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Where can I get copies of the 5 ˝ x 8 ˝
booklets?
We are out of printed booklets.
You may
download and print the disclosure guide
from our website at
www.red.state.nv.us/forms/622.pdf.
Is the booklet required for contracts
already in escrow as of July 1, 2006?
NO. The booklet must be provided to
clients who enter into a contract on or
after July 1, 2006.
Do I have to obtain the signatures of
both the buyer and the seller on the
acknowledgement page?
NO. You are only required to obtain the
signature of the party for whom you are
acting as an agent and each
unrepresented party to the real estate
transaction, if any.
Shouldn’t there be a spot on the
acknowledgement page for the property
address?
The address is unnecessary. The
disclosure booklet is an informational
document…it is not designated for a
specific transaction. If your client
purchases more than one property or if
the initial deal falls through, you may
copy the acknowledgment page with your
client’s signature and include it in the
transaction file of any additional
properties.
Is the booklet required for commercial
sales?
NO. The Residential Disclosure Guide is
only required for residential sales.
The disclosure booklet states that the
licensee must “disclose to each party in
the transaction, all duties owed to the
parties and the licensee’s relationship
as an agent to each party…” Does this
mean that I have to get the signature of
both parties on the Duties Owed form
even if I am not representing both
parties?
NO. Although the licensee has the duty
to disclose certain information to each
party in a real estate transaction
(i.e., material and relevant facts,
compensation received from parties
and/or interest in a transaction), the
licensee is only responsible for
providing the “Duties Owed By a Nevada
Real Estate Licensee” form to the party
for whom the licensee is acting as an
agent in the real estate transaction and
each unrepresented party to the real
estate transaction, if any.
Is the booklet required for new home
sales?
A: YES.
If I had a reservation prior to July 1,
2006 and enter into a contract after
July 1, 2006, is the booklet required?
A: YES.
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