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Closing a foreclosure deal is a complicated task and in Nevada most lenders who intend to foreclose on a property use the non-judicial foreclosure process. This process is less expensive for the lender, it doesn’t require a court-proceeding and it involves a shorter Nevada Foreclosure Timeline. The truth is that with so many Nevada homeowners at risk of losing their properties to foreclosure, realtors must be familiar with Nevada Foreclosure Timeline and assess whether they have enough time to market the property and close the deal before the property is lost. Usually, once the court declares a foreclosure the property will be auctioned to the highest bidder and the Nevada Foreclosure Timeline for the borrower is of twelve months. We should also mention that Nevada Foreclosure Timeline is used only when in the mortgage or deed of trust there is a power of sale clause which enables the borrower to pre-authorize the sale of the property in order to pay off the balance on a loan!

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