Unless the property was inherited or gifted to you, most residential homes are sales that are governed by the law of contracts. The Nevada Real Estate Division has standardized this form and if you have ever purchased a property in Nevada, you probably have seen the form, also known as, a “Purchase Sale Agreement”.
Where many issues arise in purchasing and/or selling a home or house, is a failure to disclose a known defect or adverse condition. Pursuant to Nevada law, a seller of a residential property must disclose to the buyer “any other conditions or aspects of the property which will affect its value or use in an adverse manner.” These are some examples of cases we have handled:
- Concealing a large crack in the concrete slab carpet
- Water damage that was not fixed or remediated properly
- Water damage that resulted in mold in the walls
- A seller did not make buyer aware that home was subject to construction defect litigation
- Failure to disclose easements, right-of –ways, and/or property lines
In addition to a failure to disclose known adverse conditions, we have also defended and prosecuted cases of misrepresentation and fraud:
- A seller represented that the home was connected to county sewer lines but the house actually had a septic system
- A seller represented that all renovations was up to code when it was not
- A seller misrepresented material facts about the property
- Misrepresentation of the area of land ownership
Other areas that we have defended and prosecuted cases, include:
- Option contracts – generally an option contract in real estate happens when the seller agrees to sell you a house in the future as long as you meet certain conditions. Sometimes, especially when the housing market goes up, the seller may renege on the agreement because his house may be worth more. As a buyer, you have the right to enforce the contract under specific performance.
- Time is of the essence” clauses – This term is used in agreements if the purchase, usually payment, must be made within specific time frame. Failure to make payment within this time frame could cost you a home.
We assist commercial property owners with any breach of contract issues that may arise from purchasing the property and/or any tenant issues including the following:
- Breach of Purchase agreements
- Writs of Possession
- Any Contract review
- Breach of Lease agreements, including tenants that abandon the premises
Our clients have included: purchasers, sellers, investment groups, real estate broker, Real Estate Agents, Title Companies, and Mortgage Brokers. We have successfully defended and prosecuted:
- Failure to disclose known/unknown defects and conditions
- Quiet Title Actions
- Breach of Purchase Agreements and Option to Purchase
- Specific Performance Actions
- Lis Pendens Extinquishments
So, if you are a Buyer, Seller, Realtor, Broker or an owner of a property, residential or commercial, and you find yourself in legal troubles, we can help. All of our initial consultations are FREE and confidential.
Call us now at (702) 405-0001. You peace of mind is just a phone call away.