11 Overland Ln

VIEWS !!! Unobstructed views. This home is located 5 miles outside Yerington in the El Rancho Estate Subdivision. Newer home with lots of potential. Open floor plan. Large kitchen with stainless steel farm sink. The Property is part of a probate estate. Seller is the court appointed personal representative of the estate and is not the title owner of the Property. Seller was granted full authority under the Independent Administrations of Estate Act (IAEA), which typically allows Seller to sell the Property without court confirmation. However, Court confirmation may still be required in certain circumstances as described below: (A) Seller must give notice of the proposed sale to the devisees and heirs of the decedent and any other interested parties in the estate. The noticed persons will have 15 days to object to the proposed sale. If any noticed person objects, the sale will require court confirmation. Buyer shall have 3 days after receipt of notification of an objection to cancel this Agreement. If Buyer elects to cancel, Seller shall refund deposit money held, less applicable costs. (B) The purchase price must be at least 90 percent of the appraised value of the Property. If the purchase price is less than 90 percent of the appraised value, the sale will require court confirmation. Buyer shall have 3 days after receipt of notification that the purchase price is less than 90 percent of the appraised value to cancel this Agreement or to increase the purchase price to the minimum amount required. If Buyer elects to cancel, Seller shall refund deposit money held, less applicable costs. (C) Seller has the option to voluntarily seek court confirmation for the proposed sale. If Seller elects to seek court confirmation for the proposed sale, Seller shall inform Buyer within the time allowed under this Agreement for making Seller Disclosures. Buyer shall then have 3 days from such notification to cancel this Agreement. If Buyer elects to cancel, Seller shall refund deposit money held, less applicable costs. If court confirmation is required, a hearing will be held and the Property will be offered for overbid to other interested buyers (if any). Buyer must personally appear at the court confirmation hearing to participate in the overbid process. If Buyer is overbid and the property is sold to someone else, Buyers deposit money, less any applicable costs, shall be returned to Buyer. If Buyer is not overbid, the sale will proceed to closing and the court order confirming the sale will be incorporated as an addendum to this Agreement. Consult NRS 148.050, et al. or a licensed attorney for more information about the court confirmation process.