Do I have to sign a waiver of the SRPD? I'm buying a Las Vegas foreclosure and they want me to sign this waiver.

By
Real Estate Agent with Prominent Realty Group, LLC

Well the short answer is No you don't have to sign it if you don't want to. 

When you are buying a Las Vegas foreclosure, (which is a bank owned home), most of the agents who are selling these bank owned foreclosure homes are requiring this be waived as a condition of the sale and because the banks won't fill out the SRPD (Sellers Real Property Disclosure) which is a required form to be filled out by the seller of the home.

NOW there is a new law in place that goes into effect Oct 1, 2011 - the SRPD MAY NO LONGER BE WAIVED 
The seller may not request or require the purchaser to waive it, and the purchaser may not waive it.

You can go to the NVAR.org to see the info...http://www.nvar.org/Libraries/Enews_and_Health_Enews_Reposit…

But until then, expect most bank owned foreclosures to be asking for a waiver.
The SRPD will most likely be modified soon to have a specific section for bank owned homes, etc

Regardless, when you are buying a home in the Las Vegas area, remember you really are buying it "as is", so make sure to hire a home inspector to get the home inspected before you finalize the deal.

 

Do I have to sign a waiver of the SRPD?  I'm buying a Las Vegas foreclosure and they want me to sign this waiver.

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Topic:
Real Estate Market Trends
Location:
Nevada Clark County Las Vegas Summerlin South
Groups:
Century 21 ActiveRain Bloggers
Las Vegas, NV Area Real Estate Professionals
Nevada/Las Vegas REO, Fourclosure, Short Sale Specialist
Posts to Localism
Vacation and Second homes
Tags:
srpd
im buying a las vegas foreclosure
buying bank owned
foreclosure tips
las vegas realtor
summerlin real estate

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Rainmaker
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Las Vegas Listing Agent Dawn Barrier 702-812-4550

Las Vegas Homes For Sale
Buy a Las Vegas Home (702) 812-4550
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Selling Las Vegas on Home at a time! Dawn Barrier is an experienced Realtor® & Las Vegas Short Sale Agent- Sell your Las Vegas Home Equity Sales and Short Sales www.AwesomeLasVegasHomes.com