Upcoming Foreclosures

What % of Foreclosures sell at Trustee Sales?

My house is set to sell at a Trustee Sale on July 2nd in Nevada . I notice as I look at Foreclosure sites that some homes are Bank owned & some are listed with Realtors. Do houses generally sell at Trustee Sales?? Does anyoneknow how long I have to vacate after a trustee sale in Nevada? Any insight on this would be great!

Public Comments

1. Basically, all homes are sold at a trustee's sale. If there is not an outside buyer, the mortgage company automatically buys the home for the amount of the mortgage. Nevada is probably like the other states. The new owner will have to give you a notice to vacate. If you don't vacate by the time specified on the notice to vacate, they will go to court to get an eviction order. If you don't vacate according to the order, they can get law enforcement to watch and protect them while they physically move your stuff into the street. Don 't wait until the last minute and get embarrassed by having your stuff moved out. Do it yourself and save yourself a lot of harassment and possible extra expense.
2. In the present market in Clark County, NV. You should not expect a bidding war to purchase the property... The trustee will generally bid the amount of indebtedness which will include the debt, past due interest and principle and attorney fees and costs. As far a vacating your property, you need not leave until the new owner completes an unlawful detainer.... Now for some "relatively" good news.... Some new owners will allow you to lease the property (Not many... but a few....) More will offer you a cash bonus payable after you physically and voluntarily vacate. One friend in Green Valley got a $5,000 move out bonus from a luxury home. Another with a 1 Bedroom condo got $1,500. It depends upon the new buyer. Good Luck!