What Must I Include in my Reno Home Disclosure Form?
When selling your Reno home, you are legally required to fill out a Seller’s Real Property Disclosure Form. On this form, you will be asked about the known condition of your property. This includes issues that may have occurred before you owned the property. Disclosure requirements vary from state to state. What do you need to Include in your Reno home disclosure? Read on to find out.
Reno Home Disclosure Requirements
For your convenience, the State of Nevada provides a four-page disclosure form for Reno home sellers. On this Reno home disclosure form, they provide a checklist of your home’s systems and appliances. Then, they ask you if any of these items have had any known issues or defects. You simply check “yes”, “no” or “N/A” next to each item. After that, a series of questions about mold, structural defects, roof problems, foundation issues, pest infestations, and other potential issues must be answered as well. Anything you answer “yes” to must be explained in detail further down on the form. If you made any insurance claims, make sure the initial issue is disclosed as well as its resolution.
What Doesn’t Have to Go into a Reno Home Disclosure Form?
Some states require sellers to tell buyers whether a serious crime or death occurred on the property. In Nevada, you don’t. The only exception would be if that death occurred due to a defect in the home. Likewise, if you know of any registered sex offenders in the neighborhood, you don’t need to add that info to your Reno home disclosure form. Finally, if you believe your Reno home to be haunted, you don’t have to share this information on your disclosure form either
To Disclose or not to Disclose?
When it comes to your Reno home disclosure form, honesty is the best policy. If something you know about isn’t disclosed, the buyer may sue you when a problem is uncovered down the line. Now, you won’t be held responsible for problems you had no way of knowing existed. However, a buyer could sue if the problem is a direct result of something you were aware of and chose not to disclose before the sale was complete. While some things aren’t legally required to be disclosed, you may still want to let the buyer know about them anyway. For example, if you are aware of registered sex offenders in the area, parent-to-parent, you want to let the buyer know about it if for no other reason than to keep their children safe.
Please feel free to contact me if you have any questions. I’m always available to assist you with any Reno real estate matters you may be dealing with.