Nevada Real Estate Division
Replaces all previous versions
Seller Real Property Disclosure Form 547
Revised 6/1/2023
Buyers and sellers of residential property are advised to seek the advice of an attorney concerning their rights and obligations as set forth in Chapter 113 of the
Nevada Revised Statutes regarding the seller’s obligation to execute the Nevada Real Estate Division’s approved “Seller’s Real Property Disclosure Form”. For
your convenience, Chapter 113 of the Nevada Revised Statutes provides as follows:
CONDITION OF RESIDENTIAL PROPERTY OFFERED FOR SALE
NRS 113.100 Definitions. As used in NRS 113.100 to 113.150, inclusive, unless the context otherwise requires:
1. “Defect” means a condition that materially affects the value or use of residential property in an adverse manner.
2. “Disclosure form” means a form that complies with the regulations adopted pursuant to NRS 113.120.
3. “Dwelling unit” means any building, structure, or portion thereof which is occupied as, or designed or intended for occupancy as, a residence by one person who
maintains a household or by two or more persons who maintain a common household.
4. “Residential property” means any land in this state to which is affixed not less than one nor more than four dwelling units.
5. “Seller” means a person who sells or intends to sell any residential property.
(Added to NRS by 1995, 842; A 1999, 1446)
NRS 113.110 Conditions required for “conveyance of property” and to complete service of document. For the purposes of NRS 113.100 to 113.150, inclusive:
1. A “conveyance of property” occurs:
(a) Upon the closure of any escrow opened for the conveyance; or
(b) If an escrow has not been opened for the conveyance, when the purchaser of the property receives the deed of conveyance.
2. Service of a document is complete:
(a) Upon personal delivery of the document to the person being served; or
(b) Three days after the document is mailed, postage prepaid, to the person being served at the person’s last known
address. (Added to NRS by 1995, 844
)
NRS 113.120 Regulations prescribing format and contents of form for disclosing condition of property. The Real Estate Division of the Department of Business
and Industry shall adopt regulations prescribing the format and contents of a form for disclosing the condition of residential property offered for sale. The regulations must
ensure that the form:
1. Provides for an evaluation of the condition of any electrical, heating, cooling, plumbing and sewer systems on the property, and of the condition of any other aspects
of the property which affect its use or value, and allows the seller of the property to indicate whether or not each of those systems and other aspects of the property has a defect
of which the seller is aware.
2. Provides notice:
(a) Of the provisions of NRS 113.140 and subsection 5 of NRS 113.150.
(b) That the disclosures set forth in the form are made by the seller and not by the seller’s agent.
(c) That the seller’s agent, and the agent of the purchaser or potential purchaser of the residential property, may reveal the completed form and its contents to any purchaser
or potential purchaser of the residential property.
(Added to NRS by 1995, 842
)
NRS 113.130 Completion and service of disclosure form before conveyance of property; discovery or worsening of defect after service of form; exceptions;
waiver.
1. Except as otherwise provided in subsection 2:
(a) At least 10 days before residential property is conveyed to a purchaser:
(1) The seller shall complete a disclosure form regarding the residential property; and
(2) The seller or the seller’s agent shall serve the purchaser or the purchaser’s agent with the completed disclosure form.
A seller’s agent shall not complete a disclosure form regarding the residential property on behalf of the seller.
(b) If, after service of the completed disclosure form but before conveyance of the property to the purchaser, a seller or the seller’s agent discovers a new defect in the
residential property that was not identified on the completed disclosure form or discovers that a defect identified on the completed disclosure form has become worse than
was indicated on the form, the seller or the seller’s agent shall inform the purchaser or the purchaser’s agent of that fact, in writing, as soon as practicable after the discovery
of that fact but in no event later than the conveyance of the property to the purchaser. If the seller does not agree to repair or replace the defect, the purchaser may:
(1) Rescind the agreement to purchase the property; or
(2) Close escrow and accept the property with the defect as revealed by the seller or the seller’s agent without further recourse.
(c) A seller’s agent is not liable to the purchaser for damages if:
(1) The seller is aware of a defect and fails to disclose the defect to the purchaser on the disclosure form as required pursuant to paragraph (a); or
(2) After service of the completed disclosure form but before conveyance of the property to the purchaser, the seller discovers a new defect in the residential property
that was not identified on the completed disclosure form or discovers that a defect identified on the completed disclosure form has become worse than was indicated on the
form and fails to inform the purchaser or the purchaser’s agent of that fact as required pursuant to paragraph (b).
The provisions of this paragraph do not affect, and must not be construed to affect, the obligation of a seller’s agent to comply with the provisions of paragraph (a) of
subsection 1 of NRS 645.252
.
2. Subsection 1 does not apply to a sale or intended sale of residential property:
(a) By foreclosure pursuant to chapter 107
of NRS.
(b) Between any co-owners of the property, spouses or persons related within the third degree of consanguinity.
(c) Which is the first sale of a residence that was constructed by a licensed contractor.
(d) By a person who takes temporary possession or control of or title to the property solely to facilitate the sale of the property on behalf of a person who relocates to
another county, state or country before title to the property is transferred to a purchaser.
(e) By a fiduciary under title 12 or 13 of NRS, including, without limitation, a personal representative, guardian, trustee or person acting under a power of attorney, who
takes temporary possession or control of or title to the property solely to facilitate the sale of the property on behalf of a person who is deceased or incapacitated.
3. A purchaser of residential property may not waive any of the requirements of subsection 1. A seller of residential property may not require a purchaser to waive any of
the requirements of subsection 1 as a condition of sale or for any other purpose.
4. If a sale or intended sale of residential property is exempted from the requirements of subsection 1 pursuant to paragraph (a) of subsection 2, the trustee and the
beneficiary of the deed of trust shall, not later than at the time of the conveyance of the property to the purchaser of the residential property, or upon the request of the purchaser
of the residential property, provide:
(a) Written notice to the purchaser of any defects in the property of which the trustee or beneficiary, respectively, is aware; and
(b) If any defects are repaired or replaced or attempted to be repaired or replaced, the contact information of any asset management company who provided asset
management services for the property. The asset management company shall provide a service report to the purchaser upon request.
5. As used in this section:
(a) “Seller” includes, without limitation, a client as defined in NRS 645H.060.
(b) “Service report” has the meaning ascribed to it in NRS 645H.150.
(Added to NRS by 1995, 842; A 1997, 349; 2003, 1339; 2005, 598; 2011, 2832; 2021, 961; 1081)
Seller(s) Initials Buyer(s) Initials