Does anyone work with them and if so, what is going on with this asset company? They are pulling listings right and left turning them over to SPS. And does anyone have any info on SPS? I have one under contract with some serious issues trying to get to closing next week and GRP is out of the picture and I am trying to deal with SPS. The new SPS asset manager is non communicative. Sent emails, left messages and no response. Any idea what is going on?
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Has anyone had trouble getting reimbursed once the listings were transferred to SPS? I had a property transferred after the trash out was complete before it was listed. They owe me about $2500 that was submitted in November. I can't get SPS to give me a contact at GRP to check on the payment.
SPS sent me a check within 30 days on a Utility reimbursment. It was only $39 though. Did you send in the paperwork correctly? It has to be on the original GRP reimbursement form, along with a check copy, W-9 and invoice.
I had the same thing happen to one of my listings. The good thing is that SPS has been very communicative with me so I am grateful. OMG, that application of there's is awful. I pick it up, then put it down, then pick it up, then put it down. I WILL FINISH IT THOUGH. LOL.
Keep calling and emailing the AM, be sure to have the asset number and address in the subject.
As I understand it, and my info may be incorrect, SPS used to be known as Fairbanks Capital. If that is indeed the case, it should give everyone a heads up.
Same here. Our GRP asset manager said they sold all their REOs to SPS. We don't work for SPS but I was able to get put on their waiting list. Our was 3 weeks ago also and still not back no market.
Gail Jackson > Anton StetnerNovember 11, 2009 at 7:20am
Is GRP still going to be in the REO business? I started filling out the SPS app & it is a pain with all the info they want & I suspect at best to be put on a waiting list. My GRP listing is sold with all contingencies removed even appraisal. I can not get the asset manager to call me back about water in the basement & termite treatment. Have submitted bids & the contractor is ready to go. We are supposed to close on the 18th of Nov. What is up with this company? Does GRP still get a bite out of this listing or is SPS hoping that none of the contracts go thru? Very frustrating.
Anton Stetner > Gail JacksonNovember 13, 2009 at 4:21am
My understanding was all the under contracts were suppose to be closed as per the original contract. Keep fighting and I am sure you will get it to happen. All the REOs that are not under contract should be comming back on the market with SPS. And yeah I totally agree SPS has a really long crazy app. lol.
Yes, all deals from GRP will remain as long as they are under contract from what I understood. SPS is bad news, they take 33% fee off each closing....... However, as a Buyer Agent on an SPS asset, they usually pay 4%, so the total is around 7% which is great if you list and sell your own. This release of inventory happens quite often with many companies. Last year's end quarter, one company sent another over 750 files...so, gotta grin and bear it when it happens.....but my GRP asset was switched to SPS and I tried to keep it, but was told they reassigned it to another (unresponsive) REO Agent who is hell dealing with, and has yet to relist it for 3 weeks now while I told them I had contracts for it and he never even rekeyed it yet to date.....good luck
If you need the contact I dealt with at SPS let me know, I will PM it to you.....
Gail Jackson > Michele DeVitoNovember 11, 2009 at 7:23am
Hi Michele
I would greatly appreciate any contact you have at SPS. I have the asset managers name, email & now his phone number, but he is not replying to any of these. Any suggestions? Also, my listing calls for a full 6% with no referral fee. Maybe that is behind the silent treatment. No WHIM on the new asset managers side.
Replies
Keep calling and emailing the AM, be sure to have the asset number and address in the subject.
If you need the contact I dealt with at SPS let me know, I will PM it to you.....
I would greatly appreciate any contact you have at SPS. I have the asset managers name, email & now his phone number, but he is not replying to any of these. Any suggestions? Also, my listing calls for a full 6% with no referral fee. Maybe that is behind the silent treatment. No WHIM on the new asset managers side.