Cash for keys

Unfortunately, one of my short sales just went into foreclosure.  The deck was stacked against us in many ways.

 

My homeowner heard that Wells Fargo only gives cash for keys if the property is tenant occupied.

 

Anyone have insight on this?

 

Thanks,

Brigitte

Views: 404

Replies to This Discussion

Permalink Reply by Melissa Colvard-McKinsey on February 16, 2011 at 10:26am
I list properties for Wells Fargo and they offer CFK to either tenant or borrower. Good luck to your homeowner! They are really clamping down on the timeframes for these short sales.
Permalink Reply by Melanie Ross on February 16, 2011 at 10:26am

Brigitte,

 

That is incorrect.  As a WF REO agent we offer CFKs to homeowners.  Now if it is tenant occupied than, yes, we offer to the tenant only, but if it is occupied by the previous homeowner, we offer them cash to move.  Hope that helps.  You can always call me too for more info. Melanie Ross

Permalink Reply by Jim Schneider on February 16, 2011 at 10:30am

One other item, Brigitte, sometimes there is some leeway as to how much, and the property will have to be broom clean.

2

Permalink Reply by John Treadwell on February 16, 2011 at 10:35am
Yeah I understand whoever is living in the house gets cash for keys

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