Cash for Keys (CFK)

Real Estate Broker/Owner with CIDER Properties

As many might know, I specialize in selling foreclosures in the East Texas area (Tyler, Chandler, Lindale, Flint, Ben Wheeler).  I recently received a new REO (foreclosure) listing and had to determine occupancy status.

I visited property on a Saturday and felt like it was currently occupied but couldn't be 100% sure so I decided to go back during the week.  I revisited on a Monday and noticed that it was probably occupied so I knocked on the door and slid the envelope (with the Cash for Keys - CFK info) into the door.  As I was pulling out of the driveway, the homeowner came out so I got out of my door to introduce myself and explain what was in the the envelope and her options (eviction if CFK not accepted).  I also left my business card for homeowner to call me with any questions.

Fast forward to a few days later with no contact from homeowner so I decide to reach out to the previous listing agent.  Property was recently in the MLS as a short sale.  The listing agent, re-explained everything to homeowner.

Two weeks later, the homeowner is still in the home that is now owned by the bank.  I am trying not to be insensitive since it is so close to the holidays but I am having a hard time understanding why someone would not accept the CFK and use it for relocation assistance.  Is this homeowner in denial?

Comments (2)

Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Good morning Tanya,

Maybe there is no money coming in to find another place to live. It is a business and sentimental feelings have to be put aside.

Make yourself a great day.

Nov 20, 2014 08:43 PM
Tanya Redic
CIDER Properties - Tyler, TX
e-Pro, SFR

Raymond, that is the purpose of CFK.  A few thousand dollars to help the homeowner relocate and leave the property "broom swept" & avoid the eviction process.


Nov 20, 2014 09:12 PM