Nevada § 318.5125 - Second offering at auction; listing of unsold property
Full text of Nevada Nevada Revised Statutes § 318.5125 — Second offering at auction; listing of unsold property, with citation guidance and answers to common questions.
§ 318.5125. Second offering at auction; listing of unsold property
1. If real property that is offered for sale pursuant to NRS 318.5122 and 318.5123 is not sold at the initial offering of the contract for the sale of the real property,
the board of trustees may offer the real property for sale a second time pursuant
to NRS 318.5122 and 318.5123 . The board of trustees must obtain a new appraisal or appraisals, as applicable,
of the real property before offering the real property for sale a second time if: (a) There is a material change relating to the title, zoning or an ordinance governing
the use of the real property; or (b) The appraisal or appraisals, as applicable, were prepared more than 6 months before
the date on which the real property is offered for sale the second time. 2. If real property that is offered for sale pursuant to this section is not sold
at the second offering of the contract for the sale of the real property, the board
of trustees may list the real property for sale at the appraised value with a licensed
real estate broker, provided that the broker or a person related to the broker within
the first degree of consanguinity or affinity does not have an interest in the real
property or an adjoining property. If the appraisal or appraisals, as applicable, were prepared more than 6 months
before the date on which the real property is listed with a licensed real estate broker,
the board must obtain one new appraisal of the real property before listing the real
property for sale at the new appraised value.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 318.5125
What does Nevada Revised Statutes § 318.5125 cover?
Section 318.5125 ("Second offering at auction; listing of unsold property") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 318.5125?
A common citation format is "Nevada Revised Statutes § 318.5125" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 318.5125 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.