“Agreement” includes this document as well as all accepted counteroffers and addenda.
“Appraisal” means a written appraisal or Notice of Value as required by any lending institution prepared by a licensed or certified professional.
“Bona Fide” means genuine.
“Buyer” means one or more individuals or the entity that intends to purchase the Property.
“Broker” means the Nevada licensed real estate broker listed herein representing Seller and/or Buyer (and all real estate agents associated therewith).
“Business Day” excludes Saturdays, Sundays, and legal holidays.
“Calendar Day” means a calendar day from/to midnight unless otherwise specified.
“CFR” means the Code of Federal Regulations.
“CIC” means Common Interest Community
(formerly known as “HOA” or homeowners associations).
“CIC Capital Contribution” means a one time non-administrative fee, cost or assessment charged by the CIC upon change of ownership.
“CIC Transfer Fees” means the administrative service fee charged by a CIC to transfer ownership records.
“Close of Escrow (COE)” means the time of recordation of the deed in Buyer’s name.
“Default” means the failure of a Party to observe or perform any of its material obligations under this Agreement.
“Delivered” means personally delivered to Parties or respective Agents, transmitted by facsimile machine, electronic means, overnight delivery, or mailed by regular mail.
“Down Payment” is the Purchase Price less loan amount(s).
“EMD” means Buyer’s earnest money deposit.
“Escrow Holder” means the neutral party that will handle the closing.
“FHA” is the U.S. Federal Housing Administration.
“GLVAR” means the Greater Las Vegas Association of REALTORS®.
“Good Funds” means an acceptable form of payment determined by ESCROW HOLDER in accordance with NRS 645A.171.
“IRC” means the Internal Revenue Code (tax code).
“LID” means Limited Improvement District.
“N/A” means not applicable.
“NAC” means Nevada Administrative Code.
“NRS” means Nevada Revised Statutes as Amended.
“Party” or “Parties” means Buyer and Seller.
“PITI” means principal, interest, taxes, and hazard insurance.
“PMI” means private mortgage insurance.
“PST” means Pacific Standard Time, and includes daylight savings time if in effect on the date specified.
“PTR” means Preliminary Title Report.
“Property” means the real property and any personal property included in the sale as provided herein.
“Receipt” means delivery to the party or the party’s agent.
“RPA” means Residential Purchase Agreement.
“Seller” means one or more individuals or the entity that is the owner of the Property.
“SID” means Special Improvement District.
“Title Company” means the company that will provide title insurance.
“USC” is the United States Code.
“VA” is the Veterans Administration.