Nevada Real Estate: Buying & Selling Guide

How buying and selling a home works in Nevada

Nevada is an escrow-and-title state: instead of a closing attorney, a neutral escrow or title company holds the money and documents, clears the title, and records the deed. Licensees are regulated statewide by the Nevada Real Estate Division (NRED) under NRS Chapter 645, while several of the costs at closing are set at the county level. Almost everything below is statewide Nevada law; where a figure is local — Clark County, or a specific city such as Las Vegas or Henderson — it is flagged. Home Stimulus operates across the state with a 1% listing fee, a buyer rebate where Nevada law permits one, all-cash offer options, and agent matching, but the legal framework here applies no matter which brokerage you use.

Who holds the money: title and escrow

Expect to open escrow with a title company, review a title commitment and preliminary report, and pay for an owner's title policy (who pays which policy is negotiable and varies by contract). Property taxes are prorated between buyer and seller as of the closing date. Two line items catch first-timers off guard: the Real Property Transfer Tax and the property-tax proration, both explained below.

Commissions and buyer rebates under Nevada law

Real-estate commissions in Nevada are not set by statute and are fully negotiable. A licensee may not pay any share of a commission to an unlicensed person, and a salesperson may be paid only through the broker they work under (NRS 645.280). Rebates to a client — for example, a buyer — are not prohibited in Nevada, but they must be disclosed: accepting, giving, or charging an undisclosed commission, rebate, or profit on a client's transaction is an explicit ground for discipline under NRS 645.633. That disclosure rule is the legal basis for a transparent buyer rebate.

Nevada buyers should also know that, following the 2024 national settlement over broker commissions, buyers now typically sign a written buyer-broker agreement before touring homes, and the buyer-agent's compensation is negotiated rather than assumed from the listing. That change is national, but it applies in Nevada like everywhere else, and it is worth understanding before you agree to any fee.

Property taxes: the 35% assessment ratio and the tax cap

Nevada does not tax your home's full market value. Under NRS 361.225, all property is assessed at 35% of its taxable value, and the county applies the combined tax rate to that assessed figure. A home with a $400,000 taxable value therefore has a $140,000 assessed value, and the rate is applied to the $140,000, not the $400,000.

Just as important is Nevada's partial tax abatement, commonly called the "tax cap" (NRS 361.4722 through 361.4734, enacted in 2005). It limits how much your tax bill can rise year over year: 3% for an owner-occupied primary residence, and up to 8% for other property such as second homes, rentals, and commercial parcels.

Claiming the 3% cap after you buy

Only one property statewide may be claimed as your primary residence for the 3% cap, and Clark County uses a claim form to confirm your home is coded correctly. Because a recent sale can reset how a parcel is coded, new owners should verify the cap is applied after closing rather than assume it carries over automatically. This is a common, low-effort step that protects you from an unnecessarily large increase.

Real Property Transfer Tax at closing

Nevada charges a Real Property Transfer Tax (RPTT) when a deed is recorded (NRS Chapter 375). The base statewide rate is $1.95 per $500 of value. Clark County — which includes Las Vegas, Henderson, North Las Vegas, Boulder City, and Mesquite — adds $0.60, for a combined $2.55 per $500 of value, roughly 0.51% of price. Washoe and Churchill counties add $0.10; most rural counties charge only the base rate, so the RPTT on an identical price genuinely differs by county. Both the seller (grantor) and buyer (grantee) are jointly and severally liable for the tax under state law, but who actually pays is set by the contract; in the Las Vegas metro it is customarily the seller. NRS 375.090 lists the exemptions, including many transfers between close family members and certain trust transfers.

No state income tax — and what it means for your proceeds

Nevada's Constitution (Article 10, Section 1) prohibits a tax on personal income, so there is no state tax on wages or on the capital gain from selling a home. That is a real Nevada advantage, but it is not a blanket exemption, because the federal rules still apply. Most homeowners who owned and used the home as a main residence for at least two of the last five years can exclude up to $250,000 of gain — $500,000 for married couples filing jointly — under IRS Section 121 (Publication 523); gain above the exclusion is federally taxable. Nevada simply adds no state layer on top of the federal treatment.

Seller disclosure duties (NRS 113)

Nevada sellers of residential property must complete a Seller's Real Property Disclosure form, the content of which NRED adopts by regulation under NRS 113.120. The completed form must be served on the buyer at least 10 days before the property is conveyed (NRS 113.130). The seller — not the agent — fills it out, disclosing defects the seller is actually aware of in conditions and systems such as electrical, heating, cooling, plumbing, and sewer. A seller has no duty to disclose a defect they do not know about (NRS 113.140), but knowingly concealing a known defect can create liability. This state-specific form is not a substitute for a home inspection, which the buyer arranges separately.

Behind on payments: foreclosure and mediation

Most Nevada home loans are deeds of trust, so foreclosure is usually non-judicial (no lawsuit) under NRS 107.080: the lender records a Notice of Default and Election to Sell, a statutory period runs, and a Notice of Sale follows. For an owner-occupied residence, that notice must include information about the Foreclosure Mediation Program (NRS 107.086), now administered by Home Means Nevada, Inc. An eligible homeowner can elect mediation to meet with the lender before any sale occurs.

Separately, recording a Declaration of Homestead under NRS 115.010 protects up to $605,000 of equity from most general creditors — though not from a mortgage or deed of trust, property taxes, mechanic's liens, or child or spousal support. [Homestead amount current per NRS 115.010; a local reviewer should confirm no change took effect in the most recent legislative session before this figure is relied on.]

First-time buyer help: Nevada Housing Division

The Nevada Housing Division, a division of the state Department of Business and Industry, runs the Home Is Possible program family, which pairs a mortgage with down-payment assistance and, for some buyers, a Mortgage Credit Certificate. You do not have to be a first-time buyer for every product, but income limits, purchase-price limits, a minimum credit score, and a homebuyer-education requirement apply and are updated periodically. These programs work alongside the Nevada tax framework above, and Home Stimulus agent matching can connect you with a participating lender.

Local market hubs

Statutes are statewide, but prices, days-on-market, and inventory are intensely local — and this page deliberately publishes no median it cannot source. For current market data and neighborhood detail, see the Las Vegas metro hubs:

• Las Vegas
• Henderson
• North Las Vegas

Each city page carries sourced local figures and the same 1% listing, buyer-rebate, and cash-offer options described here.