NAC119.465. Use of specific terms.

     1. Advertising must not contain the terms “appraised,” “appraised value” or similar terms without specifying the statistics or research which support the conclusions, including:

     (a) The date of the appraisal;

     (b) The appraiser’s name, address and telephone number;

     (c) Any limiting conditions and other special factors of the appraisal; and

     (d) The relationship of the appraiser to the developer.

     2. Advertising must not contain the terms “minutes away,” “short distance,” “only miles,” “near” or similar terms which are intended to indicate distance unless the actual distance in miles along a road is stated together with the types of roads traversed.

     3. An advertised promotional offer must not use the terms “free,” “no obligation” or terms of similar import to describe that which is offered unless the offer is unequivocally without conditions.

     4. A lot or interest must not be advertised as being “free” if the prospective purchaser is required to give any consideration or if any additional lots or interests must be purchased to render the “free” lot or interest usable. A lot or interest may be advertised as being offered “for closing costs only,” if the closing costs are fully disclosed.

     5. Advertising which refers to or depicts “roads” or “streets” must affirmatively disclose the nature of those roads or streets, including whether the roads or streets are:

     (a) Paved, gravel or dirt; and

     (b) Traversable year-round by a conventional automobile.

     6. Advertising may use the term “waterfront” property or other terms of similar import only if the lot, parcel, unit or interest being offered actually fronts on a body of water and has full and usable access along the frontage.

     [Dep’t of Commerce, Real Estate Div., § 54, eff. 7-16-80]—(NAC A 5-2-86)