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Learning Center | How to Buy Nevada Foreclosures

How to Buy Nevada Foreclosures
Overview
Basic Steps to Purchasing Preforeclosures
Basic Steps to Purchasing Property at an Auction Sale

Answers
 

Overview

In Nevada, the primary method ofdeed of trustforeclosure isnon-judicial. However, if thedeed of trust does not containpower of sale language, the lender may seekjudicial foreclosure.

There is a rather lengthy notice and cure period between the time a property owner receives anotice of default until the property is sold at apublic foreclosure auction sale – usually at least four (4) months or more. Accordingly, don’t wait until the property becomesReal Estate Owned (REO) after the auction because the property will cost more than it would inpreforeclosure.


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