Cash for Keys (CFK)

By
Real Estate Broker/Owner with CIDER Properties
https://activerain.com/droplet/4rpv

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?

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Tags:
foreclosure
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tyler real estate foreclosures for sale

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Rainmaker
1,338,328
Raymond E. Camp
Howard Hanna Real Estate Services - 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 #1
Rainmaker
147,178
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 #2
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Rainmaker
147,178

Tanya Redic

e-Pro, SFR
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