Legal Question in Real Estate Law in California
How do I ask for money to leave my repossessed home? Like the cash for keys I have heard about. Please answer as soon as you can.
2 Answers from Attorneys
You have to contact whomever acquires the house at a foreclosure sale. If the bank took the property back, then you would contact them. If an investor, or someone else bought the property at foreclosure, then you need to speak with them. You should (at some point after the foreclosure sale) receive a Notice to Quit (i.e., leave the property) shortly after the sale. That will have contact information for someone affiliated with the new owner of the property. That is who you will want to contact to discuss a cash-for-keys offer. Understand that they are 100% voluntary on the lender's part, and that there is no guarantee that you will receive anything or any offer from them.
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There is no official form or way to ask. You just as whomever now owns the property if you can make an arrangement to save them the trouble of an eviction in exchange for some cash.
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