I had a Townhome in Kennesaw, Georgia that I had started marketing as a Short Sale. My clients were a nice family that had moved up into their dream home a few years ago. At the time of moving they had decided to rent the townhome. Meanwhile, the townhome community fell into a lot of foreclosures and the value of the townhomes dropped about 60,000. The renters decided to move out because of the up keep of the community. It turned into a situation where this hard working family could not afford to keep this townhome, and it would not sell for what was owed on the loan. We had the home on the market to see if there was a chance of selling for a full payoff. The home owners decided to drop the price of the townhome and try to approach the bank with a reduction payoff (short sale). We were in process of hopefully getting an offer but with the home being empty the owners did not pay the mortgage one month (30 days) and the bank changed the locks on the door before we had any chance of getting an offer on the home. Well, when the bank changed the lock on the front door they also removed my supra lockbox. Since my lockbox was hanging on the door knob the bank had legal right to remove my lockbox. My advice to you is: do not hang a valuable lockbox on your short sale listings.

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Comment by Patti Guilford on January 24, 2012 at 8:19pm

On shorts - use a $20 combo lock especially if the home is vacant.

Comment by Beau Katz on January 19, 2012 at 8:56pm

Sorry to hear about your lockbox. :( I've had mine taken off of an REO before. I have however found a place to buy them used for a lot cheaper than my association. I got my last couple from a place called LockBoxSwap. I googled "buy used lockbox" and they were one of the first that popped up.  All the used lock boxes have worked great and they ship to me for free each time.

Comment by Renee Sabath on September 16, 2010 at 2:26am
I don't think it's the bank. I think it is the overzealous winterizing company that do the vacancy checks. I was sitting an open house in a listing for another agent (short sale) and one of those companies came by and asked if they could go ahead and change one of the locks DURING MY OPEN HOUSE WHILE MY LENDER WAS TAKING A LOAN AP FOR A POTENTIAL BUYER WANTING TO WRITE AN OFFER! How's that for a deterrant to buy that house? They would not take no for an answer so I called the agent and then the boss of the fellow who barged into our open house and set up shop in the only way into the house, blocking the doorway. They told him to stop immediatly. I had asked him nicely to come back when were done, another hour and a half and he refused and just laughed at us. When his boss made him leave he turned all our signs backwards pointing in the opposite direction on the way out and sat laughing at us in his car as we packed up our turned around signs. Can't remember the name of the company though. I have never had a lock box removed or had anyone change the locks on me, luckily.
Comment by Antonette Solano CSSG, SFR on June 4, 2010 at 12:10am
they send outside companies to check for vacant homes..if the see it vacant they lock iy up & winterize if needed
Comment by Linda Suidan on June 3, 2010 at 11:55pm
So many Realtors and Real Estate Sales Representatives have not heard of the lock being changed prior to the foreclosure.. that is why I thought I would share this but it is amazing the things that I am seeing out there.. I am glad to find a nice website to share these things with.
Comment by Antonette Solano CSSG, SFR on June 3, 2010 at 11:50pm
They changed the lock on one of mine last month since they saw that the was vacant. I had trhe seller take it off and put his lock back :-)

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