904-757-4500

 

The Jacksonville Movers Explain Cash for Keys

These days there's a lot of positive news surrounding real estate and investors are reacting by swooping in and buying properties. However, many of these investors are wanting the tenants to get out because they're interested in fixing up the buildings and want their properties to be empty so they attract new buyers. So many realtors are now offering these renters cash to get out before their lease is up also known as cash for keys. The local Jacksonville moving specialists learned this practice isn't governed by any rules or financial guidelines. In the first four months of the year, foreclosures represented 26% of all home sales across America. Renters occupy about 40% of all residential foreclosure properties, so this cash for key practice can have serious effects.

Even though there are laws to protect renters such as the 2009 Protecting Tenants at Foreclosure Act, investors and realtors aren't going out of their way to educate renters about them. This cash for keys practice is always seen as a great program to help tenants out. The reality, the All My Sons of Jacksonville moving team learned, is that tenants nationwide have a right to stay in a foreclosed property for the duration of their lease or at lease three months, whichever is longer. The only exception to this rule is if the new owner plans to live if the unit, in which case the current renter still has 90 days. If you're a renter that's in a position of being evicted, ask your landlord, investor or realtor to put it all in writing. This would encourage them to think twice about the verbal claims they make that are invalid. If you take the cash and decide to evict, make sure you get that in writing too and get the bank to sign your copy. Remember that the cash for keys payment you get should be on top of the deposit you should get back.

If you're stuck having to evict fast due to accepting a cash for keys offer, make sure you call the local Jacksonville movers for a professional move. All My Sons of Jacksonville is backed by four generations of movers, and is part fo the All My Sons Moving and Storage network that includes moving offices in Atlanta, Raleigh, Salt Lake City, San Antonio, Maryland and many more.