How a foreclosure actually moves in Nevada — the real process, the statutory clock step by step, and what happens after the sale: redemption, deficiency, and the statutes behind every deadline. Read it before a sale date reads you.
Process: Non-judicial (deed of trust trustee's sale); judicial foreclosure also available under the one-action rule.
Non-judicial trustee's sale under NRS 107.080 — the overwhelmingly used route. Judicial foreclosure (NRS 40.430-40.459) is the alternative; a mortgage without a power of sale must be foreclosed judicially.
| # | Step | Timing |
|---|---|---|
| 1. | Owner-occupied residential mortgage loan only: pre-default notice (account summary, amount to cure, foreclosure-prevention alternatives, counseling contacts) and required borrower contact | >= 30 days before recording the notice of default, and >= 30 days after default (NRS 107.500, 107.510) |
| 2. | Record the notice of default and election to sell; mail copies (registered/certified) to the grantor, record title holder, request-for-notice parties and guarantors; for residential foreclosure also record the affidavit of authority and post a copy on the property | Day 0 (NRS 107.080(2)-(3), 107.0805, 107.087); request-notice copies mailed within 10 days (NRS 107.090) |
| 3. | Reinstatement window (pay arrears, fees and costs — distinct from redemption) | 35 days generally (NRS 107.080(2)(a)); for owner-occupied residential, until 5 days before the sale (NRS 107.0805(1)(a)) |
| 4. | Owner-occupied: serve the statutory 'YOU ARE IN DANGER OF LOSING YOUR HOME' danger notice with a copy of the note; mediation notice/forms attach (Foreclosure Mediation Program) | >= 60 days before the sale (NRS 107.085(2)(a)); mediation per NRS 107.086 |
| 5. | Mandatory waiting period after the notice of default | >= 3 calendar months must elapse after recording (NRS 107.080(2)(d)) |
| 6. | Record and give the notice of sale: serve/mail to all entitled persons; post in public places for 20 successive days; publish once a week for 3 consecutive weeks; post on the property (residential) | After the 3 months expire (NRS 107.080(4)); property posting <= 15 days before the sale (NRS 107.087) |
| 7. | Trustee's sale (public auction) | 9 a.m.-5 p.m. at the county-designated public location (NRS 107.081) |
NONE after a trustee's sale — the sale vests title 'without equity or right of redemption' (NRS 107.080(5)). After a JUDICIAL sale there is a 1-year redemption (NRS 21.190, 21.210: purchase price + 1% per month + taxes/assessments/prior-lien payments).
Allowed. Application must be made within 6 months after the sale (NRS 40.455(1); multi-parcel: 6 months from the last sale, never more than 2 years after the first, § 40.455(2)). The court holds a fair-market-value hearing (NRS 40.457); the judgment may not exceed the LESSER of (debt minus FMV at sale) or (debt minus sale price), with interest (NRS 40.459). A party that bought the deficiency right is also capped by the consideration it paid (NRS 40.459). NARROW BAR: no deficiency only if ALL of NRS 40.455(3) are met — creditor is a financial institution, single-family dwelling owned by the debtor at sale, loan proceeds used to purchase the property, debtor continuously occupied it as a principal residence, and it was never refinanced. No general purchase-money rule; investor/non-owner-occupied and private-lender loans are outside the bar.
Whatever stage the foreclosure is in, an investor buying the house is still a principal buyer under this state's wholesaling rules — see the wholesaling-law page for this state for the assignment, disclosure, and marketing rules that apply to the purchase itself.
For an owner, the timeline is a set of closing doors: the earlier the stage, the more options exist — cure, reinstate, sell, or work something out with the lender. For an investor, a pending sale date is the hardest deadline in the deal: a purchase has to be agreed and closed before the sale, or there is nothing left to buy. Either way, the numbers that decide the deal are the same ones on our calculators — run them before the clock runs out.
The wholesaling rules for all 9 states we operate in, on paper, statute-cited — including the rules that apply when you buy from an owner in foreclosure.