• Personally..

       Its easy, the lender will give you specific instruction on what they want. Generally I will receive a cash 4 keys letter for the tenant/owner. I go knock on the door, if they're not home, I post it somewhere "quiet" so  as to reduce any public viewing and I left my card attached to it. I also write on my card that I can probably help make this event easier for them and to pls. contact me.

     Generally after that initial  attempt, I can make contact the next day. They KNOW your coming.. even if they're tenants... they just may need some help and they're waiting ,knowing you'll offer money eventually. Just be sensitive to the event and to their kids, do not leave a detailed message with any child. Not correct to stress out kids. Its not as difficult as you may think..... the lender has been sending communication to the property for months.

      If you are sincerely concerned about the situation, they will "get" that.... if you don't succeed, the sheriff will, and they're not at nice. this can be mentioned very loosely along with your understanding and desire to help them.... it will work out. OH YES,I don't go late at night( I wont go after dark).... always have someone with you waiting in the car....and, trust your gut. You will be fine.

    Hope this helps,Rose

  • Pat ,

    I see a wide varity of suggestions here besides the one I myself wrote. To add another note here, you should check with your broker and most importantly the state and local laws on eviction. Some of what has been suggested to you here is considered harassment and can really back fire on you and the client you represent. There is a big difference between overseeing a CFKs task and harassing a previous owner or occupant. No lender , no asset management company and no Broker wants to be a party to a possible law suite for improper eviction procedures. If you do some of these things suggested to you in these comments and the client gets a call from the occupant my bet is you will loose that client very quickly. Some of them are very likely to cause you legal issues as well.

    What ever you do not put yourself in any danger either physically or legally. Good luck

  • 1. I mail them a letter with the banks offer. I also give them a link to a Cash For Keys website to show this is not a scam. Some people do not understand why the bank would give them money to move out and with all the scam out there they get nervous.

    2. I give them my email contact info and show them my address is local. Most prefer to email instead of call

    3. One week later, with no contact I drive to the home and knock on the door. If no answer, which is 100% of the time I tape my follow up letter on the door I assume they use most.

    4. One week after than i send a certified letter with the same info as letter #1. I also state this will be my last attempt to contact them.

    If no contact after my third attempt I let my AM know and he proceeds with the eviction process. My time is to valuable to chase down people and offer CFK

    My success ratio is about 70%. The ones that I have a 0% success rate is renters. They know they can live there rent free for another 3-5 months and a check for $600 is not worth moving out and having to start to pay rent again. 

  • Pat, usually the lender has instructions for you to follow. That said, what I do is this: 1. I take a copy of the Lis Pendens with me at all times. Most properties have one. This is just in case the occupant claims to know nothing, and this will jog their memory. 2. If not home I leave a business card for them to call me. 3. I then start going EVERY DAY - sometimes in mid afternoon, but most of the time between 6 and 8 pam. I like to catch them when they get home from work!  Car in the drive. lights on in the house. DO NOT be afraid to knock and ring the bell for 10-15 minutes if you think they are in there. Eventually they come to the door. Rarely do I ever have a phone number for them, you got luck on that one.

  • Pat, My advice is to send an intro letter in a greeting card type envelope so it does not look official and more like a personal letter. Hand written letters are also not so official looking. I typically send something like this

    I have some money for you to help you during this difficult situation. I am a local Realtor and have helped many people in times just like this. The money I have is yours and if you are interested in making arrangements for me to be able to get it to you  call me at    (phone number) . This is enough to assist you in your  moving expenses and possibly more . I can also help you to be given more time in your home than you now have. If we can work together it will also prevent any of the eviction procedures normally done by the local Sheriffs. I am here to try and help you and will wait for your call.

    If you can ask the asset manager if they can also send a letter prior to you making any physical contact. The letters put the home owner in control. They call you and expect to meet you. This is so much safer and easier than going to their home unannonced and unexpected with the occupant being defensive, angery or even aggressive.

    In 17 years of doing Cash for keys, I have been violently attacked 3 times. All of them were happened by going to the home un announced and unexpected by the occupant. I learned to send the letter that I suggest here . This letter works well and  since I implemented it I have had only one issue. Occupants call me and set the time for me to come. Most call  right away because they want the money I mentioned in the letter and many want the additional time.   

    I strongly recommend you do not cold call on any occupant in the foreclosure or eviction process. Realtors and even Deputies have been killed by doing this. Many occupants are not violent but then it only takes one.  

  • I always go in person and been very successful with cash for keys, but if no one is home make sure leave your information tape to their door, this always works for me.  

  • I phone first as you never know if the person is going to be nice or nasty

    • Yeah, because then you know if you might need to be bringing your conceal carry, just in case.  :)

  • I have always gone in person. If no one is there ask neighbors if they have seen the homeowners.

    • I try a multi prong approach. 1) Certified letter 2) regular letter  and 3)  post a short please call  notice at house.

      With each of these I have a form explaining cash for keys and what to expect.  I usually have done as much research upfront before ie found if renter, owner, squatter.  Utility turn on dates so forth.  Squatters get very low offers, I had a disabled person last year that agreed to move but physically could not so the bank hired a mover and found him an apartment.  Bank paid movers and first months rent directly. I also know what each bank offers. And brace occupant so they won't expect the world. .  I have one major client that does not do CFK but will give the option to sign up to stay for 30 days if you agree to leave then also must be in perfect condition at vacate.  If you don't agree they play very hard and start eviction that day and will pursue criminal charges for damages.  They tell them that .  And yes they do it.  

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