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.
General Landlording & Rental Properties
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 almost 3 years ago on . Most recent reply

User Stats

2
Posts
0
Votes
Roni Pidcock
  • Homeowner
  • 34655
0
Votes |
2
Posts

Advice regarding cash for keys-possible broker breach of contract

Roni Pidcock
  • Homeowner
  • 34655
Posted

If anyone is familiar with how a cash for keys contract works, please let me know.                                                                 My daughter rented a house for 3 years and her LL sold it to a broker. That broker decided after 2 months to give her and her family, 4 kids, one a baby, an eviction notice to pay 5200.00 dollars (they had no lease for this to be determined from) and vacate in 3 days or a  cash for keys offer to accept 1500.00 and leave in 10 days and they would wire the funds the day after they vacated.                                                                                                                                                                                                                                                                                                                                                     The original cash for keys contract was pre dated by the broker and had an invalid date (the year was 2002) that they were going to wire the funds. I advised that they have a new contract drawn up with a corrected date and no pre dated signature lines. They vacated the house on 5/11/2022 and have not received the funds as the contract stated they would. They left the house in better shape than it was in when they moved into it.                                                                                                                                                                                                                                                                     The brokers are going to be doing extensive work on this house inside and out so it's not a damage issue.  It is going to be a complete remodel. What rights do they have to get the money owed to them? They have been forced to live in a hotel until they can find a place to live. 

Loading replies...