What is a common outcome when a property is sold due to foreclosure?

When a property is sold due to foreclosure, the proceeds from the sale are distributed to satisfy various claims against the property. One of the common outcomes is that laborers, including subcontractors and suppliers, have priority over other lien claimants and are typically paid first from the proceeds of the sale.

This priority is based on the principle of ensuring that those who have provided labor and materials for a construction project are compensated before other types of liens are paid. Laborers often have a higher claim on the property because their contributions are essential to the construction process and they may face significant financial difficulty if not compensated.

Understanding this process highlights the importance of timely payments and the implications of lien laws in Nevada, which ensure that laborers are protected in the event of a foreclosure.