This video is part of my series where I explain the methods and procedure for Tax Sales in each state. In this post, I will discuss Nevada Tax Sales.
Nevada Tax Sales Explained
With its 16 counties, Nevada is a “mixed tax state”. This means it conducts both tax deed and tax lien sales. The interest rate is 12% for liens but most of the counties only handle tax deed sales. The redemption period is 120 days for vacant land while developed land is 2 years. The rules for tax auctions vary in each county.
Each County’s rules to bid are different, so do your due diligence. Some require a deposit; others do not. Clark County, for example, only allows 280 registered bidders.
Bidding is rotational.
Redemption Period Issues
While there is no redemption period on tax deed property e, there is a two-year waiting period. During that time, the previous owner may challenge the sale. he must show that taxes were paid; in other words, that the county made an error. Or he must show that proper procedure was not followed in connection with the sale. Again, some sort of county error. because of this, you may have difficulty obtaining title insurance on the property. Also, a tax lien sale may not satisfy all other encumbrances on the real property.
Timing
Nevada is pretty good to work in even though their system seems a bit convoluted. I give them a rating of 3 out of 5.
Interested in Tax Sales in Another State?
Tax Sales investing is a niche that has the potential to be insanely profitable.
However, most investors do not have a deep understanding of this investing strategy.
Every state has a unique set of rules and regulations. There are some basic rules you need to understand as to how the process works. Generally, states will fall into one of three categories:
- Tax Lien States
- Tax Deed States
- Hybrid States
Hybrids are states who conduct their tax sales by selling tax deeds with a caveat. The deeds have a redemption period much like a tax lien certificate.
This map provides links to information for every state as well as Washington DC.
