Nevada Real Estate >> Las Vegas Real Estate Specialist: September 2011

10/1/2011 The Nevada SRPD (Seller's Real Property Disclosure) Can No Longer Be "Waived"

Beginning 10/1/2011, Las Vegas NV area sellers will no longer be able to waive the SRPD (Seller’s Real Property Disclosure.)  Nevada passed SB 314 and the law goes into
 effect on October 1, 2011.

This will really affect many types of distressed sales (which are now between 70-75% of the Las Vegas Valley’s home resale market.)  These sales consist mostly of:

Formerly the buyers signed something that we called the “Waiver of NRS 113 Rights”.  Now the sellers will have to produce the SRPD document for buyer review.

Here is the notice that NVAR put together for sellers.  Our local board is also putting a form together for buyer’s agents to notify listing agents when the sellers are out of compliance.


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

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Comment balloon 18 commentsRenée Burrows • September 29 2011 11:37PM
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