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.
STEP 1: Verify the Notice
Confirm the association, property, owner, collection company, amount claimed, date, and stage of process. Use independently verified contact information where possible.
STEP 2: Request an Accounting
Ask for documentation showing assessments, payments, late amounts, collection charges, and other claimed amounts.
STEP 3: If You Dispute It, Get Help
You may believe you already paid, the HOA applied your payment wrong, or the charge is not valid. Fine. Dispute it properly. Ignoring it will not prove you are right.
STEP 4: Determine Whether You Can Pay or Resolve It
Possible options may depend on circumstances and include payment, a payment arrangement, a dispute, a legal challenge, or another permitted resolution.
STEP 5: Find Out What Your Home Is Worth
This is the part homeowners sometimes miss. Suppose the house is worth $550,000, the mortgage is $275,000, and the HOA delinquency is $12,000. You may have substantial equity. Do not allow embarrassment over a $12,000 HOA problem to keep you from understanding a potentially six-figure asset.
Example
House value: $550,000.
Mortgage: $275,000.
HOA delinquency: $12,000.
You may have substantial equity.
STEP 6: If You Want to Sell, Start Now
Selling may potentially provide a way to pay the mortgage, resolve the HOA obligation, cover transaction costs, and preserve remaining equity. But listing the house does not automatically stop foreclosure. The HOA/collection/legal process must be addressed separately.
LISTING THE HOUSE DOES NOT AUTOMATICALLY STOP FORECLOSURE.
STEP 7: Tell Everyone About the Timeline
If selling, Lisa needs the notice. Title and escrow need relevant information. Your attorney needs it if involved.
Do Not Pay Random Foreclosure Rescue Companies
Be particularly cautious with unsolicited companies promising give us the deed and we will save your credit, we will buy it today for what you owe, or pay $5,000 and we will stop everything. Get independent advice before signing away property.
If You Want to Sell, Lisa Can Help
Lisa can help determine current market value, likely net proceeds, realistic time to sell, property condition strategy, buyer demand, whether repairs make sense, and whether an as-is sale is more practical.
