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Realtors Association of New Mexico Termination Agreement and Form

Realtors Association of New Mexico Termination Agreement and Form

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[Music] hello and more members I'm Ashley Straus Martin general counsel for the New Mexico Association of Realtors for revised Mr forms will be available in the incident library on or about September 20th in this video I'll discuss changes to one of those forms the backup purchase agreement form 1530 this is part two and a three-part series that covers all four forms so be sure to watch the others when you can also for purposes of this video I will sometimes refer to the backup purchase agreement as the backup contract the backup purchase agreement in form 1530 is currently designed for one backup contract not multiple backup contracts but in a seller's market there may be multiple buyers willing to enter into backup contract form 1530 has been redesigned to accommodate the situation first remember that it will be the buyer who is completing this form but it will be imperative that the buyers broker and listing broker communicate about how many offers the seller

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