Real estate agents have a lot of responsibility during the course of their interaction with a Buyer. They have legal obligations to the Buyer, some very evident, others buried in the law, that mandate what and when they say and do certain things. All real estate transactions in Nevada are legally required to be preceded by the Buyer signing the Duties Owed By A Nevada Licensee form which specifies the licensee's duties. There are, however, aspects of a transaction, or property, that Buyers have a curiosity, or serious interest in, that agents can't delve in to.
NRS 40.770 limits the liability of a seller, seller's agent, or buyer's agent for failure to disclose the fact that the property is or has been the site of certain events or activities by declaring them not material to the transaction. These include the fact that the property was: (a) The site of a homicide, suicide or death by any other cause, except a death that results from a condition of the property; (b) The site of any crime punishable as a felony other than a crime that involves the manufacturing of any material, compound, mixture or preparation which contains any quantity of methamphetamine; or (c) Occupied by a person exposed to the human immunodeficiency virus or suffering from acquired immune deficiency syndrome or any other disease that is not known to be transmitted through occupancy of the property.
Other potential disclosure discrepancies that are deemed not material to the transaction include disclosing the fact that a sex offender resides or is expected to reside in the community, or that a transitional living facility for released offenders is nearby the subject property. The manufacturing of methamphetamine can be a problem unless: (a) All materials and substances involving methamphetamine have been removed from or remediated on the property by an entity certified or licensed to do so; or (b) The property has been deemed safe for habitation by a governmental entity.
Almost every residential sale these days involves a physical inspection. Agents often review and work with the Buyer in evaluating the inspection report, but NRS 645.252 provides that unless it is otherwise agreed in writing the agent owes no duty to independently verify the accuracy of a statement made by a certified inspector or expert. It goes on the say that they have no duty to conduct an investigation of the condition of the property that is the subject of the real estate transaction.
Our Advice: If it is important to you for spiritual, religious, or other reasons to know if somebody passed away in the home you are contemplating buying understand there are limits as to what your agent can disclose. You can, however, gain information about the home and neighborhood by visiting with some of your potential neighbors. They know what's going on in the neighborhood - stop by and get acquainted. If your Physical Inspection reflects property deficiencies understand that your agent may assist you to the best of their ability, but they have no obligation to verify the accuracy of the report. The inspector has specific knowledge that he is licensed for, as does your real estate licensee... real estate, not construction!
Your agent has legal and practical limitations on the "extra" services she can provide to you. If your needs exceed those limitations then consider other means to garner the information you desire, i.e. - hiring a specialist, or doing your own research. Use your agent as a real estate professional, not a private detective. When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781-5472. carsonvalleyland@hotmail.com, www.carsonvalleyland.com
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