We Buy Houses for Cash in Nevada

Nevada home sales have their own rhythm. The real property transfer tax rate depends on the county, the seller disclosure form is due at least 10 days before the sale closes and cannot be waived, homes in a homeowners association come with a resale package and a buyer's right to cancel, and an owner-occupant facing foreclosure has a short window to ask for state mediation. Whether the house is in a Las Vegas subdivision, a Reno neighborhood or a small rural town, Swifty Home Buyers can buy it for cash as it stands, with no agent commissions and no repair list, and close when you are ready. Here is what Nevada law says about the parts of a sale that matter most.

We buy houses in all 50 states. This guide covers the rules that matter in Nevada.

Nevada's real property transfer tax is collected by the county recorder when the deed is recorded, and the rate is stated per $500 of value. Clark County's rate is $2.55 for each $500 of value or fraction of $500, which is $5.10 per $1,000, or $1,275 on a $250,000 sale. Washoe County's rate is $2.05 per $500, which works out to $2,050 on a $500,000 sale. The Recorders' Association of Nevada lists a base rate of $1.95 per $500 in most counties, with 60 cents added in Clark and 10 cents added in Washoe and Churchill. Under NRS 375.030 the buyer and seller are jointly and severally liable for the tax, so the purchase agreement should say who pays it. Each transfer also needs a Declaration of Value form so the recorder can compute the tax, which is based on the selling price or, in some cases, an estimated fair market value. The other seller costs are the usual ones: a listing commission (negotiable, and often the largest), title and escrow fees, the HOA resale package, which the statute has the owner pay for, loan and lien payoffs, and prorated property taxes. Selling to Swifty means no commission and a written list of costs before you sign.

Nevada foreclosures under a deed of trust proceed outside court under NRS 107.080. After a notice of default is recorded, the owner and others with an interest have 35 days to make good the deficiency, and not less than 3 months must pass after recording before the sale can go forward. Notice of the sale must be posted in a public place for 20 days in a row and published once a week for 3 consecutive weeks. If the home is your owner-occupied primary residence, the State of Nevada Foreclosure Mediation Program is available. Under NRS 107.086 you have 30 days after the notice is served to elect mediation, and Home Means Nevada, Inc. explains that you file a petition with the district court and serve the lender, the trustee and Home Means Nevada; the district courts oversee the cases. Vacation homes, second homes and rentals are not eligible. After a sale, the lender can seek a deficiency judgment only by applying within 6 months after the foreclosure sale, and the court must hold a hearing first (NRS 40.455). A HUD-approved housing counselor or a Nevada attorney can help you sort out your options. If you decide to sell, a closing before the trustee's sale pays off the loan from the proceeds and keeps any equity with you.

• Sell as-is
• Inherited house
• Foreclosure
• Tenants or rental property

Clark County and Las Vegas

Clark County's transfer tax rate is $2.55 per $500 of value, the highest on the Recorders' Association of Nevada's list, compared with a base of $1.95 in most counties, and the Recorder collects it at the time of recording. On a $400,000 Las Vegas sale that is $2,040, while the same price in Washoe County at $2.05 per $500 would be $1,640. Because the buyer and seller are jointly and severally liable, it pays to agree in writing on who covers it. If your home is in an association, the NRS 116.4109 resale package and the buyer's five-day cancellation window will be part of the sale too. Ask for the association's documents early, since it has 10 calendar days to respond.