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Old 07-01-2013, 09:56 AM
 
11 posts, read 28,973 times
Reputation: 17

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Anyone have much luck in negotiating a Cash for Keys offer?

The house we have been renting for the past four years was just foreclosed on. The REO agent that is handling the house gave me a cash for keys offer with a few options for a vacate dates. We are in the process of buying a house, so the first two dates were completely unrealistic. The third date I could more than likely meet, but in order to leave the property in turn-key condition, it would take some work & financial cost on my part due to the landlord storing things in the garage, boats out in the back yard etc.

Has anyone successfully negotiated for more a larger payment?

The time off from work, the hauling/ removal costs, more than likely paying someone to cut the grass, etc. wouldn't really make the lowest dollar amount offered for the 3rd date worth it to me. If it was a break even number, I'd rather just leave all of my landlord's stuff behind and move on with my life. If I could negotiate a higher offer, I'd like to take advantage of the offer & have the stuff removed.
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Old 07-01-2013, 10:57 AM
 
Location: The Triad (nc)
17,399 posts, read 22,980,760 times
Reputation: 14527
Quote:
Originally Posted by puddle_divr View Post
Anyone have much luck in negotiating a Cash for Keys offer?
The house we have been renting for the past four years was just foreclosed on.
How much time remains on your lease?
The longer it is... the more (only) leverage you have.
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Old 07-01-2013, 12:03 PM
 
3,777 posts, read 4,584,313 times
Reputation: 1823
Quote:
Originally Posted by puddle_divr View Post
Anyone have much luck in negotiating a Cash for Keys offer?

The house we have been renting for the past four years was just foreclosed on. The REO agent that is handling the house gave me a cash for keys offer with a few options for a vacate dates. We are in the process of buying a house, so the first two dates were completely unrealistic. The third date I could more than likely meet, but in order to leave the property in turn-key condition, it would take some work & financial cost on my part due to the landlord storing things in the garage, boats out in the back yard etc.

Has anyone successfully negotiated for more a larger payment?

The time off from work, the hauling/ removal costs, more than likely paying someone to cut the grass, etc. wouldn't really make the lowest dollar amount offered for the 3rd date worth it to me. If it was a break even number, I'd rather just leave all of my landlord's stuff behind and move on with my life. If I could negotiate a higher offer, I'd like to take advantage of the offer & have the stuff removed.
Why don't you just negotiate the cash for keys with that preparation excluded. It's crazy to expect you to move the landlords boat from your rental.
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Old 07-07-2013, 08:54 PM
 
2,064 posts, read 1,402,735 times
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Quote:
Originally Posted by jdm2008 View Post
Why don't you just negotiate the cash for keys with that preparation excluded. It's crazy to expect you to move the landlords boat from your rental.
I agree and would never guess it's your responsability at all...
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Old 07-08-2013, 06:12 AM
 
Location: Two years in Raleigh, NC
6,022 posts, read 5,616,300 times
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Quote:
Originally Posted by EngGirl View Post
I agree and would never guess it's your responsability at all...
I don't think he is saying it's his responsibility. I think he is trying to get paid by the bank for doing the cleanup.
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Old 07-08-2013, 09:53 AM
 
2,064 posts, read 1,402,735 times
Reputation: 1039
Quote:
Originally Posted by Jkgourmet View Post
I don't think he is saying it's his responsibility. I think he is trying to get paid by the bank for doing the cleanup.
cash for keys as I witness was more to keep property in the consition as it was when bank looked at it and not make it look worse by taking out kitchen cabinets and appliences, clogging toilets on purpose, making holes in the doors and walls... Cleaning up things like owner's boat from the backyard is not a part of this deal IMHO
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Old 07-08-2013, 12:36 PM
 
11 posts, read 28,973 times
Reputation: 17
The whole cash for keys idea is working out so far to be a win-win situation for everyone. I was able to negotiate an extra week & another $1000 to the offer.

The REO agent I am dealing with on this gave me a pretty generic idea of what needed to be done to the property to turn it over for the payment. He said it needed to be in "broom clean" condition with all "personal property removed inside & out". I just assumed that the boats stored in the back yard would be included in this. The boats aren't large & the house is lakefront, so I may just leave them there and see what happens. Worst case scenario, if he wants them removed & I will haul them to my new house & sell them on craigslist or something.

We are moving out on the 15th & I have set up the turn over date for the 20th. I do have to move a large saltwater reef aquarium that week, but other than that it should just be a matter of sweeping up after the movers and gathering up the keys.
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Old 07-08-2013, 12:46 PM
 
Location: Florida
11,195 posts, read 7,907,706 times
Reputation: 9138
How about clearing this up.....are the boats yours or your landlords??
To say you would sell them does make it seem like they are yours but in the op it sounds like the landlord has stuff in the garage and boats in the yard.
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Old 07-08-2013, 01:41 PM
 
11 posts, read 28,973 times
Reputation: 17
Quote:
Originally Posted by old_cold View Post
How about clearing this up.....are the boats yours or your landlords??
To say you would sell them does make it seem like they are yours but in the op it sounds like the landlord has stuff in the garage and boats in the yard.
The boats belong to the landlord, but were stored on the property for us to use on the lake. The tenants before us left them there when they moved out in lieu of their last rent payment. When I contacted the landlord after I was notified about the foreclosure, she told me she had no interest in them & that I could "sell them, take them with me, leave them there, donate them to the camp down the street...whatever". She has relocated to GA, and is not dealing with the house at this point at all.
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