I was amazed at a story a high profile REO listing agent recently told. Most of us know that many banks will offer cash-for-keys to occupants (tenant or foreclosed homeowner) who depart voluntarily from a foreclosed property and leave the property in CLEAN AND EMPTY condition. Because this saves the bank from the expenses of cleaning up the property and saves them on marketing time also, it is worthwhile to the bank to pay from a few hundred to several thousand dollars for this cooperation from the exiting occupants. Recently, this listing agent made the offer to a family who had been foreclosed on and they agreed initially, but when time came to turn in the keys, their pride would not allow them to take the money. They left the property in spotless condition, cleaned and looking better than some properties already on the market, but refused to take the money. Given that some people are downright nasty about getting out and lash out at everyone in the proces because they are bitter at having their house taken, it really warms the heart to hear of someone acting with honor (even though you really WANT them to take the money).
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos
Morning Drick, Wow, this rerally is a different approach. That gesture says alot about the seller ! I guess, in the end, this couple would be the exact opposite of a couple doing a ' Strategic walkaway ".
May 17, 2011 04:18 AM
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate
Drick, it's so sad because they really need the money, I would guess. But they know that the bank will lose money because of the foreclosure and they are just doing the right thing. Leave. And leave it clean. Wow.
May 17, 2011 10:26 AM
Riverbend Realty, Cape Girardeau, MO - Cape Girardeau, MO
GRI, Cape Girardeau Real Estate
Drick~ I've never had that happen to ME when doing a CFK exchange. I have, however, had people move out and leave the house spotless before the foreclosure was complete--not often, but it does happen.
May 17, 2011 03:26 PM
951-290-8588 - Chino Hills, CA
RE/MAX Masters, Inland Empire Homes for Sale
People do really have the power to amaze, as this couple did. Kudos to them.
May 18, 2011 08:07 AM
NEPTUNE REALTY - Virginia Beach, VA
"RealtorDrick" - Experienced Representation
Connie, yes they are likely the most in need - it was really touching. Sandi, so true. Liz, yes it is rare - that's the only time I've heard of it, so I just had to share. Bill you nailed it. Thanks all for the comments.
May 18, 2011 11:13 AM
Austin, TX
Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management - Tracy, CA
Northern CA - Tracy & Mountain House Real Estate
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate
Drick, it's great to read about people like that who maintain their dignity even in tough times. They should have taken the money though, I'm sure they could use it.
May 19, 2011 02:27 AM
Fairway Independent Mortgage Inc. - Woodbridge, VA
Queen of Mortgages - FHA, VA, Conventional, USDA
I commend them for doing what they felt was honorable in the admist of a bad circumstance. I am kinda with you I would WANT them to take the money, although it can buy back in memories from their home at least it could ease the cost of moving and relocationg a family
May 19, 2011 02:55 AM
Rainmaker
631,337
631,337
Drick Ward Property Management / Broker Assoc
"RealtorDrick" - Experienced Representation
Service Areas
Real Estate Resources
Recent Posts
Real Estate Best Practices
4 months ago
Real Estate General Information
5 months ago
Home Selling
over 3 years ago
Realtor Drick on Facebook
Share
Comments (9)Subscribe to CommentsComment