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why don't these banks vet these companies? I am not sure why the banks even need these middlemen corporations. It just costs agents more money in the long run. Why is Broker Price Opinion even in business?
Colleen, I was told one time by Chase that the banks have to be "arms length" and that is why they have all these stupid third party companies!
Chase contributed to the demise of at least 1 BPO company. I forget which one but it stopped paying us while Chase owed them more than one million dollars.
Even the reputable companies are getting bad. Citi Financial ripped me off and never reimbursed me for some lawn care that was done prior to the property going into "REO" status. I had to bill it differently than I normally do. The property had two pit bulls on the property and squatters living in the home but the contact at Citi insisted that I get the lawn cut prior to it going into REO status. The contractor had to carry a fire arm when cutting the grass. I sent numerous invoices and the rep at Citi claimed that my W-9 was incorrect. I fixed it about 10 times. They never verified that it would be paid and the rep is apparently no longer there. This is going on a year. I now have another prelist where the property still has a squatter in it and I have had the roof tarped plus initial and recurring lawncare. No payment yet. I am getting ready to send Citi a letter in regards to this. I am out over $800 from the last property. This current one is about $500. The contact did state that Citi was behind in payments. I have sold dozens of properties for Citi but something is now going on with them.
I never pay for lawn or snow or anyother services, got stung once NeVER again. Bank wants the work done they need to contract it out
We have an investigation ongoing with both Eric Bates and Lindsay Day. If anyone has anymore information, please contact me at: firstname.lastname@example.org
I am occasionally running into this. waste my time..... Stonecrest has gotten really bad. Kondaur is also getting bad. I do free reports, occupancy checks. etc and get no other response. I don't like it. I am not sure what to think with companies like these. The free work is starting to get old.
Kondaur is the worst, just had a deal CASH with them asked to close Dec 27th, it is now Jan 2oth and still not closed, their attorneys are horrible, had to beg for the signed offer, girl said she misplaced it. I will never sell another one of their listings.
NOTHING IS FOR FREE, shame on you, make them pay or do not do them
Kondaur is the best. I don't have to spend a penny on market prep. So I don't have to apply for reimbursement. Reasonable commissions. Steady flow of listings. Usually take my pricing and rehab advice.
I too was contacted by them.. and I signed up and they want me to do a BPO and an occupancy check .. I have requested the refund back to me as of now. I have been speaking with Lindsay Day. and I have her phone number cell phone number direct. I just texted messaged her and it is 1:00 a.m. her time now.. She just responded back to me and said she would refund the money back to me. I will let everyone know after I deal with her tomorrow..
Did you ever get your money back from her? I'm dealing with the same situation with her now
Citi has collapsed their REO Dept and now only outsources, there is very little inventory. It is surprising as Citi was always great at reimbursing, I would contact the vendor manager to get your issues resolved. Good luck