Foreclosure in Temecula>Question Details

Keith, Home Buyer in Temecula, CA

WE negotiated a cash for keys deal. The home was emptied & cleaned a&was verified by agent, her

Asked by Keith, Temecula, CA Mon Aug 17, 2009

landscape man,& three neighbors. We were out before 7/1 (our date), w/ only a fire pit, umbrella, & a bee-infested fountain left outside to remove with the agents grace by 7/3. They then changed final date to 7/6 since it was 4th of July weekend & they live about 45 minutes away. The home was then broken into by teens for a party and heavily vandalized.We were required to make all repairs & clean-up the property & would finalize & get the check on 7/9, even though we were technically out weeks before. Neither agent showed up that day as I waited on the front porch. After leaving messages, a new date for closure was 7/12. Agent took the keys, but check was still on it's way. Then we were told they mailed the check to an affiliated office in our town for us . It is shown as recieved, but is now supposedly lost and lender won't reissue another one. We are now at 8/17 with no check and no legal closure. Evict/letter 8/13. Does that cancel out our CFK ? House is now for sale. Can they do

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Lisa and Goran Forss’ answer
Hi Keith. We list and sell bank repos here in Temecula for many of the largest lenders. We have not had this issue before, and we have done more than 200+ cash for keys deals. Let us know which lender you were working with, and we will try to help.
2 votes Thank Flag Link Sun Sep 19, 2010
I would definately recommend following up every day until they get that check to you. The agent shouldn't care about the check and you can also call the lender direct and register a complaint. The point is in this type of situation is not to sit back because no one will fight that fight for you.

You need to contact the agent, bank, office that lost the check and get someone there to poke into this for you. You can also call the Executive Response team at the bank that issued the check - they have required response times and it will be easy to see that you didn't receive the check. It will be fixed if you work on it.

Stefan
Web Reference: http://www.stefanwest.com
0 votes Thank Flag Link Fri Sep 3, 2010
Hi Keith,
I feel for you. But it is uncommon for the agent not to receive the CFK check in advance of the exchange. The reason it is handled this way is that you literally receive your funds when you surrender possession. At this point you may have no options available to you in regards to the funds other than to contact the lender explain your situation. Your strength is in the fact that you performed in accordance to a written agreement and they have not. Whether the fault of the agent or the bank, the bank is ultimately responsible to the terms of the contract. In fact suing the lender and the agent in small claims may be your best option if the lender will not reissue a replacement check.
0 votes Thank Flag Link Mon Aug 17, 2009
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