Escrow & Title
What is a homeowner's association (HOA) resale certificate and why is it important in Nevada?
AA certificate from NRED approving the HOA's governance
BA document required under NRS Chapter 116 that discloses the HOA's financial health, assessments, rules, and any outstanding violations or special assessments before a condo or HOA property is sold✓ Correct
CA certificate confirming the property was built to HOA standards
DAn HOA-issued certificate of good standing for the seller
Explanation
Under NRS 116.4109, Nevada sellers of HOA-governed properties must provide a resale package (including the current CC&Rs, financial statements, operating budget, reserve study, pending special assessments, and violation notices) to buyers. Buyers have a right to rescind within a specified period after receiving the package.
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