Posted by Randy (SD) on September 14, 2004 at 10:50:55:
In Nevada or any other state there’s nothing that prevents a buyer and seller from any “agreed price” except if the seller filed bankruptcy. Provisions in the bankruptcy laws allow for a “look back” period during which the bankruptcy trustee can unwind the sale if it was for less than fair market value. Since Nevada has no redemption period 1 minute after the sale “it’s too late to buy conventionally”, prior to the sale write up a purchase agreement with the seller, contact the foreclosing lender requesting an extension on the foreclosure date to allow time to perform.