America's Largest Social Network for Default Real Estate Professionals
They contacted me sometime back to do a valuation on a property and disappeared when I asked them "What's in it for me?". Now they are back, saying
This is a property you had looked at for us.
Great news we won the bid.
However this is not our usual REO it is a non performing note. I am including Erica in this email. She is assigned and will oversee the property until it is ready to be listed at which time she will transfer to me
We are hoping to avoid a costly and time consuming foreclosure. She is willing to work with old mortgagor's and extend a deed in lieu offer. Can you assist her please. I can’t seem to find the value info on this one.
Can you get that over to him, it has been a while may need to be updated.
Thank you again.
Needless to say I never did anything on this (well I did look up the property, I'm the curious type) & I get the feeling that they will let me do the leg work & toss me aside. So, does anybody know about this company?
We also got an email request to do a free BPO for them with a chance to get the REO listing assignment if they purchase the pool of properties. Did you ever get the listing? How was it working with them? Should we move forward with doing the free BPO? Any advice??
Thanks for anything you can provide to help us out.
I never did anything with them. From what I found through research they do not use REALTORs to list properties. They also didn't reply to me when I asked for more info on how the listing agreement would work. If you do work with them post your results.
THEY ARE A VERY GOOD COMPANY. THE ARE REIT'S. THEY DO USE REALTORS AND PAY 3% ON EACH SIDE.
Thanks for the feedback. Looks like I missed out on something, but I'll know in the future.
With the rural area I'm work in I have probably missed my one chance. I have had issues with trusting & getting burned in the REO/BPO biz. Perhaps I have become jaded. Live & learn
I have also worked with them in the past. They are legit. The free BPO's can turn into listings IF they win the bid for the pool of assets the property is included in. I have probably done 6 or 7 BPO's for them, and have had 2 listings with them. One of them sat forever, and was pulled. The other one sold.
They are good and when they do feel like they are getting to much work from you for free, they will send you a $50.00 gift card. They do not win every bid, that is why you may not get a listing. However, follow that address an see who did win the bid and you still could get that listing from another company that won the bid. That's how you make money my friends.
I am still waiting to get setup with this company; does anyone have a contact email they can provide so I can follow up? Thanks!