You Decide Realty · Short Sale & Foreclosure Help Center
A Notice of Sale means the trustee has set an auction date. It is the last stage before the sale, and it is not the end. Nevada law still gives an owner-occupant real ways to stop the sale, slow it down, or sell on your own terms and keep your equity.
If a letter from Ken Calder brought you here: this page is the plan, in order. You can read all of it without giving us your name.
Find your sale date today. If you live in the home, you can generally reinstate the loan until five days before the sale. NRS 107.0805 Submit an application for a modification, short sale or deed-in-lieu this week: most servicers may not hold the sale while it is under review, as long as you complete it within 30 days. NRS 107.530 Then find out whether you have equity. If you do, a normal sale before the auction protects it. If you do not, a short sale with a written deficiency waiver is usually the cleanest way out.
Once a Nevada trustee’s sale is held, the buyer takes title with no right of redemption. NRS 107.080(5) There is no buy-back period. Everything on this page has to happen before the sale date.
The notice of sale is published for three weeks before the auction. NRS 107.080(4) Here is how to use that time.
It is on the Notice of Sale mailed to you, posted on the property, and published in the newspaper. Count back five days: that is your last day to reinstate if you live in the home. Keep every notice and its envelope; the dates matter.
First, the reinstatement amount — the exact figure to bring the loan current, with a good-through date. Second, an application for a foreclosure prevention alternative: a loan modification, a short sale or a deed-in-lieu. Under Nevada’s Homeowner’s Bill of Rights, once you submit it, the servicer may not hold the sale until it is decided, as long as you finish the application within 30 days of the servicer’s acknowledgment. NRS 107.530
Compare what the home would sell for with everything you owe on it: the loan payoff with the missed payments and fees, any second mortgage or HELOC, and any HOA balance. Use the net sheet below for a first look, or call and we will pull the payoff picture and a value for you at no charge.
Keep the home: reinstate, or pursue the modification application. Sell with equity: list now; a priced-right sale or a cash buyer can close before the auction. Underwater: list as a short sale and add the offer to your application. No buyer realistic: ask about a deed-in-lieu. You can pursue more than one at once. NRS 107.470
Trustee sales are postponed all the time when a credible offer or a pending application is in front of the lender. It is a request, not a right, so put it in writing with the offer attached. If the sale is not held within 90 days of the notice of sale being recorded, that notice must be rescinded and the trustee has to start the notice of sale over. NRS 107.550
For owner-occupied housing, the right to cure the default runs until five days before the sale date. NRS 107.0805(1)(a) If the debt problem is bigger than the house, talk to a bankruptcy attorney before this point: filing triggers an automatic stay that stops the sale. That is a legal decision, not a real estate one.
Proceeds are paid in a fixed order: the costs of the sale, then the foreclosing lender, then any junior liens in order of priority, and then whatever is left goes to you. NRS 40.462 Be wary of companies offering to recover it for a fee: Nevada bars those agreements in the first 30 days after the sale and presumes a fee over $2,500 unreasonable. NRS 40.463 Ask the trustee directly first.
Two very different situations
The home is worth more than everything you owe on it. This is not a short sale; it is a normal sale on a short clock. Sell before the auction, pay the loan off in full, and the difference is yours. At auction, bidders set the price and you can only claim what is left after every lien is paid.
What matters most: pricing to sell fast, a buyer who can actually close before the sale date, and a written postponement request the moment you are in escrow.
You owe more than the home would sell for. A short sale lets the lender release its lien for less, with its written approval. The lender pays the commission from the proceeds, and a Fannie Mae loan carries a $7,500 relocation payment for a principal residence.
What matters most: the deficiency waiver in the approval letter, NRS 40.458, and the 2026 tax rule on forgiven debt. How it works → · The waiver → · Taxes →
Rough numbers are fine. Nothing you type here is stored or sent anywhere. This is an estimate, not an appraisal or a payoff statement.
The 1.5% closing-cost figure is a starting assumption, not a quote; your escrow officer sets the real number. Commissions are negotiable and are not set by law. In a short sale the lender approves every cost on the settlement statement.
This is the offer in the letter, in writing.
Questions we get every week
The notice of sale must be published once a week for three weeks and posted for 20 days before the auction, so the sale is usually about three weeks or more away when it arrives. Check the date on the notice. If you live in the home, you can generally reinstate until five days before that date under NRS 107.0805. If the sale is not held within 90 days of the notice being recorded, NRS 107.550 requires it to be rescinded.
Often, yes. Under NRS 107.530, once you submit an application for a foreclosure prevention alternative, a servicer covered by Nevada's Homeowner's Bill of Rights may not hold the sale while it is under review, provided you complete it within 30 days of the servicer's acknowledgment. Lenders that foreclosed on 100 or fewer Nevada owner-occupied homes in their last reporting year are exempt under NRS 107.460. The federal rule is narrower: it only protects a complete application received more than 37 days before the sale. Submit it now, completely, and keep proof.
Yes, right up to the sale. If you have equity, a normal sale pays the loan in full and the difference is yours. If you owe more than the home is worth, a short sale needs the lender's written approval, which takes time, so ask for a postponement in writing as soon as you have an offer.
Under NRS 40.462 the proceeds pay the costs of the sale, then the foreclosing lender, then junior liens in order, and anything left is paid to you. But bidders set the price, and you have to claim the surplus. A sale you control before the auction usually protects far more of your equity.
Usually. An owner-occupant must elect Nevada foreclosure mediation within 30 days after service of the Notice of Default, under NRS 107.086(3), so by the Notice of Sale stage that window has almost always closed. If you did elect it and the mediation is still pending, the sale cannot go forward until it is completed.
Once a Nevada trustee’s sale is held, title vests in the purchaser with no right of redemption — there is no undo. But until then, an owner-occupant’s right to reinstate generally runs to five days before the sale, and a pending offer is a reason to ask for a postponement.
702-843-0044Ken Calder · Nevada Broker B.1001776 · Speak to a licensed broker, not a call center.
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No judgment, no sales pitch, and no pressure to list anything. If the right answer is a loan modification, a bankruptcy attorney, or a HUD counselor instead of us, that is what we will say. We are a licensed Nevada brokerage, not a foreclosure rescue company — and we never charge a homeowner a fee to look at their situation.
We do not publish a figure, a deadline, or a statute we have not read. Every claim above traces to one of these. If you find something here that is out of date, tell us and we will fix it and re-stamp the page.