Nevada Law and Reference Guide, Fourth Edition, 2014, Section IV. Numerous other jurisdictions agree with this interpretation. So, what is the legal effect of “as is” disclaimers? When a seller lists a home “as is,” it means he can’t or won’t negotiate with the buyer over any fixes or credits.

Is a net listing in Nevada legal?

One broker is authorized to act as the agent. The broker agrees to sell the property in order to achieve a net price to the owner, and anything which is received above the net price is the broker’s commission. A net listing is prohibited by the licensing law in many states.

Will a bank finance a house as is?

Financing Options for As-Is Homes As we mentioned earlier in the article, unfortunately lenders will typically not lend to you if the repairs on the home will affect the livability, even if you are opting for a flexible loan through the Federal Housing Association (FHA).

Can a non owner of a home receive compensation?

Although the non-owner spouse may be able to receive compensation for a portion of the home’s equity, he or she will usually not receive the property itself outside an agreement by the parties to do so.

Can a home that was purchased before marriage be divided?

General Rule. A home that was purchased prior to the marriage and owned by one spouse is generally considered separate property and is not subject to division. However, there are exceptions to this rule.

How can you tell who owns a property in your state?

Most states, except those listed as community property states, below, use the “common law” system of property ownership. In these states, it’s usually easy to tell which spouse owns what. If only your name is on the deed, registration document, or other title paper, it’s yours.

Do you have to sign a prenup to own community property?

Married couples don’t have to accept the rules about what is community property and what isn’t. They can sign a prenup, postnup, or other written agreement that makes some or all community property the separate property of one spouse, or vice versa. Some community property can avoid probate.