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Ranm from 3101  Form

Ranm from 3101 Form

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Hello I'm Ashley Strauss Martin attorney for the REvaltors Association of New Mexico, and today I'm here to talk to you about two significant changes to our purchase agreements now this change can be found in all the purchase agreements except for the commercial purchase agreement that has its own separate financing addendum paragraph five is the specific paragraph that I'm referencing, and it's entitled financed or cash purchase specifically 5a has been modified v a1 as in the current purchase agreement this paragraph requires the buyer to make a loan application for a loan no later than so many days from the date of acceptance paragraph 5 a2 requires the buyer to provide a pre-qualification letter within so many days of dative acceptance, and it outlines what must be included in the prequel letter it's important to note that the subsection now contains language this buyer does not provide the Pequot's letter within the requisite timeframe that the purchase agreement will terminate an

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