Stage 4 of 4 · The Sale and What Follows

Cash for Keys

A payment offered to an occupant to leave voluntarily and in good condition, instead of being evicted.

In plain English
After the sale the new owner still has to get the occupants out. Paying them a few thousand dollars to move by an agreed date is usually cheaper and faster than an eviction.
Example
A servicer offers three thousand dollars for the keys, a clean house and a signed release within thirty days.
Why it matters
Eviction costs money and months and tends to produce a damaged property, so this is the practical alternative for both sides.
Remember it as
Cheaper to pay than to evict.

Where it lands in the timeline

An emptied living room at dusk, pale rectangles on the wall where frames once hung, one lamp glowing on a small side table and a few taped boxes by the door, Temecula CA.

Stage 4: The Sale and What Follows

The gavel falls in minutes, but the money, the move and even the tax bill keep arriving long after, so this phase covers what the sale leaves behind.

Every term in the Foreclosure Glossary →

Learning the words is step one. Beating the date is step two.

A cash sale can often close before the sale date on the notice arrives. Tell us about the house and get a no obligation offer within 24 hours.

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