Working with over 20 properties a month, doing cash for keys is sometimes a challenge getting a hold of the occupant. We've found the following process has helped us in managing our CFK offers.Upon getting a property, we first check MLS to see if there is an occupant's number is disclosed. We try calling the number on there immediately. If we reach a person, we give them our information and let them know there is a possibility for some help in moving costs. Usually they need to get back to us upon talking to a spouse, looking for an alternate location or talk to an attorney. We obtain any alternate phone numbers or occupants information at that time.If there is no number on the MLS, we next call PGE to find out if the utilities are on. PGE will give out the information without question. If it is on, it may mean the occupants are there but not positively. If it is off, it is more than likely they are gone but not 100%. We have had occupants stealing electricity from the neighboring home- AND growing marijuana in the house too!After checking the PGE, we will go to the property the same day usually within the couple hours of getting the listing and knock on the door. We look for signs of occupancy by knocking on the door first and if no answer check the mailboxes overflow, see if there are newspapers piled up, peek through the windows in the front, and look at the gas meter to see if there is any activity. Neighbors are always the best and nosiest so it's always a good way to ask them if they've seen anyone in or out of the house. If you feel it is safe, we go to the backyard, because many times the occupant does not pull the shades of their sliding glass door.If it's vacant great! If it's occupied, we have form letters that we leave at the door with our contact information. We also give our info to the neighbors to contact us if they notice the occupant is there and we can go at that time or the same time the next evening. We tend to try checking the property at diffent times of the day and week so that we may bump into them.The importance of doing CFKs? Many asset managers have a rating system for the number of CFKs completed so it's to your benefit to follow up with checking on occupancy and helps you get the property on the market more quickly!
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So I got assigned a pre-listing where I needed to verify occupany within 24 hrs. I arrive at the property and peeking into the windows I see no furniture, no personal belongings (couches were already outside) and I even asked the neighbors if anybody lived in the property. All indications that the property was left vacant. I slap my lockbox and order my rekey and confirm with the AM system that we're a go with the status. I make it a habit to leave the occupancy letter just incase. Low and behold I get a call the next morning from the owner of the house and he was inquiring about the letter! I explained to him that he no longer owns the property and the bank has hired me to sell the property. Naturally he insists that its still his property, the bank never sent any kind of warnings. I had to call off the remaining tasks and revert to a occupied status. The AM was not happy, and of course now I need to assist with the evict. Who has this happen to? I assume we can make these mistakes with all the assets we need to followup on. I'd like to hear some stories. Did you not know it was occupied and rekey a home? Did the AM give you negative scores for giving the wrong info? Inquiring minds want to know...
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