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New Mexico is a Non-Disclosure State, What does that really Mean?

New Mexico is a Non-Disclosure State, What does that really Mean?

 

Recently I attended a Town Hall Meeting for Real Estate Professionals, and the term “Non-Disclosure” kept coming up.  It was obvious that many of the people there were not truly aware of what it really means, so I decided, well it is time for me to tackle the subject.  In terms of Real Estate, What is a “Non-Disclosure” state? No…it does not mean that you are not required to disclose “material” information when conducting business.

 

To my understanding, all it means, is that the Sale Price of Homes is not public information. So you might say…BS.  In fact it is so.  Imagine if Zillow had all the sale price of homes here in New Mexico, do you believe that the Zestimate,would be more accurate?   You bet it would.  And how many agents put out that information in the public domain?  

 

 

The big question I have is, why not release that information?  What are the consequences of releasing it anyway?  There are states in which that information is public…I think it is just a matter of time before we see the move toward more disclosure.  What’s your opinion?

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C. Lloyd McKenzie, MBA

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Berkshire Hathaway HomeServices

New Mexico Properties/Allstar, REALTORS

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Albuquerque, New Mexico 87109

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Comment balloon 11 commentsC. Lloyd McKenzie • March 21 2015 10:49AM

Comments

That's insane,  It's public after it/s been recorded   so why not????

 

Posted by Ronald DiLalla, No. Orange Cty Real Estate (Century 21 Discovery DRE 01813824) over 2 years ago

It's already public as there are no secrets on the internet.  tell your governor to grow up and catch up with teh times. 

Posted by Florida Tolbert Team Keller Williams Advantage, Million $ Guild Member Cert Luxury Home Mkting Spc (Keller Williams Advantage III Realty in Lake Nona) over 2 years ago

Hi Lloyd -- I have read similar things on AR --- it's interesting to see the differences between states and makes me wonder the reason behind the thinking.  

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) over 2 years ago

Having moved here from another state, I have found it very hard to find information about existing homes... even building permits!

Posted by Fred Hernden, Albuquerque area Home Inspector (Superior Home Inspections - Greater Albuquerque Area) over 2 years ago

Hi Ronald...The explanation I have got is that even though some of the information is public, the sale price isnt and that is what they are supposedly protecting.  

Posted by C. Lloyd McKenzie, Living Albuquerque over 2 years ago

Hi Kevin, 

I believe that there should be oone standardacross the entire country...the politics of it all would cause a lit of headache though

Posted by C. Lloyd McKenzie, Living Albuquerque over 2 years ago

Hi Michael...One plausible I have got was tax

Posted by C. Lloyd McKenzie, Living Albuquerque over 2 years ago

Hi Fred...Thanks for stopping by...I agree with you 100%... It makes me wonder sometimes

Posted by C. Lloyd McKenzie, Living Albuquerque over 2 years ago

C Lloyd,

 I am not sure what Texas is but Zillow always gets things wrong and so do many of the other free sites!

Posted by Yolanda Cordova-Gilbert, Sitterle Homes (Sitterle Homes) over 2 years ago

C. Lloyd, 

Those free web sites data no matter is 90 % of the time  inaccurate and pretty worthless. Here in Texas you can find the information but you have to dig for it and know where to look. 

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) over 2 years ago

Lloyd

Is the sales price reported at the county tax office . . . . and part of the public record?

Good luck and success.

Lou Ludwig

 

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) over 2 years ago

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