How to Find the Best Deals at Reno Property Auctions: A Complete Guide

Property auctions in Reno, NV, offer incredible opportunities to buy homes, investment properties, and land at significantly discounted prices. However, navigating these auctions requires strategy and knowledge to secure the best deals. Whether you're a first-time buyer or an experienced investor, this guide will help you identify and win the most lucrative auction properties in Reno.

Why Reno Property Auctions Are a Goldmine for Buyers

Reno’s real estate market has been growing steadily, but auctions remain one of the best ways to purchase properties below market value. Here’s why:

✅ Steep Discounts – Auction properties often sell for 20-50% less than traditional listings.

✅ Fast Transactions – Unlike conventional sales, auctions close quickly (often in 30 days or less).

✅ Diverse Inventory – You can find foreclosures, bank-owned homes, tax liens, and government-seized properties.

✅ Less Competition – Fewer buyers bid at auctions compared to MLS listings.

However, not all auction deals are equal. Knowing where to look and how to bid strategically is key.

Types of Property Auctions in Reno

1. Foreclosure Auctions (Trustee Sales)

• Held when homeowners default on mortgages.

• Conducted at the Washoe County Courthouse or online.

• Cash-only purchases with immediate payment required.

2. Bank-Owned (REO) Auctions

• If a foreclosure auction doesn’t sell, the bank repossesses it and lists it on auction sites like Auction.com or Hubzu.

• More flexible financing options (some allow mortgages).

3. Tax Lien & Tax Deed Auctions

• Properties seized for unpaid taxes.

• Nevada primarily uses tax lien sales (investors buy the lien, not the property).

• Held annually by Washoe County.

4. Government & Police Auctions

• Includes HUD homes, VA foreclosures, and seized properties from law enforcement.

• Often listed on GSA Auctions or Local Sheriff’s sales.

Where to Find the Best Auction Deals in Reno

1. County Courthouse Trustee Sales

• Primary source for foreclosure auctions.

• Check the Washoe County Recorder’s Office for upcoming sales.

2. Online Auction Platforms

• Auction.com – Major hub for bank-owned and foreclosure auctions.

• RealtyTrac – Tracks foreclosure listings nationwide.

• Hubzu – Specializes in REO and distressed properties.

3. Local Real Estate Agents

• Some agents, like Jonathan Wornardt - eXp Realty, LLC, specialize in auction properties and can provide exclusive leads.

4. Tax Lien Sales (Washoe County Treasurer’s Office)

• Held annually; investors bid on liens for high-interest returns.

How to Spot the Best Deals (and Avoid Scams)

✅ Red Flags of a Bad Auction Deal

• No title search available → Could have hidden liens.

• Severe structural damage → Unseen repair costs.

• Occupied properties → Risk of squatters or lengthy evictions.

✅ Green Flags of a Great Deal

• Clear title history (minimal liens).

• Recent comparable sales (confirming undervaluation).

• Vacant or easily marketable (quick resale potential).

Bidding Strategies to Win the Best Deals

1. Set a Strict Budget

• Auctions move fast; overbidding is common.

• Factor in repair costs, back taxes, and legal fees.

2. Attend a Few Auctions First (Without Bidding)

• Observe bidding patterns and competition.

3. Bid Aggressively Early (Then Hold Back)

• Early bids discourage casual buyers.

• Avoid last-minute bidding wars.

4. Consider “Passive” Auction Strategies

• Buy post-auction REOs (less competition).

• Target tax lien certificates for safer returns.

Final Tips for Auction Success

✔ Get pre-approved for cash financing (hard money lenders or private capital).

✔ Work with an auction-savvy agent (like Jonathan Wornardt - eXp Realty, LLC).

✔ Run a title search before bidding (avoid surprise liens).

✔ Inspect the property externally (if internal inspections aren’t allowed).

Conclusion: Are Reno Property Auctions Worth It?

For investors and cash-ready buyers, Reno property auctions offer unbeatable deals—if you know how to play the game. By researching listings, setting a budget, and bidding strategically, you can secure properties at a fraction of their market value.

Need expert help navigating Reno’s auction market? Contact Jonathan Wornardt - eXp Realty, LLC for professional guidance on finding and winning the best auction deals.