Cash for Keys

Cash For Key's Program

The cash for keys program has been around for many years but kept quiet by the banks until the sub-prime mortgage meltdown in 2007 forced many banks to initiate the cash for keys policy as standard procedure.

Two big problems banks face when taking a home in a foreclosure or short sale are, the condition of the home after it's occupants vacate, and getting the occupants to leave in a timely manner after the home sells. By giving cash for keys the homeowners are more likely to vacate in a timely manor and leave the property in better condition. By offering this incentive it encourages homeowners to do a short sale which ends up benefiting the bank as well as the homeowners.

The amount of cash the bank gives varies. However, It's usually between $2,500 and $3,500 but the average cash for keys is $2,500. I realize in the grand scheme of things that $2,500 bucks is not that much especially since just a few year ago your home was worth so much more.

A few things to keep in mind:

• By doing a short sale the bank cannot go after you on a 1st mortgage (federal law)
• If you qualify for HAFA the bank cannot go after you on a 2nd mortgage
• Short Sale = $2,500. Foreclosure = a big fat ZERO!!
• With a Foreclosure the bank can go after you for the entire amount owed

As you can see the cash for keys program and doing a Short Sale is a much better option then a Foreclosure.

For more information -- contact me!!

Courtesy of 
Terry Bear

The Bear Team of Performance Realty
Broker/Owner/ABR
14 Brian Ct, - Watertown, WI 53094

Office: 920-261-2327
Fax: 920-262-2327
Mobile:(920) 285-5840

http://www.performancerealtycompany.com
http://terrybearteamofperformancerealty.blogspot.com
http://twitter.com/#!/TerryBearTeam
http://www.linkedin.com/pub/terry-bear/29/71a/963
http://activerain.com/blogs/terrybear
http://www.google.com/profiles/terryabear

MLS SEARCH -
http://www.performancerealtycompany.com/Community newspaper: http://www.wdtimes.com/
Watertown Chamber of Commerce:
http://www.watertownchamber.com/Watertown Schools: http://www.watertown.k12.wi.us/

The 10 Most Important, Cost-Effective, Easy Fixes When Selling Your Home !

1. Master bedrooms and baths should appeal to both sexes - if yours is gender specific, balance it with some masculine/ feminine accessories - pillows, art, greenery, a well placed throw and use neutral bedding - your grandmother's homemade quilt isn't going to cut it!  

2.  Walk through each room as if you were a buyer  - can you move freely about? If not, open up the space by eliminating excess furniture to create easy traffic flow. when selling - less is always more!

3. If possible rent a small local storage space to put excess furniture, personal items, knickknacks - anything that clutters the home and causes distractions - after all, you're selling your home, not your lifestyle. (This also eliminates a lot of stress down the road when the buyer is ready to move.)

4. Assess the color palate of your home --make sure it's uniform throughout and stick to neutral or modern colors - this creates continuity. Add pops of color using accessories like pillows, art and a throw.

 5. Think upscale hotels - clutter free, updated and designed to appeal to the masses. If you have dated  boarders or wall paper take it down - this is one of the biggest turnoff to buyers and they often move on. (I've heard of homes for sale labeled as the "wallpaper" home and it's not a compliment! 

6. Don't assume buyers won't look in cabinets, closets, basements and attics. 

Storage is key for buyers and they want to see if the home has enough space to accommodate their stuff. Organize, or better yet store it- this demonstrates to buyers that indeed their things will fit and is a big selling advantage.

7. Clean, Clean, clean - It's the easiest, no cost, effective fix and this can't be emphasized enough - nothing turns a buyer off more than a messy, dirty or smelly home - this will send buyers running for the door - trust me on this one!

8. Open all blinds, eliminate heavy window treatments and let the natural light shine in - this cheers up and brightens the home, making it feel airy and more spacious - and, it's so easy! If you have dated vertical blinds, it best to take them down

9. Fix leaky faucets, broken screens, door hinges, door bells or running toilets - Yes, I'm going to beat a dead horse, but these are big turnoffs and don't invoke any confidence in the buyer that your home is well taken care of - you know the kind of homes we all want to buy!


10. Make sure your MLS photos are GREAT - 80% of buyers shop online before ever stepping out the door with their Realtor!

Okay, so I lied,  #11 - drum roll please... 

My list wouldn't be complete without strongly suggesting hiring a professional stager who is trained to prepare your home for the market, using proven techniques to enhance, highlight and showcase your home it its best possible light and appeal to the most buyers! 

Home and Curb Appeal LLC-  Lisa Bear  - (262)893-5555

When you're looking to sell quickly and for top dollar,  Home and Curb Appeal LLC - Lisa Bear knows how to get the job done right. We will use proven techniques to create warm, inviting, updated spaces that will appeal to the masses. In today's competitive market, every home can use an edge and that's what  Home and Curb Appeal is all about.

Courtesy of 
Terry Bear

The Bear Team of Performance Realty
Broker/Owner/ABR
14 Brian Ct, - Watertown, WI 53094

Office: 920-261-2327
Fax: 920-262-2327
Mobile:(920) 285-5840

http://www.performancerealtycompany.com
http://terrybearteamofperformancerealty.blogspot.com
http://twitter.com/#!/TerryBearTeam
http://www.linkedin.com/pub/terry-bear/29/71a/963
http://activerain.com/blogs/terrybear
http://www.google.com/profiles/terryabear

MLS SEARCH -
http://www.performancerealtycompany.com/Community newspaper: http://www.wdtimes.com/
Watertown Chamber of Commerce:
http://www.watertownchamber.com/Watertown Schools: http://www.watertown.k12.wi.us/