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*DISCLOSURE* This is all my opinion and should not be construed as legal advice. This is meant to be informative, but please do your due diligence and if you need assistance, contact the appropriate professionals. 
 

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Seller – no agent

I’ll begin by saying, in most cases, a seller would have an easier time listing without an agent than a buyer would be going through the process alone.  The state provides the mandated forms, Title will handle the escrow, and the buyer (hopefully with an agent) will provide the offer contract. 

There are some instances where an agent is beneficial and I list them on the seller – with agent page. 

I also want to add this at the beginning as it will apply to the entire transaction from completing disclosures, when you receive, counter, and execute any offers, and every other form you complete. 

Every contract contains an implied duty of good faith and fair dealing. Please click that link and read about this rule that generally applies to any contract automatically even without it being stated in an agreement.  Summary:  Be a GOOD PERSON! Don't lie... don't omit.... don't half truth! 

Here we go! This is how I would tell someone to list a FSBO:

Complete the SRPD (Seller’s Real Property Disclosure)

• This is a state mandated form a seller must supply to a buyer. 

• I suggest completing it right when you are listing so it is the most up-to-date. 
• Be completely honest!
• Over-disclose! Better to mention something and CYA than think it isn't important and the buyer comes back at a later time. 
• Maybe you have lived with some less than stellar aspect of your home and you think it is just fine..... it may not be for a buyer... Disclose!!

• If a buyer comes back after a closing and proves you had knowledge of an issue and did not disclose, they can sue you for up to 3 times the damages. NRS 113.150 (4)
• Things happen, pipes break, water damage can occur.. .just disclose and provide all the information you have on how it was remedied.

As for completing the form:

• The State provides instructions on the first page
• They are a bit vague, here are my points I stress to clients
• The seller MUST fill this out... not an agent or tenant or anyone else.
• page 1 is asking "are you aware of any PROBLEMS"
• Page 2 same theory EXCEPT some questions ask if any "previous or current" or "any history of"
• Question about "Private Transfer Fee Obligation" (currently #17) trips some people up. This has nothing to do with HOAs. New PTFs were banned as of 2011 and existing ones had to re-record. If you think you have one, you must disclose. If you are not sure, a Title company should be able to tell you. 
• Questions about "any other conditions" (currently #11) is where you need to add anything that isn't listed. Just because an item isn't listed doesn't mean you don't have to disclose. If something is not in working order and/or the condition or aspect of the property will materially affect its value or use, disclose, disclose, disclose.  

Back to best practices of the SRPD:

• Page 3 is your comment section.
• Anything with a yes needs to have additional information here including HOA information, HOA fees, walls shared with neighbors, and of course any known issues and what they are.
• A few other good things that aren’t required, but I think is beneficial is adding what you have replaced (if fairly recent).
• Did you get a new HVAC? Water heater? Write that on page 3 with the other items.
• Keep it general. Facts only.  Date of installation, brand, model and/or serial number and if there is any warranty that may carry over.

If you have Solar Panels:

• Here is an info page that describes different kinds of systems
• Gather ALL your info!
• Don’t be scrambling when you receive an offer, get it together NOW!
• Purchase contract, lease info, PPA info, whatever applies
• Installation contract
• Are there any warranties? Do they convey? How long is left?
• Are there transfer fees for they system and/or warranty?
• Who is going to pay them?
• You would want to know all this, so make sure the buyer does
• I also suggest providing a minimum of 24 months of NV energy bills
• you can log into NV Energy and download/print out up to 24 months.
• Also, know that for a buyer to assume a loan, it can impact how they qualify (not a lease though). Make sure they still qualify to purchase AND assume a loan (if applicable)

Two items to confirm your home has:

• Working smoke detectors
  • Did you take out the batteries? Replace them 
  • Are they yellowed or around 10+ years old? Replace them.
• Water Heater straps (earthquake straps)

If your buyer is getting a loan and appraisal, these are two items that can be called out and require a re-inspect (at a fee). Be a good seller and make sure you have them!

Okay! You are ready to list your house…

• Step One…. Hire a professional photographer!!!
• Here is a great checklist to prepare your home for photos
• You can get simple pictures less than $150 and you can also spends hundreds more by opting to add a video walk thru, drone videos, layout sketches, Instagram reels, etc.

Personally, I would:

• Hire a photographer that does Zillow 3D walk thru.
• They are usually an additional $129+ (based on sqft)
• It includes a layout sketch
• It pushes your listing to the top of Zillow’s algorithm
• There is something called Matterport (and there could be others). They charge much more and Zillow 3D walk thru is just as good.

Strategies for pricing:

• Read my page on Time vs Money.
• Should you get an appraisal? For the most part, no. You can go to multiple online sites and get an idea of the value range. Your appraisal will not carry over for a buyer to utilize if they are obtaining a loan. The lender must order their own appraisal.
• Also, self-appraisals tend to be higher than one from a lender and could give you an inflated sense of your home’s worth.
• When a lender orders an appraisal, it is reviewed by underwriters; therefore, scrutinized by a second party. I believe that is why they tend to be more conservative. 

• If your home has unique qualities and you really want a ballpark, do get one. Tell the appraiser you are listing and to run the numbers as if someone were obtaining a loan.

Next:

• Create a Google Voice number (you will need a Gmail account) so you aren’t handing out your cell number to the entire world.
• List your home on a Wednesday on any and all online sites.
• Get all extra people, kids, animals out of the house for the following weekend.
• Set up an Open House advertisement on Zillow and your other online sources.
• Since it is your home, I would make it as long as possible the first Fri, Sat, Sun. Maybe 9-7?
• If you want, put in listing to please drop a courtesy text if they are dropping by. 
• With low inventory, most serious buyers will see your home pop up and make an effort to come right away. 
• If you don’t get any offers worth entertaining, then for the future, I would just set up your listing to say by Appointment Only

One other way to advertise:

• You could negotiate with a member of the MLS, aka Realtor®, to input your home in the MLS
• This automatically pushes out your listing to not only multiple online sites, but also MLS buyer’s agents.
• In addition, if those buyer’s agents have buyers set up on drips, their buyers will receive notifications automatically through the MLS

• You could choose to handle all other parts of the transaction (offers, negotiations, showings, open houses, etc etc etc)
• The MLS participant and homeowner would need to execute the NV state form 637, Authorization to Negotiate Directly with Seller.
• IF you go this route, make sure the Realtor(R) also has SentriLock lockboxes. That will allow buyer's agents to show even if you are not home. More secure than a manual lockbox from a hardware store BUT also has the ability to give out manual codes. 

 
Just a thought. I’m sure costs would vary as there would still be some paperwork including disclosures and listing contract, E&O insurance that the agent has to pay, and possibly a fee to their brokerage amongst other things

You received an offer! Now what?

• As I say on my Buyer – no agent page, an offer is not just a sales price and a closing date. Make sure you take into account all the fees that are negotiable:
• Seller Concessions/Closing Costs
• Credit towards buyer agent
• Title Fees (Escrow fees, owner’s title policy, lender’s title policy)
• Real Property Transfer Tax (.0051 per $1000 of sales price)
• Appraisal Fee
• Inspection Fees (not just home inspection but if applicable pool, well, septic, etc)
• If you live in an HOA who will pay CIC capital contribution (if applicable), Transfer/set up fee, and CIC demand 
• SIDE NOTE: by NV law, the seller MUST pay and provide the resale package. NRS 116.4109
• Are they asking for a home warranty? Is there a cap on the amount? 

** Understand it is customary for the seller to pay some of these fees. Don’t just feel like these are all on the buyer’s shoulders to pay.  There is a cost of doing business and you should be paying part of the closing costs ** I refer back to the fact EVERY contract has an implied duty of good faith and fair dealing.

Fixtures and Personal property.

• NAC 361.1127 defines "Fixture"
• Our pre-printed contracts have a paragraph that states all existing fixtures and fittings will be transferred free of liens.
• Whether your buyer is using an agent with the LVR forms or something they found on the internet, look for that section to see what is automatically conveying
• Popular items that are considered personal property that would be requested is the washer, dryer, and refrigerator.
• You want to look for the statement that says items will convey in as-is condition
• If you don’t see it, include it in your counter (all personal property items convey in as-is condition with no warranties implied)

SIDE NOTE: Nevada is a contract state. Even if say the washer, dryer, and refrigerator are advertised to be included, if it is NOT IN THE CONTRACT, the seller does not have to leave it. If there is a gray area, make sure it is clarified IN WRITING

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