Cash For Keys

Asked by Heather Peck, Las Vegas, NV Mon Jun 27, 2011

Do Las Vegas agents know if the banks/asset managers are still offering cash for keys to either homeowners and/or tenants? This was very prevalent for a while, but I haven't heard much about it lately. I was recently asked by a client and didn't want to mislead them.

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5
Mark Fleysher, Agent, Las Vegas, NV
Fri Jul 1, 2011
Hello Heather,

I have seen this twice in the last 30 days, so it is still happening...

One thing we've done as a property management company to prevent this: we screen all of our clients properties in Clark County's records, to watch for properties being foreclosed or liened on...

Recently, my client had made an offer on a short sale, and the tenant notified us they received a cash for keys letter and showed it to us... and the second, we had a tenant come in and show us the letter...

So, Yes, it does still happen.

Cheers.

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0 votes
David Cooper, Agent, Los Angeles, CA
Tue Jun 28, 2011
There is no set policy by the banks and each case is different. Anyone thinking that they will wait the banks out until they negotiate for cash to move are really gambling

DAVID COOPER Foreclosure Specialist with 35 Investing Experience. For a Free List of Bargain Homes, see website or call +1-702-355-8807
0 votes
Helene Moore, Agent, Henderson, NV
Tue Jun 28, 2011
Yes Heather if they do not offer this ASK AWAY. I have received $2300.00 for one of my clients.
Helene M Moore
0 votes
Dawn Barrier, Agent, Las Vegas, NV
Mon Jun 27, 2011
Yes, it still happens, but each case is different
Web Reference:  http://www.VegasDawn.com
0 votes
Renee Burrows, Agent, Las Vegas, NV
Mon Jun 27, 2011
I don't list REO but had a friend go into foreclosure in the last month and they were offered C4K
0 votes
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