Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

242
Posts
304
Votes
Ori Skloot
  • Investor
  • Berkeley, CA
304
Votes |
242
Posts

Help with feedback on letter to tenant (cash for keys)

Ori Skloot
  • Investor
  • Berkeley, CA
Posted

Hi Everyone,

I am in contract to purchase a SFD in Oakland.  This could be my first deal that came out of a direct mail campaign.  I have yet to see the inside of the house.  The seller is willing to pay cash-for-keys so that the tenant will vacate prior to close of escrow.  (NOTE: long story as to why we need to do cash-for-keys, but the seller is paying).   Below is the letter I want to send the tenant, any feedback for anything I'm missing?  Any conditions I should add to protect myself?  Thanks for any input.

Dear [Name],

I am following up on our conversations regarding you vacating [Property]. 

Per your request, we are prepared to offer you $1,000.00 to help with your transition under the following terms:

  • The property shall be completely vacated within 90 days of this signed agreement. To be vacant, the property must be empty of all personal belongings inside the house, the garage and anywhere else on the property.
  • All standard fixtures shall remain with the home, including: refrigerator, stove/oven, dishwasher, laundry washer and dryer, lighting fixtures, bathroom and kitchen hardware.
  • Upon execution of this agreement, [Name] shall allow Ori to do a preliminary walk-through inside the house and the property.
  • At 90 days, [NAME] and Ori shall do a walk-through of the property to confirm that it has been vacated and no damage has been done since the preliminary walk-through. If the property meets those conditions, [NAME] shall sign a “release of rights to possession” (see attached page) and Ori shall hand him a $1,000.00 cashier check.

Sincerely Yours,

Ori

  • Ori Skloot
  • Loading replies...