So I’ve got a new listing. It’s not ready to go on the market yet. Many things need to occur from trustee sale (the foreclosure action in the state of Arizona) until actual marketing. The first thing I needed to do was inspect the property from the outside to verify its occupancy status. If the property is vacant, I arrange for the property to be secured by changing all the locks on the property. If it is still occupied, I need to approach the occupant. Sometimes it’s occupied by renters, and other times, it will be the owner. When I approach the occupant, we go over a “cash for keys” contract. Essentially, they agree to leave the premises in clean condition by a specified date. If they perform their end of the contract, they get the cash amount they were offered for leaving. In addition to offering cash for keys, we investigate how far behind the owner was on HOA and gather property tax information.
This is all so exciting, isn’t it! I imagine this is akin to the magician exposing the tricks of the trade. Anyway, my goal is to inform you, the consumer. Stay tuned for more information!
