By Christal Park-Keegan, NVR Legal Information Line Attorney
Q. In a real estate transaction of a residential property within a common interest community, can the buyer pay for the resale package and the seller reimburse at closing?
A. No. The statutes are explicit that the resale package is the seller's expense (NRS. 116.4109). Practicing real estate in the manner presented in the question gambles on a guaranteed closing - and that is simply not in line with reality. A lot can happen in a real estate transaction, and if the parties fall out of contract, the seller will violate the requirements of the law. Acknowledging that resale packages can be costly, it's important to also remember resale packages are good for 90 days (NRS 116.4109(5)).
Single women are proving to be a powerful force in the housing market, accounting for ownership of about 5.2 million homes, while single men own about 3.6 million homes in America's 50 largest metros.
This might seem a bit surprising, considering that in 2020, women were making only 81 cents for every dollar a man earned, according to research by PayScale. But nonetheless, a new report by LendingTree found that in all of the 50 largest metropolitan areas, single women own more homes than single men do.
RPR® (Realtors Property Resource®) is pleased to announce the debut of a completely redesigned version of its real estate website. The new RPR® is cleaner, simpler, and offers users a more overall intuitive experience. Months of collecting NAR member feedback and research has paved the way for this more focused, user-centric approach.
With over 95% of all active residential listings and 97% of all active commercial listings, RPR will offer the same robust data, tools and reports REALTORS® have come to expect, but with several improvements and new features. Click here to read more about the changes.
