If you are a homeowner, whose home
has gone into foreclosure, you may
be fortunate
enough to receive a
'cash for keys' offer from your lender.
has gone into foreclosure, you may
be fortunate
enough to receive a'cash for keys' offer from your lender.
What the offer and your agreement means is that the bank will let you stay in the home for a few weeks, perhaps a month, if you will leave the home 'broom clean' when you leave.
On the agreed upon move-out date, after meeting with their representatives who inspect the house and confirm the clean house, you get a check.
When cleaning your home, remember to:
- Empty all closets, bathroom cabinets, kitchen cabinets.
- Clean out attic, garage, and under the house. These areas should be free from all debris.
- Clear under the kitchen and under the bathroom sinks.
- Leave the cabinets open so that they will be easily checked, and so you will see if anything is left and remove it.
- Totally clear the garage of all your stuff: debris, and old furniture.
- Many companies want curtains removed, although blinds stay.
- Leave the home just as you would want to find it if you were moving in.
- What would you expect a property to look like if you were moving in? Totally free of the previous occupant's belongings? Right? Yes.
The lender agrees to the 'cash for keys' offer so that they don't have to pay a field services company to 'trash out' the property after you leave. They are in effect paying you to leave it clean, instead of paying the company.
The guidelines to leave the property 'broom clean' are strict, and if you have any questions you should call your representative PRIOR to the agreed upon move out date, so as to not delay, OR MISS, receiving your check.
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