Current Nevada Law: Subject to Verification
This article discusses Nevada title, deed, foreclosure, property-tax and HOA law under current Nevada law as of the last reviewed date, and it is subject to change. Nevada deed-of-trust foreclosure procedures are governed primarily by NRS Chapter 107; Nevada common-interest-community (HOA) lien and foreclosure law is governed primarily by NRS Chapter 116. Statutes, deadlines, procedures and remedies change. Always verify current Nevada law and the specific facts of your situation with a qualified Nevada attorney and title professional before acting.
Don't Think Tax Sale Price Equals Property Value
IF YOU'RE BUYING DISTRESSED NEVADA PROPERTY BECAUSE THE PRICE LOOKS INCREDIBLE, INVESTIGATE WHY IT'S CHEAP BEFORE YOU BID.
Investigate
- Exact parcel
- Legal description
- Physical access
- Occupancy
- Condition
- Liens and interests
- Sale rules
- Title insurability
- Redemption issues where applicable
Vacant Land Risk
A cheap parcel may have no access, no utilities, flood/wash issues, or development restrictions.
Do Not Trespass
Auction interest does not automatically give a prospective buyer the right to enter occupied property.
Property DNA
Property DNA can help with preliminary research. It does not replace legal/title due diligence.