April 2022 Form Updates

New and updated forms will be released in April 2022. In collaboration with the Board of Directors, the Forms Committee diligently works throughout the year to improve and update LVR’s library of forms. Additionally, all new and updated forms are reviewed and prepared by legal and industry professionals to ensure the clarity and legality of the documents.

Form updates are released semi-annually, in April and October; unless the change is due to legal, legislative, or NAR mandate. Those forms are released immediately. Additional revisions may be a result of changes in the law or suggestions from the community regarding how to improve the everyday use of the forms.

April 2022 Form Updates

LVR Podcast Episode #3: April 22 Forms Release & Updates

Updates from the Association and Real Estate market lead the opening remarks of LVR President Brandon Roberts and CEO Wendy DiVecchio for Episode #3.

Guest host and Chair of the Forms Committee, Chad Bull, joins the co-hosts in the LVR Podcast to discuss the April 2022 Forms release. In addition, in-depth insight into the revisions and release of two new Forms are given.

<strong>Watch Podcast here</strong>

Updated Forms

Wire Fraud Notification Disclosure

Changes were made to The Wire Fraud Notification Disclosure Form and will now be referred to as the Wire and “Cyber” Fraud Notification Disclosure. To be more inclusive, the term “Cyber” was included in the title and throughout the form. Additionally, the form was updated to include additional signature lines to allow for a total of four (4) signers.

<strong>View Form & Update</strong>

Purchaser’s Receipt of the Common Interest Community “Resale Package”

A complete revision of the Purchaser’s Receipt of the Common Interest Community “Resale Package” has been made, and a new layout and design were incorporated. The list of documents and initial lines have been removed and replaced with the law itself, NRS 116.4109 Resales of Units (Effective Jan. 1, 2020). Additional changes are: signature lines increased to a total of four (4) and expanded details under the ‘Purchaser’s Receipt’ section adding in space to fill out “Address delivered to” if “hard copy” selected and “email address delivered to” if the electronic format is selected.

<strong>View Form & Update</strong>

Buyer’s Notice of Disclosure

Changes to the Buyer’s Notice of Disclosure form were more of housekeeping. The link found on page 1, under ‘Flood Hazard Zone,’ has been updated since the previous link took you to a website that has moved. The updated link is www.regionalflood.org/programs-services/flood-zone. Additional signature lines and initial fields have been added to a total of four (4).

<strong>View Form & Update</strong>

“Hey…” It’s a Smart Home Disclosure Guide

Updates and revisions to the “Hey…” It’s a Smart Home Disclosure Guide were completed, including instructions on how to fill out the Disclosure. Minor changes were made from previous versions creating additional space for the ‘Make and Model’ and eliminating the ‘Room/Area/Location’ column.

<strong>View Form & Update</strong>

Residential Property Management Agreement

Changes to the Residential Property Management Agreement form were more of housekeeping. Specifically affecting pages 8 and 9 of the agreement, any reference to Section 2(D) has been revised to accurately reflect Section 2(C) as Section 2(D) was removed from the agreement.

<strong>View Form & Update</strong>

New Forms

Solar Information and Property Authorization

This Solar Information and Property Authorization form was created to provide clarity and transparency on documents related to Solar Panel System on properties to be listed.

<strong>View Form</strong>

Solar Panel Addendum

The Solar Panel Addendum form was created to provide guidance on disclosing all details and documents relating to the Solar Panel System installed on a property.

<strong>View Form</strong>

Other Forms

Key Release Receipt

Key Release Receipt form helps ensure the transfer and receipt of all keys, remotes, codes, etc., necessary to access the home.

<strong>View Form</strong>

Request for Repairs

Request for Repairs form has undergone some major revisions and updates. The biggest change, the form was shortened and removed responses to eliminate negotiating all terms on one form. Also, another noticeable change is Section 1.1 Buyer Remedies for Unfinished Repairs.

<strong>View Form</strong>

You can submit a forms revision request to the Chair, Vice-Chair, and Staff Liaison of the Forms Committee following the button below.