Nevada § 393.280 - Oral bids; acceptance of highest oral bid; commission for broker
Full text of Nevada Nevada Revised Statutes § 393.280 — Oral bids; acceptance of highest oral bid; commission for broker, with citation guidance and answers to common questions.
§ 393.280. Oral bids; acceptance of highest oral bid; commission for broker
Except as otherwise provided in NRS 393.247 : 1. Before accepting any written proposal, the board of trustees shall call for oral
bids. If, upon the call for oral bidding, any responsible person offers to purchase the
property or to lease the property, as the case may be, upon the terms and conditions
specified in the resolution, for a price or rental exceeding by at least 5 percent
the highest written proposal, after deducting the commission, if any, to be paid a
licensed real estate broker in connection therewith, the oral bid which is the highest
after deducting any commissions to be paid a licensed real estate broker in connection
therewith, which is made by a responsible person, must be finally accepted. 2. If a sale or lease is made on a higher oral bid to a purchaser procured by an authorized,
licensed real estate broker, other than the broker who submitted the highest written
proposal, the board shall allow a commission on the full amount for which the sale
is confirmed. One-half of the commission on the amount of the highest written proposal must be
paid to the broker who submitted it, and the balance of the commission on the purchase
price to the broker who procured the purchaser to whom the sale was confirmed. If a sale or lease is made on a higher oral bid to a purchaser not procured by a
licensed real estate broker, the board shall allow one-half of the commission on the
amount of the highest written proposal, if that highest written proposal was submitted
by a licensed real estate broker.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 393.280
What does Nevada Revised Statutes § 393.280 cover?
Section 393.280 ("Oral bids; acceptance of highest oral bid; commission for broker") 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 § 393.280?
A common citation format is "Nevada Revised Statutes § 393.280" (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 § 393.280 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.