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I have done 3 assignments for them within the past couple of months. It is essentially a search and delivery service - kind of like an occupancy check. A lender is looking for the owner of a property. You are generally requested to go to a property up to 3 times to find the owner at home or confirm with a neighbor who lives there. You are instructed to leave a letter in a sealed envelop taped to the door, take photos, and fill out a visit form which includes an estimated value of the property without any documentation. Pay is negotiated for each assignment. First one I did, I told them it was probably going to be a rental because the tax mailing address was elsewhere, but they insisted I do all 3 checks. Got $20 per visit and the check came fast. Second one was essentially the same but farther out. We negotiated a one time visit for $30. Third was the same as the second and I reminded them I had already done it but they wanted me to do it anyway. It only took one visit bcause I caught the tenant home. Seems, though, that Sand Castle got mixed up. I think I only got paid for the third but not the second but have to check my books.
no but I haven't pursued it so they don't really know about the situation. that said, however, I continue to get their whole list of requests but there is never any location on the list in my area and I've not had any other chance to work with them again.
Here is an email I recently received:
We found you listed on the REO Network website. We have a field visit/letter delivery available in Morrisville, MO 65710. It is a one-time attempt and if the customer is not home, the letter can be left taped to the door or with a 3rdparty. The letter is from the customer's bank asking them to call in regarding their automobile loan. A photo of the home as well as the collateral vehicle (if present and the customer allows) is required. We typically pay between $15 and $30 for these (depending on the distance for you) and need completed in the next 2 days. Let me know if you can do and what your fee would be.
Why would I be willing to do that and possible infuriate someone in this day and age who could shoot me if they like?
Not sure why I got this, but will not do anything like that. Mine seemed like they were trying to repossess a car? I'm not a bank nor process server or bill collector. I just thought it was strange.
I worked with them for about a year. Turned out to be a real pain. They don't do BPO or any other real estate work it's simply a chase company for defaulted auto, motorcycle and other such loans. They do pay but in the end unless you are in the area for something else it's not worth it.
Thanks Bob, I'm not going to chase after people that may be infuriated by me coming by for a car loan. Not interested. Appreciate your comment.
You don't have to talk to them or interact in any way. They want you to leave a letter at the property and take photos of the place. The property is usually the last know address of the person. Never had any type of altercation with anyone they just didn't pay enough to bother unless I had other orders in the area.
I declined and they sent me another request for it. It's too little money for driving over 30 miles one way and 30 back, plus the gas and time. I'm not working for minimum wage. Wonder why they don't have some other type of service? Why real estate agents? Oh well, thanks for the input.
They called me and asked if I was interested in their short sale system, I said sure, I took their FDCPA course
and the first property the occupants were not the owner and they believed the persons I was looking for were the prior owners. no short sale there!. the next 5 were all credit lines or vehicle loans. Most of the time nobody is home. I have not heard from them for a couple weeks now, that may be because I would not go back a second time or even a third time. They did send a check within 30 days. I'm going to give them a little more time.
We have done a couple of BPOs recently for Sand Castle and payment was very prompt.
RTC REO Team
Mill Creek, WA
I do BPO work for them and occasionally a field inspection or a chase visit. Super easy to work with, very helpful and prompt payments. You can negotiate the fees.