One of the most unfortanate parts of this economy is tenants who are paying their rent and their landlords are not using the money to pay the mortgage on the property. The property then goes into foreclosure and soon after the tenants are served with eviction notices.
As a tenant you do have some rights, Each state as individual laws regarding tenant law and you should always check those laws for your rights. However in most cases the bank will seek to evict you eventually after the foreclosure.
Now this will also be the same type of procedure with owner occupied homes that have been foreclosed. The oocupants are usually offered and if not, should also ask for cash for keys or a relocation agreement to assist you with moving out of the house.
The bank then usually has their agent or managment company offer you a "cash for keys" or "relocation agreement" where you are offered a sum of money, anywhere from $500 to $2500 to move within 30 days and leave the property clean and free of damage. Sometimes they offer more depending on your location and teh value of the property.
If they do not offer it, simply ask for it!!!!
Either way, you can negotiate the time you have to move out and the amount of money they will pay you, so do not feel bad doing so.
I would never want to stay in a place that i would eventually have to leave, staying to fight causes more sleepless nights and stress so at some point you have to say "im moving on with my life, i a mputting this behind me and getting paid some money to be able move on."
Whether you are an agent, tenant or landlord, If you have an cash for keys comments or stories please post them here.
In the end... The choice of who a person hires as their agent sure does matter. The BEST way to go about any home sale or purchase, is to know you, the consumer should not just choose any agent. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. By using a philosophy, which is simple, to provide more personal and professional service to guide my clients through each step of the buying or selling process, I can help you find your dream home or sell your property. Your agent can stand behind you and assist with obstacles such as this.
To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .
About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 30 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties.
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