Nevada agency to review short-sale practices

The state will examine short sale practices in Nevada after concerns were raised by a Reno Gazette-Journal investigation published Sunday.

The Nevada Department of Business and Industry is forming a team to see whether dual agency — a practice in which the same agent or entity represents the seller and buyer in a sale — is being used to take advantage of distressed homeowners in order to reap higher profits, said Bruce Breslow, director of the department.

A Reno Gazette-Journal analysis of thousands of records from Washoe County and the Northern Nevada Regional Multiple Listing Service found that dual-agency short sales involving a prearranged cash buyer accounted for more than 10 percent of single-family home sales last year.


Rules for posting comments

Comments posted below are from readers. In no way do they represent the view of Stephens Media LLC or this newspaper. This is a public forum. Read our guidelines for posting. If you believe that a commenter has not followed these guidelines, please click the FLAG icon next to the comment.


Due to an increase in uncivil behavior and dialogue the Review-Journal has temporarily disabled the comment boards. The Review-Journal will use the time to evaluate the effectiveness of the comment boards and find an appropriate time to reintroduce them to reviewjournal.com.