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Real property transfer tax

Nevada charges a real property transfer tax at recording. Clark County's rate is $2.55 per $500 of value, per the County Recorder.

• Rates range from $1.95 to $2.55 per $500. Washoe County's rate is $2.05, per the Nevada Department of Taxation.
• Under NRS 375.030, the buyer and seller are jointly and severally liable for the tax. The escrow holder is not.
• A Declaration of Value form is required for documents conveying an interest, per the Clark County Recorder.
• Certain transfers are exempt under NRS 375.090.
• Your escrow or title company can give you a full estimate of closing costs.

Seller's Real Property Disclosure

Nevada sellers of residential property generally serve a disclosure form at least 10 days before the home is conveyed (NRS 113.130).

• A completed form is not a warranty, and the buyer still must use reasonable care (NRS 113.140).
• If the form is not served as required, the buyer may rescind before conveyance without penalty (NRS 113.150).
• Exemptions include foreclosure sales, sales between co-owners, spouses or close relatives, and certain fiduciary sales for a deceased person.
• For homes built before 1978, federal law also requires a lead paint disclosure and the EPA pamphlet. Foreclosure sales are among the exemptions.

Foreclosure process and timeline

Nevada trustee's sales follow NRS 107.080. At least 3 months must pass after the notice of default is recorded before a sale.

• Notice of sale is posted for 20 days and published once a week for 3 consecutive weeks.
• For owner-occupied housing, the cure period generally runs until 5 days before the sale date (NRS 107.0805).
• Owner-occupants may petition for mediation through the Home Means Nevada program by filing with the district court (NRS 107.086).
• Many owners in this situation explore selling before the sale date. An attorney or housing counselor can review your timeline.

Probate and inherited homes

Nevada's small estate affidavit can be used 40 days after death, but only when the decedent left no Nevada real property (NRS 146.080).

• The affidavit limit is $25,000, or $150,000 for a surviving spouse.
• A court can set aside an estate without administration when it is worth $150,000 or less (NRS 146.070).
• Summary administration is available when the gross estate, less encumbrances, is $500,000 or less (NRS 145.040).
• Larger estates may need a personal representative appointed through probate.
• A probate attorney can confirm which path fits your family.

Selling a rental with tenants

Nevada generally requires at least 30 days' notice to end a month-to-month tenancy, and 7 days for week-to-week (NRS 40.251).

• Tenants who are 60 or older or have a disability may ask for an additional 30 days.
• Before the deed is recorded, the landlord transfers remaining deposits to the new owner or gives written notice they were returned (NRS 118A.244).
• The new owner must accept the tenant's deposit and cannot require an additional one during the lease.
• We make offers on rentals, and we may buy rentals with tenants in place. A landlord-tenant attorney can explain the notices that apply.

Property tax and capital gains basics

Nevada caps yearly tax bill increases on an owner-occupied primary residence at 3 percent (NRS 361.4723), per the Clark County Assessor.

• Homes that are not owner-occupied get a cap of up to 8 percent.
• A recorded ownership document removes the 3 percent abatement.
• Clark County mails a postcard after an ownership change, and a qualifying owner signs and returns it.
• Federal law lets many sellers exclude up to $250,000 of gain, or $500,000 for married couples filing jointly (IRS Topic 701). You generally must have owned and lived in the home 2 of the last 5 years.

Notes for military sellers

The Servicemembers Civil Relief Act (SCRA) adds protections for servicemembers who own a home in Nevada.

• For a mortgage taken out before service, a lender generally needs a court order to foreclose non-judicially. This applies during service and for one year after, per the Department of Justice.
• The SCRA caps interest at 6 percent on qualifying pre-service mortgages during service and for one year after.
• Eligible uniformed services members may suspend the IRS five-year test during qualified official extended duty, for up to 10 years.
• A military legal assistance office or an attorney can review your situation.

Tell us about the house

Property type, condition, timeline and address. It takes about two minutes.

Talk with us

We call to learn about the property and your plans.

Review your offer

A quick walkthrough confirms the details, then you review a written offer on your own time.

Close on your date

You choose the closing date. The title or escrow company handles the paperwork and the funds.