NAC119A.355. Use of certain terms.

     1. An advertisement must not contain the term “appraised,” “appraised value” or any other similar term without specifying the statistics or materials which support the conclusion, 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. An advertisement must not contain terms such as “minutes away,” “short distance,” “only miles,” “near” or similar indistinct or indefinite 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. A promotional offer which is advertised must not use the terms “free,” “no obligation” or a term of similar import to describe that which is offered unless the offer is unequivocally without conditions.

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

     5. An advertisement 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 paved, gravel or dirt, and if a road or street is not traversable year-round by a conventional automobile.

     6. An advertisement may use the term “waterfront” project or other terms of similar import only if the project, time-share unit or interest being offered actually fronts on a body of water and has full and usable access along the frontage.

     (Added to NAC by Real Estate Div., eff. 12-3-84; A 5-2-86)