The CIC is trying to charge you what seems high for the certificate of resale package?[See 1 below]

Here is what you tell them….a CIC can only charge $160 for a re-sale package.[See 2 below]  If they try to include anything in the packet other than the six items listed below, such as the clubhouse schedule, tell them they cannot automatically include unnecessary items, to take out the unnecessary items and that your client is only paying the $160.

The certificate must have:

1.)  The CC&Rs & Bylaws.[See 3 below] 

2.) The monthly dues and any current assessments.[See 4 below] 
 
3.) The current budget.[See 5 below] 
 
4.) A statement of any unsatisfied judgments or pending legal actions against the CIC and the status of any actions concerning the CIC.[See 6 below]

5.) A statement of any transfer fees, transaction fees or any other fees associated with the resale of a unit; [See 7 below] and

6.) A statement describing all current and expected fees or charges for each unit.[See 8 below]

Please see my other blogs on CIC:

Nevada Condominium Hotel Disclosure

CIC Unpaid Delinquent Dues And How They Affect REO Listings

Changes to the Nevada CIC Resale Package

Non-Receipt of the Resale Package

Rental Restrictions within an Association

Nevada CIC Charges for Resale Packages

Nevada CIC Addendums


[1] NRS 116.4109  Resales of units.

[2] NAC 116.465 …”an association may not charge more than $160 for preparing the certificate furnished pursuant to NRS 116.4109.”

[3]  Described as, “a copy of the declaration, other than any plats, the bylaws, the rules or regulations of the association and the information statement required by NRS 116.41095,” per NRS 116.4109 (a).

[4] Described as “a statement setting forth the amount of the monthly assessment for common expenses and any unpaid assessment of any kind currently due from the selling unit’s owner,” per NRS 116.4109 (b).

[5] Described as, “a copy of the current operating budget of the association and current year-to-date financial statement for the association, which must include a summary of the reserves of the association required by NRS 116.31152 and which must include, without limitation, a summary of the information described in paragraphs (a) to (e), inclusive, of subsection 3 of NRS 116.31152,” per NRS 116.4109 (c).

[6] Described as, “a statement of any unsatisfied judgments or pending legal actions against the association and the status of any pending legal actions relating to the common-interest community of which the unit’s owner has actual knowledge,” per NRS 116.4109 (d).

[7] Described as, “A statement of any transfer fees, transaction fees or any other fees associated with the resale of a unit,” per NRS 116.4109 (e).

[8] Described as, “In addition to any other document, a statement describing all current and expected fees or charges for each unit, including, without limitation, association fees, fines, assessments, late charges or penalties, interest rates on delinquent assessments, additional costs for collecting past due fines and charges for opening or closing any file for each unit,” per NRS 116.4109 (f).

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