Nevada Offer to Purchase Real Estate

State:
Multi-State
Control #:
US-OTPRE
Format:
Word; 
Rich Text
Instant download

Description

This one page form is a letter in which a potential purchaser makes an offer with certain qualifications. It is an invitation to enter into negotiations, and it is not binding on either party. The letter states that any agreement to buy and sell is contingent upon approval and signing of said Contract of Purchase by both parties, and completion of all contingencies and obligations described therein.
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FAQ

In Nevada, a seller can get out of a real estate contract if the buyer's contingencies are not met?these include financial, appraisal, inspection, insurance, or home sale contingencies agreed to in the contract.

Again, the short answer is yes. If you back out of a signed contract for a reason not explicitly stipulated as a contingency, not only do you risk losing your earnest money, but the seller could possibly seek further legal action. It's easier to back out of buying a house before the purchase agreement is signed.

In Nevada, the cooling-off period is five calendar days after the date you executed (signed) the contract.

Out of the three types of listing agreements ? Open, Exclusive Agency, and Exclusive Right-to-Sell ? an agent will be more inclined to sign an Exclusive Right-to-Sell Agreement. This type of contract gives the agent sole representation over their client.

When you buy a timeshare there is a timeframe in which you may easily cancel the purchase known as the cancellation period or the rescission period. The timeshare cancellation period in Nevada is 5 calendar days from the date you signed the contract.

The two main avenues a seller can use to cancel a contract legally are: For reasons spelled out in the contract. The seller can back out for reasons written into the contract, including (but not limited to) contingencies. The buyer is in breach of the contract.

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Nevada Offer to Purchase Real Estate