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Ron Escobar's Blog

By Ron Escobar, Broker | Agent in 90019

What is Cash for Keys?

What is Cash for Keys?

With so many homes in foreclosure, it’s possible that your landlord is losing their property to foreclosure and you may not know it, until it’s too late. When or if this happens to you, as a tenant, you’ll have just a few choices, which we’ll out line in a moment for how to proceed and protect yourself from losing the place you call home .As a top Los Angeles Realtor (R) I often negotiate cash for keys.

What happens when the bank forecloses or your landlord tries to short sale their property is a matter of process and law. While the tenant’s rights laws can be on your side, it’s possible that a  judge may rule against you or may rule for you. You won’t know which until you get there and make your case. In order to take your case before a judge you’ll need to hire a reputable attorney familiar with tenant’s rights to represent you in court, which can be expensive. You have to remember that there are two sides to every story and both landlords and tenants have rights and responsibilities.

Even though there are many laws that protect tenants from being forcibly removed from their homes, you may still have to move for no other reason than the new property owner wants to live in the property and is not going to rent it anymore.

When that happens, if you’ve hired and attorney, you won’t be able to recoup the money you spent on the lawyer and you may still be required to move via a judge’s order.  YIKES! In fact in dozensof cases in LA, judges sided with banks and theit top Los Angeles Realtor (R)

Moving is expensive, especially when you may not have had time to plan financially to save up for moving costs. These costs add up quickly with first month’s rent plus last month’s rent, any additional deposits that are required, plus movers.

Cash for Keys offers the best choice for the landlord and tenant when negotiated by a top Los Angeles Realtor (R). It allows you the opportunity to leave the apartment on your own terms, by turning in your keys and agreeing to a move-out fee, which can supply you with the necessary funds to move and get reestablished in a new building. Negotiating Cash for keys can makes a tough time that much easier to afford. 

Cash for Keys provides a graceful exit, during a tough time for you and your landlord.

Your choices:

1.       Sue, or fight the eviction and wait and risk getting nothing – Pay a lawyer to help you

2.       Negotiate for Cash for Keys – Keep control and help yourself

Click to link below to find out more about your rights in Los Angeles County.

Your tenant rights and the Eviction Process

Get the best that you can for you and your family, and understand that you can be happy in any house you are as long as you have what is important to you around you.

Ron Escobar, MBA

Real Estate Broker DRE Lic 01460645  ron@select-realestate.com

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