This form is a Contract for the sale of real estate for use in Nevada. It can be used for a cash sale, assumption or new loan buyer. The contract contains provisions common to a real estate transaction. No broker involved.
Clark Nevada Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement
Category:
State:
Nevada
County:
Clark
Control #:
NV-00472
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Nevada Contract For Sale And Purchase Of Real Estate With No Broker For Residential Home Sale Agreement?
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FAQ
You will have to list your house with a Nevada state licensed flat fee MLS real estate broker and offer a buyers agent commission but you still retain the right to sell FSBO. Flat fee MLS listings are for hands-on sellers that aren't afraid of learning and getting involved with all aspects of the sale of their homes.
The seller must complete the ?Seller's Real Property Disclosure? form, detailing the condition of the property, known defects, and any other aspects of the property which may affect its use or value. A real estate licensee, unless he is the seller of the property, may not complete this form.
Required Elements of a Real Estate Contract To establish legality, a real estate contract must include a legal purpose, legally competent parties, agreement by offer and acceptance, consideration, and consent.
Remember Nevada doesn't recognize transactional agency (also referred to as, limited agency representation). A real estate licensee can't contract to waive / limit their full duties, responsibilities and liability of representation as identified in the law.
Except as otherwise provided in subsection 2: (a) At least 10 days before residential property is conveyed to a purchaser: (1) The seller shall complete a disclosure form regarding the residential property; and (2) The seller or the seller's agent shall serve the purchaser or the purchaser's agent with the completed
What are three types of agency recognized in Nevada? A: Single agency, dual agency, and assigned agency.
Required Records Brokers are required to keep records for a minimum of five years after the transaction closes or the cessation of estate activity regarding the transaction, whichever is later. Even deals that did not successfully close must be included in their entirety among the broker's records.
The term means one agent represents both sides in a single real estate transaction: the buyer and the seller. Legal in only a few states, dual representation is a choice disclosed to both parties. Nevada is one of the few states that allows dual representation.
Nevada's Required Disclosures In most residential property sales in Nevada, state law mandates the seller make disclosures about conditions on the property. See NRS § 113.130. These disclosures cover electrical, heating, cooling, plumbing and sewer systems, and anything else on the property that affects use or value.
8. A licensee's personal interest in a transaction represents a potential conflict of interest, and Nevada law requires that it be disclosed in writing to all parties.