New Mexico Contract for Deed

If a potential buyer of your property cannot qualify for conventional mortgage financing, you can help by carrying part or all of the purchase price under this Contract for Deed.

  • A contract for deed is also referred to as a purchase money mortgage or a land contract.
  • Under the terms of this Contract, the seller effectively becomes the mortgage lender for the balance of the purchase money.
  • Title will transfer to the buyer once payment in full of all principal and interest has been received by the seller.
  • The seller has the right to take back the property if the buyer defaults in payment.
  • At the seller's option, the balance can be repaid by monthly payments with or without interest until paid, or monthly payments with interest for a fixed number of payments with a balloon payment at the end to pay out the balance.

The New Mexico Contract for Deed form is available in MS Word format and easy to use.

Document Type: Microsoft Word
Last Updated: 26-February-2025
SKU: 4993
$17.99