Removing a Lock Box from the Sold Property ... Listing Agent's Liability?

Deepak:

What an unsafe situation.  Did you consider calling the agents broker?  The agent was acting irresponsibility.

Thanks for reminding me to add a Written Disclosure, advising Buyer / New Owner to immediately change the Locks.

How many times this has happened? The first post - and yes, it is featured!

Congratulations, Deepak - and keep up the great work.

Many agents do leave their lockboxes on the house. I have done the same thing after contacting the listing agent to remove box. Owner cuts it off and thows it in the trash.

Deepak - It's an interesting question.  I would expect there would be liability on both the listing agent and the buyer who should have changed the locks as he doesn't know who has copies of the keys.

Congratulations on a FEATURE!  It is a mystery to me why a listing agent would not take off the lock immediately,  I would guess they did have time to collect the closing check!

I think that it is the buyer's responsibility to change the locks, but I bet they could argue in court that the agent was liable if someone had gotten the key out and used it to get into the home. I always remind buyers that they'll need to change the locks once they move in, especially in the past couple years with all of the foreclosures & REOs around that are keyed the same.

Hi Deepak,

I deal in foreclosure properties. Finally I had to buy a bolt cutter so I could remove lock boxes from former listing agents who never took their box off.

One recently had the MLS keybox from 5 years ago. The homeowner who lost the home had the realtor keybox on the entire time they owned the home!

Phil

It think this would be a real easy case for any attorney. The word used would be NEGLIGENCE!

Deepak,

Unacceptable that you even encountered this!  I do hope the new owners are getting the locks rekeyed...

I have encountered this twice so far. One was a HUD home that had a 4 pin lockbox on it. I called the HUD and asked them about the box and they said they don't use them. The only thing I could figure out was a contractor must have placed the box there. The code was in the MLS and this was a couple of years ago before HUD started using boxes like now. I asked what I'm supposed to do with this box and was told..."Keep it, we don't want it!" Free box, cool.

The second incident was an REO and I couldn't reach the listing agent after it closed. Several tries and my buyer changed out the doorknob and pitched it.

It is the listing agents responsibility to remove all boxes and keys from the property.

I tell my buyers to have the locks changed the day the move in and I tell them how to get it done and who they might choose to help them.  It's weird how agents leave/forget about lock boxes and signs.  I guess once they get paid then the job is over.

Interesting, one would think that this is a given.  Those boxes aren't cheap.  

Deepak ... Combo lock boxes are a safety concern anyway, and they should be removed by listing agent immediately after close of escrow.

The best way to make sure buyers are secure in their homes is to get the entry door locks rekeyed or changed.

Deepak Chauhan MCNE®  i found this post from  Praful Thakkar   reblog  I see this is an old post  here is my response

It is common practice here that the buyer's agent will remove and bring the lock box to settlement/ closing  with the  keys as a curtesy when they do the final walk-through- also if you showed the property you has the compination would be a good idea to the listing office