CIC, SRPD & Required Disclosures
Contract — Pages 5-6: CIC & Disclosures
HOA Resale package timeline, SRPD, LBPD for pre-1978 homes.
Any questions the buyer has, they need to direct to the HOA. We are simply document delivery, not the HOA’s interpreter.
Who pays: Sellers traditionally pay all fees. High-rises buyers and new builds buyers typically pay Cap Contribution — usually 2-3× the HOA fee, or a % of the sale price each time it’s sold. Verify with the HOA.
By state law, the buyer has 5 days from receiving the resale package to back out. If the seller delivers late, the buyer’s review window extends — which can break the close-of-escrow date.
LINE 5 — SRPD REQUIRED. Seller cannot ask the buyer to waive it or sign a remedy in lieu of disclosure. Nevada state law.
LINE 8 — Review SRPD See if anything material needs follow-up after the contract is executed.
LINE 10 — LBPD (Lead-Based Paint Disclosure) Required if home built BEFORE 1978. Federal law. Must be fully executed.
LINE 13 — Additional Buyer-Requested Items If property is tenant-occupied, write: “All leases, property management contracts, maintenance, and utility records.”
SRPD is mandatory under Nevada state law — a seller asking to waive it is asking the buyer to give up legal protection. LBPD for pre-1978 homes is federal law (HUD); missing this exposes the brokerage to a federal violation. Tenant-occupied properties come with leases and obligations that transfer at close — without them in writing, the buyer inherits unknown problems.