Can the tenet select the Realtor for "cash for keys" on their foreclosure?

Asked by Kpl, Katy, TX Tue May 8, 2012

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Richard Lueb…, Agent, Cypress, TX
Tue May 8, 2012
The bank will set up the cash for keys with one of their agents during the foreclosure process.
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Veronica Mul…, Agent, Katy, TX
Tue May 8, 2012
No, occupants of the foreclosed home cannot select the Realtor. Banks have their list of REO Realtors they work with.

Cash for keys is a way for homeowners in foreclosure -- or for tenants who are victims of foreclosure -- to receive cash in exchange for surrendering the keys and vacating. Banks generally reach an agreement with the occupants of a foreclosed home, which stipulates the home will be left in good condition and cleaned. The agreements typically set forth a specific date that the home will be left vacant. Do not try to extort the bank or the offer might be withdrawn. Be pleasant, courteous and reasonable.

This is a stressful time for all involved. It's important to be cooperative and solution oriented.
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Bruce Lynn, Agent, Coppell, TX
Tue May 8, 2012
The bank picks them, not the tenant.
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Gilbert Wash…, , Katy, TX
Tue May 8, 2012
The bank chooses the realtor from it's list of vendors. The realtor that will list the property once it becomes a foreclosure will more than likely be the one doing the cash for keys.
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