HOA Resale Packet in Nevada?

Question

Does anyone know how many days the buyer has to review the HOA / CIC Resale packet as part of their due diligence period in Nevada?

Also, is it possible for me to scan PDF the HOA packet instead of giving the buyer just in case they back out of the deal so that I wouldn't have to order another package?

Thanks.

Bruce L. · Answer

Thank Tiger,

I was reviewing all the docs I have from when I was buying homes in an HOA, and there was no formal form saying I received the packet. I guess it's a trust thing, but if ever challenged, I got my emails.

Tiger M. · Answer

Scan for sure and the delivery email and acknowledgment should start your clock unless your contract is nonstandard.

Bruce L. · Answer

Thanks Robert,

I just ordered it last week. How would I confirm the start of the 5 day period to review? Do I make a receipt for the buyers agent to sign saying that they received it?

I'm sure all would be fine, but I would rather be on the safe side in case the buyers agent says, we never got the packet or we got it on a later date.

Robert Adams · Answer

How recent is the resale package you have? The buyer needs to get the current financial status of the HOA, etc. If it is from last year for example you will need to reorder it.

Also, the buyer has a 5 day period to review the resale package and cancel. The resale package has it's own "due diligence period". For example if the buyer's due diligence period has expired and then 4 days later the buyer gets the resale package the buyer then has an additional 5 days to review the resale package and can still cancel within those 5 days.

HOA Resale Packet in Nevada?

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