The Nevada Real Estate Purchase Contract (“Residential Purchase and Sale Contract”) is a contract used to facilitate the purchase of real estate between a buyer and a seller. On the agreement, the buyer will present a monetary offer for the purchase of the property which contains the terms of his offer. Lead-Based Paint Disclosure (42 U.S. Code ` 4852d) – All properties built before 1978 require the seller to disseminate information on all lead inks and/or lead inks on premises. (This should be accompanied by a publication informing readers of the dangers of hazardous material.) Disclosure of Real Estate (Form 547) of the Seller – Residential property owners must complete a copy of this disclosure form, which indicates the current condition of the property and the existence of material defects. In addition, two other documents, which are commonly used in Las Vegas, are the agreement on the exclusive buying agency and the short sale addendum. The buyer agency is like a seller list contract – it also gives the buyer the right to rent exclusively his own agent. The short-sale addendum is used when the property purchased is a short sale and the bank must give its consent. Gaming Districts (No. 113.080) – For newly constructed buildings located in a county of more than 700,000 inhabitants, this disclosure is mandatory as sellers of real estate must provide buyers with information about the proximity of home gaming business neighborhoods sold. In Nevada, sellers are required to enter into a real estate purchase agreement and the following disclosure statement so that the agreement is considered legally binding: residential sales contracts generally contain promises and provisions guaranteeing the condition of a property. Many states legally require sellers to deivate explicit information about the condition of a property. In states where this is necessary and where a seller deliberately conceals such information, they may be prosecuted for fraud.
The seller`s property disclosure form. Nevada law requires the seller of residential real estate to disclose all known conditions and aspects of the property that negatively affect the value or use of residential property. (NRS 113.130) Construction Defects (Az.: 40.688) – State law requires that the seller of a house subject to a construction application be notified to the buyer to resolve this issue. There is also a lot of other necessary data that is part of our local real estate transactions, but these are standard documents that are generally self-explanatory. Please feel free to contact us with any questions you have regarding our local contracts – simply fill out the form below and we will respond as soon as possible. We look forward to the opportunity to help you find your next home in Las Vegas! The laws vary widely from country to country, and we want you to be comfortable with all aspects of the transaction in Las Vegas. So take a moment to check out a sample of the actual real estate contract used by the Greater Las Vegas Board of Realtors. This way, you can create a list of all the questions you might have in advance before you start looking for properties.