Legal Question in Real Estate Law in California

cash for key's

the property where i have been renting for the past 6 mos is being repossessed by the bank. the broker is offering us cash for keys, and wants us to be out in 2 weeks. is there a normal amount we should recieve? any info you can supply would be greatley appreciated. Thank you.


Asked on 8/24/08, 9:29 pm

3 Answers from Attorneys

Robert F. Cohen Law Office of Robert F. Cohen

Re: cash for key's

The sooner you can get out, the more money you can ask for. Good luck!

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Answered on 8/24/08, 9:34 pm
David Gibbs The Gibbs Law Firm, APC

Re: cash for key's

There is no standard for determining how much they can or should pay you to leave. You will be evicted, so Mr. Cohen is correct that the sooner you leave, the more valuable it is to the bank. They will spend roughly $1,500 and perhaps (at the very longest) as long as a month evicting you, so work from that and see what you can negotiate.

*Due to the limitations of the LawGuru Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided is general and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence.

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Answered on 8/25/08, 12:04 pm
Judith Deming Deming & Associates

Re: cash for key's

No, as they owe you nothing. They are offering you money because they will have to go to court and evict you if you don't leave and it is cheaper and quicker if they do it this way. Please be aware however, that demanding more can backfire...I have had clients tell me that they would rather spend the money to evict than to capitulate to extortion.

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Answered on 8/25/08, 12:32 pm


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