Nevada Residential Disclosure Guide
Introduction
The Nevada Real Estate Division has developed this guide to inform purchasers and sellers of the disclosures required by Federal, State, and local laws and regulations. Prior to the execution of an offer to purchase, this guide must be provided to the purchaser and they must acknowledge receipt of it.
Mandatory Disclosures
1. Seller’s Real Property Disclosure Statement
The seller of any residential real property under NRS 113.130 must complete this form.
- Timeline: The form must be provided to the buyer at least 10 days before the property is conveyed.
- Requirements: The seller must disclose any "material" defects in the property of which the seller is aware.
- Updates: If a new defect is discovered before closing, the seller must inform the buyer in writing as soon as practicable.
2. Common-Interest Communities (HOA)
If the property is located within a Common-Interest Community, the seller must provide a "Resale Package" per NRS 116.4109.
- Contents: Includes the Declaration (CC&Rs), Bylaws, Rules and Regulations, and a statement of monthly assessments.
- Buyer's Right: The buyer has 5 days after receipt to cancel the contract without penalty.
3. Construction Control
If the purchase involves a new home, the seller must disclose the name and address of any person who will hold the money for the construction (the construction control) as per NRS 624.520.
4. Lead-Based Paint Disclosure
For residential dwellings built prior to 1978, Federal Law requires:
- Sellers to provide the pamphlet: Protect Your Family From Lead in Your Home.
- A specific disclosure signed by the seller and buyer.
- A 10-day period for the buyer to conduct a lead inspection or risk assessment.
Environmental and Location Disclosures
Open Range Disclosure
Under NRS 113.065, if the property is adjacent to "open range" land, the seller must disclose that:
- Livestock may graze on the property.
- It is unlawful to kill or maim livestock that enters the property.
- The seller is not required to fence the property.
Airport Noise & Flight Paths
Prospective buyers should be aware of the proximity to airports. In certain counties, specifically Clark County, disclosure regarding noise levels and aircraft flight paths may be required under NRS 113.080.
Soil Reports and Water Metering
- Soil Reports: For new constructions, the seller must provide a summary of the soil report (NRS 113.135).
- Water Meters: Sellers must disclose if the property is burdened by a water meter or the requirement to install one (NRS 533.443).
Miscellaneous Disclosures
Used Manufactured/Mobile Homes
Sellers of used manufactured or mobile homes must provide a specific Manufactured Home Disclosure Statement regarding the condition of the home’s systems and compliance with state standards.
Impact Fees
If the property is subject to "Impact Fees" (charges for off-site infrastructure like parks or police), the seller must provide a written notice to the buyer regarding the amount and purpose of the fees.
Important Notices for Buyers and Sellers
Right to Rescind
In several instances (such as HOA disclosures or the discovery of new defects), the buyer has a statutory right to rescind the purchase agreement within a specific number of days.
Recommendations for Professional Inspections
While the Seller’s Real Property Disclosure Statement is a vital tool, the Nevada Real Estate Division strongly recommends that every buyer obtain a professional home inspection to identify issues that the seller may not be aware of.
Legal Advice
This guide is intended to provide a summary of required disclosures. It is not an exhaustive list of all legal obligations.
Note: For specific legal questions regarding a real estate transaction, parties should consult with a qualified attorney or real estate professional.
Official Contact Information
Nevada Real Estate Division
- Las Vegas Office: 3300 W. Sahara Ave., Suite 350, Las Vegas, NV 89102
- Carson City Office: 1818 E. College Pkwy., Suite 110, Carson City, NV 89706
- Website: red.nv.gov