What documents should I review before buying a home?

When buying a home in New Mexico, it is important to understand the documents involved. In order to make an informed decision about your purchase, you should review the following documents: 1. Title Deed: This document contains information about the legal description of the property, as well as information about the current owner’s rights and interests in the real estate. 2. Disclosure Documents: Disclosures spell out any known facts about the property, such as easements, encroachments, or other potential issues. 3. Seller’s Property Disclosure Statement: The seller must provide you with a property disclosure statement which outlines any material defects in the property that the seller is aware of. 4. Lead Paint Disclosure: If the property was built before 1978, the seller must provide you with a disclosure about lead-based paint and any associated hazards. 5. Homeowners’ Association (HOA) Documents: If the property is part of an HOA, you should review the HOA documents to understand the rules, regulations, and fees associated with the property. 6. Financial Documents: If you are obtaining a mortgage loan to purchase the property, you should review the loan agreement and any other related financial documents. 7. Inspection Reports: Before making an offer on the property, it is important to have the property professionally inspected by a qualified home inspector. The inspector will provide you with a report that outlines any potential issues with the home. By thoroughly reviewing these documents, you can make an informed decision about purchasing a home in New Mexico and protect yourself from potential lawsuits or other legal issues.

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What documents should I review before buying a home?

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