What is a key box? It is a device that holds a key as the name suggests. To access the key inside the box, a person has to input the correct combination in a button sequence. Once they do, it pops open and they can then use the key to access the entrance in question.
When selling a home, a key box is used to hold the key to a home for sale. It is usually attached to the front door or close to the area. When a buyer and their agent want to see the home and you can’t be there, you simply give them the combination over the phone. They can then view the home even though you are unavailable. When you get home, you simply change the combination for the box and are ready for the next buyer.
The advantage of the key box is obvious. The home can be seen by prospective buyers even though you are at work or unavailable. There is, however, a definite downside. You are going to be letting people into your home while you are not there. This raises the issue of theft. You don’t know anything about the people that want to see your home. They might be legitimate buyers and, then again, they may not.
In truth, thefts related to key box incidents are pretty rare. They do happen from time to time, but not often. You will ultimately have to make the decision regarding how comfortable you are with this approach. Before doing so, make sure to check your homeowners insurance policy for any exclusion related to key box related theft. Getting robbed is bad. Getting robbed and having your claim rejected is even worse.
Raynor James writes about issues surrounding FSBO properties for FSBOAmerica.org where you can list your home for sale by owner for free for 1 month.