This disclosure is generally required for new construction. It explains that the seller must notify the buyer in writing of any impact fees that apply to the property. The seller must also identify the government agency that charges the fee and state the amount. This notice must be provided before the property is transferred to the buyer.
Impact fees are charges imposed by local governments on new developments to help cover the cost of added demand on public services. These services may include road expansions, new schools, and upgrades to water and sewer systems.
What If the Seller Neglects to Inform a Buyer of Impact Fees?
If the seller fails to give proper notice, they could be legally liable to the buyer for the full amount of the fee.
Is There a Specific Form That I Need to Supply To a Potential Buyer?
No. Nevada does not require this disclosure to be made on a state-issued form. However, it is strongly recommended that you provide any disclosures in writing or by email so you have a clear record that the disclosure was made.
Include Your Disclosures on Your MLS Listing
When you list your home on the MLS with homecoin.com for a low, one-time flat fee, we will upload your disclosures directly in your MLS listing, so you can easily comply with Nevada law. Learn more about our flat fee MLS service HERE.
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