising out of this Agreement shall be brought in the district court of the county where the Property is located or such other court as may have jurisdiction., -

22. Entire Agreement; Amendments; Severability

This Agreement, including all exhibits and addenda attached or referenced, constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and agreements. No modification of this Agreement shall be binding unless in writing and signed by both parties. If any provision is held invalid or unenforceable, the remaining provisions shall continue in full force and effect., -

23. Counterparts; Electronic Signatures

This Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. Electronic signatures and transmissions shall be deemed valid and binding., -

24. Time of Essence

Time is of the essence with respect to all dates and deadlines in this Agreement., -

25. Notices

All notices required or permitted under this Agreement shall be in writing and shall be deemed delivered when personally delivered, or three (3) days after mailing by certified mail, or one (1) business day after deposit with overnight courier, or upon confirmed receipt if sent by email to the addresses set forth above or such other addresses as the parties designate in writing., -

26. Assignment

Buyer may not assign this Agreement without Seller's prior written consent, which shall not be unreasonably withheld. Any attempted assignment without consent is void., -

27. Exhibits and Addenda

The following exhibits and addenda are attached and incorporated by reference:

1. Exhibit A, Property Tax Levy Estimate (per § 47-13-4)

2. Exhibit B, Seller's Property Disclosure Statement

3. Exhibit C, Lead-Based Paint Disclosure (if pre-1978)

4. Exhibit D, HOA Documents (if applicable)

5. Exhibit E, Additional Addenda: [[List Additional Addenda or None]], -

28. Signatures

SELLER

Signature: ___________________________________________ Date: [[Seller Signature Date]]

Printed Name: [[Seller Full Legal Name(s)]]

Signature: ___________________________________________ Date: [[Seller Signature Date]]

Printed Name: [[Seller Full Legal Name(s)]] (if joint)

BUYER

Signature: ___________________________________________ Date: [[Buyer Signature Date]]

Printed Name: [[Buyer Full Legal Name(s)]]

Signature: ___________________________________________ Date: [[Buyer Signature Date]]

Printed Name: [[Buyer Full Legal Name(s)]] (if joint)

BROKER / AGENT ACKNOWLEDGMENT (if applicable)

Listing Broker: ______________________________________ Date: _______

Buyer's Broker: _____________________________________ Date: _______, -

> ⚠️ Template example, not professional (legal/financial/medical) advice. This document is a sample only. All parties should consult qualified New Mexico real estate counsel, title professionals, and inspectors. Statutory references are to NMSA 1978 as of June 2026 and include the New Mexico Real Estate Disclosure Act (§ 47-13-1 et seq.), UORRA, and federal requirements such as FIRPTA and lead-based paint disclosures. Verify all information against current statutes, local custom, and the specific transaction. County assessor tax levy estimates and NMREC disclosure forms must be obtained and used as required., -

New Mexico-specific notes (for reference only): No mandatory attorney review or closing is required in New Mexico. Title companies commonly handle closings. Earnest money is customarily held in a broker trust account or title company escrow. Inspection and due-diligence periods are fully negotiable. Closing costs and prorations follow local custom (often split). HOA disclosures are required under the Homeowners Association Act when applicable. Always attach or provide the county assessor property tax levy estimate and the NMREC Property Disclosure Statement.