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    • 18000 Toll Road
    • 110 Hoge Road
    • 8685 Eagle Chase Trail
    • 8625 Woodbridge Trail
  • Sold
    • 8605 Woodbridge Trail
    • 0 Estates Road
    • 2450 Lymbery #125
    • 8607 Eagle Chase Trail
    • 3661 Hemlock
    • 1600 Burnside
    • 1620 Pyramid Way
    • 6280 Chickasaw
    • 34 E L St
    • 4220 Cathy Avenue
    • 5028 Pleasant View
    • 450 N. Arlington
    • 5973 Hidden Highlands
    • 3171 Pinero Court
    • 2508 Emblem St.
    • 390 Morningside
    • 8303 Cub Court
    • 1493 Foster Drive
  • About Chris
  • Contact
Blue Sierra Realty in Old Southwest Reno with Chris DeMay
  • Property Management
  • Sell
  • Buy
  • Listings
    • 18000 Toll Road
    • 110 Hoge Road
    • 8685 Eagle Chase Trail
    • 8625 Woodbridge Trail
  • Sold
    • 8605 Woodbridge Trail
    • 0 Estates Road
    • 2450 Lymbery #125
    • 8607 Eagle Chase Trail
    • 3661 Hemlock
    • 1600 Burnside
    • 1620 Pyramid Way
    • 6280 Chickasaw
    • 34 E L St
    • 4220 Cathy Avenue
    • 5028 Pleasant View
    • 450 N. Arlington
    • 5973 Hidden Highlands
    • 3171 Pinero Court
    • 2508 Emblem St.
    • 390 Morningside
    • 8303 Cub Court
    • 1493 Foster Drive
  • About Chris
  • Contact
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How do I go about buying a foreclosure in Reno?

10/18/2017

 
What most people don’t understand is that the foreclosure process involves the lien holder exercising their rights to sell the property at public auction (if someone defaults on their loan). When buyers purchase a foreclosure, they are standing in a public area and bidding on a property. If they are the winning bidder on the property, they must provide a cashiers check right then and there. In other words, unless you have cash, you are not buying a foreclosure at the courthouse steps. Also, when a Reno home is purchased at the courthouse steps, you are taking the property subject to priority liens. In other words, and this is based on a true story, you could buy a home for $40,000 at a public auction and there could still be a $300,000 priority lien. If not paid off, they could foreclose on you and you are out your investment. Read the next paragraph. 
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Chris DeMay
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Broker - Owner
Blue Sierra Realty 
100 N. Arlington Ave. #340 
Reno, NV 89501

License NV# B.145649
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(775) 720-4677
chris@bluesierrarealty.com

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