Thursday April 24, 2025
Selling a home in a Nevada homeowners association (HOA) comes with a set of unique requirements. One of the most important documents involved in this process is the Nevada resale certificate. This document provides buyers with a comprehensive view of the property’s financial and legal obligations to help them make an informed decision. Whether you're selling a home or assisting as an HOA board member, understanding the role of a Nevada resale certificate can streamline the process. Below, we’ll explore what a Nevada resale certificate is, how to obtain one, and why it matters for both buyers and sellers.This article is for general informational purposes only and does not constitute legal advice. Laws and regulations frequently change and may be subject to local variations. Boards should consult qualified legal counsel and work closely with their property management partner for advice specific to their Nevada HOA.
What is an NV resale certificate?
A Nevada resale certificate is a formal document that provides prospective buyers with insights into a home’s financial responsibilities within an HOA. This document is included in the larger “resale package,” which also includes the HOA’s governing documents and details on upcoming capital expenditures.By reviewing this certificate, buyers can evaluate both the broader financial stability of the community and any property-specific obligations, such as unpaid dues or upcoming assessments. In many Nevada HOAs, governing documents outline when and how the seller must provide the resale certificate.
How do you get a resale certificate in Nevada?
Typically, the homeowner or their real estate agent requests a resale certificate from the HOA or its property management company. The HOA then compiles the necessary financial and legal records. In some cases, there may be a fee for this service, often referred to as a “resale fee” or “transfer fee.”In self-managed HOAs, residents may need to coordinate directly with board members. This could involve confirming your account status with the treasurer or gathering up-to-date budget documentation. The key is to begin the process early so potential buyers have ample time to review all necessary details.
What is an HOA resale fee?
In Nevada, many HOAs charge a resale fee, also known as a transfer fee, to process the resale certificate and update ownership records. Resale fees in Nevada are capped under Nevada Revised Statutes (NRS) 116:- Up to $185 for preparing the resale certificate
- An additional $100 for expedited processing (less than three business days)
- If the HOA can’t provide the documents electronically, it may charge limited copying fees (capped at 25 cents per page for the first 10 pages and 10 cents per page after that)
Are resale certificates required?
Yes, resale certificates are generally required when selling a home governed by an HOA in Nevada. They provide buyers with transparent information about association dues, pending fees, and any special assessments before finalizing the purchase. Some exceptions may apply, such as if a property is being transferred as a gift or through inheritance, or if it’s in foreclosure. Always check your association’s governing documents and consult an HOA attorney to confirm any exemptions.Failure to provide the required resale certificate can lead to complications in the closing process. Buyers may have the right to cancel a sale if they don’t receive the necessary documents. To maintain a smooth transaction, it’s important to confirm whether your community and your specific sale fall under Nevada’s resale requirements.
What information is needed for resale certificates?
In Nevada, resale certificates are governed by NRS 116, which outlines specific requirements for disclosure. Under state law, sellers must provide a buyer with a resale certificate that includes items such as:- A statement of monthly dues or special assessments owed by the property
- The association’s current financial statements and reserve fund balance
- Information on pending litigation involving the HOA
- A summary of insurance coverage provided by the HOA
- Any violations of governing documents or health, safety, and building codes that affect the unit
Can a buyer cancel after receiving the resale certificate?
Depending on the terms outlined in the purchase agreement and the timing of disclosures, a buyer may have a specific window to back out of the sale if they don’t like what they see in the resale package. This isn’t unique to Nevada — many states recognize that discovering unexpected fees or major issues in an HOA can be a deal-breaker. The key is to read the purchase contract carefully so you know exactly how much time is allowed for the buyer’s review and potential cancellation. Property management companies familiar with local regulations can highlight important deadlines and coordinate delivery of the certificate promptly to help keep the process fair for everyone.Working with a property management company
Partnering with a property management company can streamline the process of obtaining a resale certificate, supporting accurate documentation and compliance with Nevada regulations. Property managers can help maintain up-to-date financial records, track homeowner dues, and coordinate with vendors or insurance providers to gather the correct documentation. If you’re on the HOA board, having that professional expertise can spare you from frantic searches for missing spreadsheets or confusion about which version of the association budget is final. And if you’re a homeowner selling your property, a professionally managed community often means fewer roadblocks in the lead-up to your closing date.If your association needs support with resale certificates, day-to-day operations, or long-term community planning, FirstService Residential offers the expertise and resources to help your community run smoothly. Contact us to learn more about how we can support your Nevada HOA.