What are the repossession laws in Las Vegas Nevada?

· Nevada repossession laws dictate that a lender must mail all borrowers of a repossessed vehicle a notice stating that you have the right to retrieve (redeem) your car or truck once you have satisfied all of the outstanding issues related to the vehicle repossession.

When do you have to redeem a repo in Nevada?

· The notice from the Nevada repo company will inform you of when you must redeem your repossessed vehicle by before it is to be sold at auction. · You may be required by the lender to pay off the entire loan amount of the repossessed vehicle before getting the car or truck back.

Can a repo agent use violence in Nevada?

· Nevada repossession agents may not use violence in any way to repossess your vehicles, or other property. · Repossessions in Nevada cannot happen when a repo agent has tricked you into bringing your vehicle into a shop and then repossessing it after you’ve left.

Is there a fee for a repo sale?

If you didn’t buy it directly from the bank it’s not a real repo sale. There is no commission or fee when you buy directly from the bank. RepoFinder links to thousands of lenders selling bank owned inventory. Many of them update their repo listings daily. We’re always adding new banks to our list on a regular basis.

Can a bank offer less on a repo sale?

With bank repo and REO sales, don’t be afraid to offer less. Once the initial price is set the bank will open the door to offers or bids. Everything is priced to sell. In some cases it’s a closed bid, so you don’t see what others have offered. More common though is an open bid where all buyers can see the highest offer and compete with each other.