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Las Vegas Area Sellers and Sales (Transaction) Categories: Trustee's Sales (#6 in a series)
 
Las Vegas Area Seller or Transaction Category (#6 in a series):  The Trustee's Sale
A Trustee's Sale is a type of Sale.
A Trustee's Sale is technically the "foreclosure sale".  This is the final action in a foreclosure where the home goes "back to the bank."
OR DOES IT?
Not necessarily as the public has a crack at the "auction" type of atmosphere.  Many investors are picking up some fantastic bargains during these trustee's sales.  These sales are all cash sales.  Investors have been "flipping" these homes, using them as rentals or even using them for their own personal residences.
What happens before the Trustee's Sale?
The homeowner goes in default (quits making their payment) The homeowner is sent a "notice of default" (NOD) typically around 3-4 months after they stopped making their payments A "sale date" is set.  This is what is known as the "Trustee's Sale".  The sale date is typically set 2-4 months after the NOD is sent out.  This sometimes gets postponed if the homeowner is making a valiant effort to keep their home. How do I find out about Trustee's Sales?
They are held almost every day at 930 S 4th St, Las Vegas. You ... more

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