Replies to This Discussion

Permalink Reply by Lisa Allen, CDPE, SFR, CSSG on January 31, 2012 at 2:46pm

I just had this happen on one of my listings in Georgia...even when I told them not to. Fortunately, they broke the back door lock so the lockbox was still able to be used for the front door. They also put a lock on the inside of the garage door...I've not seen that before but now the new buyers will have to have it cut off.

Permalink Reply by Becky Flowers on January 31, 2012 at 3:06pm

I have had this happen as well not just with BofA but also Flagstar. My sign in the yard and lock box are on the door with my contact info. The last time this happened to me, the company that changed the locks stole an antique refrigerator from the house. So be VERY cautious everyone. The bank would not do anything to help us retrieve the belongings. I had to file a police report and I also contacted the investor on the file who never responded. I changed the locks and put a big sign up to contact me directly before they changed the locks again. I also contacted the field service representatives several times. The banks are sending these outside services out to check on properties, they leave a little sticky note on the door, garage, window and other places. If someone does not respond then they will go out and change the locks and winterize the property.

Also be aware depending on what is written in the loan documents if the property is deemed vacant or abandoned, the banks I have heard can push foreclosure up. 

Permalink Reply by Jill Eastman on February 1, 2012 at 9:20am

Joshua,

 

I have experienced this numerous times on my short sales and it drives me crazy because it takes time to call the bank, track down the right department and get the new lockbox code, etc.

 

I list a lot of rentals that the seller needs to do a short sale, I tell the bank (usually it's true) that the property management company is maintaining the property while it is vacant and usually they will not rekey the home. This works about 95% of the time with my short sales in San Diego, Orange, Riverside and San Bernardino Counties in California.

 

Jill Eastman

Broker

Magnus Realty Group, Inc.

Permalink Reply by Rozalyn Franklin on February 2, 2012 at 10:43am

The same thing happened to me with state housing, I asked if the property had been seized, because the owner was not in foreclosure. They apologize for their hast and advised that the owner still owned the property and had the lock box put back on.

Permalink Reply by Ken Crotts on February 14, 2012 at 3:31pm

I have had this happen numerous times, both with occupied and non-occupied properties. The solution is simple. I carry 36" bolt cutters in my truck and when I find they have changed the locks without contacting me and arranging for a key I cut theri box off and crush the box with the cutters until I can get the key. I then put the key in my box. I have only had 2 cases where my key box was taken so it is almost always there.

Be sure to get the largest bolt cutter available. If not the jaws won't open wide enough to crush the lock box. I must have cut off 15-20 boxes over the years. I am also finding the field services companies are getting much better at calling and making arrangements. I'm not taking the time to call unless they agree to reimburse my time.

Permalink Reply by Joshua Jarvis on February 14, 2012 at 3:35pm

Love this!  Where'd you get the cutters?  Homedepot?

Permalink Reply by Ken Crotts on February 14, 2012 at 3:55pm

McLendons. Home depot didn't have anything large enough to deal with the boxes. I've only found 1 box I couldn't open with my "master key" and it succumbed to a 4 lb hammer with 2 strikes. I have little patience for the field services preemptively removing my boxes.

Permalink Reply by Lisa Allen, CDPE, SFR, CSSG on February 14, 2012 at 4:31pm

I've had field service people change the locks and not leave a lockbox...nothing like getting out the drill.

Permalink Reply by Ken Crotts on February 14, 2012 at 4:37pm

It funny how they think nothing is going to happen if they change the locks. I always let them know, if the seller is still maintaining the property, that the property is not abandoned, they are trespassing if they attempt to enter, and that the seller may use all legal means to defend himself and the property against intruders.

Permalink Reply by Lisa Allen, CDPE, SFR, CSSG on February 14, 2012 at 4:48pm

I agree...I once had a field service rep enter a property that had closed 7 days prior while the new homeowner was making some repairs to the basement. The new owner threatened to have them arrested on the spot...the nerve!

Permalink Reply by Ginny Vickers on February 14, 2012 at 4:02pm

BOA foreclosure and Short sale depts don't communicate. I had Notices on the front door and garage every week. I would take them down and call them and had the homeowner call. They would say they wouldn't change the locks until they contacted me. We had to continue telling them each week because the Notices wouldl be back on saying the "property was vacant and they are changing the locks." Seems no one talks to anyone.