Legal Question in Real Estate Law in Wisconsin

"Cash for Keys" Offer after a Foreclosure

I would highly recommend that you consult with an experienced bankruptcy or real estate lawyer in order to get your answer. Such an offer could come from anyone, however, such a person may or may not actually have the rights to possession of your home. The answer to this question may require analysis of a complex court file history by someone familiar with these procedures. Prior to confirmation of a sheriff's sale following foreclosure, the lender DOES NOT have an automatic right to possession of the property. The borrower therefore may have a right to continue to occupy the property rent free, or even to rent out the property and keep the rent for a limited term. Beware of scams in this situation--there are many unscrupulous "investor" types who attempt to cash in on the ignorance of owners, cheating them via means of questionable honesty. If, however, the person making the offer really does own your home, such an offer can be mutually beneficial to both you and the new owner.