I have been (and still am) waiting months for reimbursement from PASREO. I have received ZERO dollars. I thought they were one of the good ones. Not! And this stupid class? I can't believe they want me to give them $400 when they still owe me thousands. I've tried to get asset managers to help me. No luck. I've resubmitted everything more times than anyone would believe. No luck. I've sent emails to that stupid general accounts payable address. No luck. No one will put me in contact with a person in the AP department. What a nightmare! What should I do?

Anyone?

ever read the book "How to ruin your career in 15 minutes or less"?

The last few months I have had the same problem and PAS was my most favorite co.Now that they have it so you can upload the invoices it's even worse! I have contractors that refuse to work for them anymore and anything more than $500 we are not suppose to pay,they are suppose to pay them direct and don't! The utility co's here will not put gas,electric in Pas's name and try to get reimbursed for utilities!

THE BEST ADVICE I COULD EVER GIVE YOU...

PAS is a Great company to work with, They could be worth $20,000-$40,000 a year to you if you do a Good job for them...

The biggest difference between REO Agents & Resale Agents is that we are capable of floating Invoices for REO Companies for periods at a Time...

BE PATIENT...

or as FOSQBJ stated, you can ruin your REO Career (Most AM know tons of other AM from different Companies, bad news spread Fast)

I agree ChrisWorksHard, Pasreo is a great company to work for; however, there is no excuse for floating invoices for 4 or 5 months (which some of mine are). The contractors are the ones I'm mostly concerned about, they have refused to do bids.

It would probably make a difference if Pasreo would price their properties to sell, but they don't! So if you're managing 22 properties and each costing about $1,500 at the beginning, it adds up, especially here in California where properties are sitting for months.

I've been an REO listing broker for years and have never had to wait six months for reimbursements (I suspect it will pushing a year when/if I get my money). I am not "ruining my REO career" by asking when I will be paid what I am owed or expecting to be paid what I am owed or asking other agents and brokers if they have the same issue with this company. Erskine748 and Relady4u - I too have the same vendor issues. Both my best remodeling contractor and field service company have indicated that they will not work on a PASREO property unless I pay them directly. That puts me in an impossible position since we CANNOT pay invoices over a certain amount but MUST submit them to PAS for payment directly to the vendor. And yes, most of the properties I have through PAS are overpriced. By the way, I never contacted PAS; they contacted me to be a listing broker in this area. The facts remain the same: they owe the money and it does not take months to generate a check.

I spend every Sun. just doing invoices.Last Sun.I spent trying to follow up on unpaid invoices for myself and my contractors.Before the "portal" we could e-mail accounts payable and would usually receive a response within a day or two.Now I'm lucky to receive a response within a week. Let's see since last Sun.nothing. Asset mgr wants bids for mold but one of my best mold contractor that would quickly go to a property will not go because they haven't paid him for the last one and it's been submitted 3 times! Oh and their "policies & procedures", confirmation period, don't do anything. Turn on utilities,don't turn on utilities. Don't get me wrong, I have been doing this a long time and know how to kiss a...However this is my money they are playing with and some of these properties have closed.

i received an email from firstamreo saying they were taking over disposition (outsource deal) from indy which is okay with me either way, but has anybody heard if indy is outsourcing some or all of their reo? Thanks

Been working with PAS for a couple years and up until the new system they paid like clockwork - I'd have a check right at 30 days from the day I mailed the reimbursement request. I emailed AP last week about reimbursement requests submitted on 4-23 and they responded the next day with:
"We are processing invoices on a 30 business day time frame. If the allotted time has passed, please resubmit online."
The 30 business days stands out - that'll bump things back a bit.
Not sure what to say to you guys that have been having ongoing problems except I hope the issues delaying your re-payment are resolved soon. Floating all that money then having to chase after it for months can wear you out.

Bumping this up. Has anyone been paid? I'm starting to get worried; I have six properties with PAS and I haven't been paid for ANYTHING in months. The last time they had to pay a contractor direct, it took over 60 days and that company was really upset.

Hmmm, maybe that's what the $399 for the training is paying for...didn't they just extend that to July 15th or somehthing.

OH REO,

I haven't been paid for a few months either and I now have 7 in pre list that needs rekeying and I am going to forward the locksmith bills directly.

After numerous emails, I haven't had a response from AP. On monday, I'll try the vendor client services department.

They did send me two interior BPO's at $100 each, it helps if they pay!

I followed up on Fri to accounts payable with many I have not been reimbursed for.Some of the invoices have been submitted 3 times.Some of the properties closed a couple months ago.They told me to resubmit AGAIN by fax to "Steve".No mention of uploading again to the portal.Tomorrow I am going in early to my office and go through all my invoices with PAS and the ones that have not been paid will be resubmitted every day until I get a ck.

Erskine748, I noticed that in my que the invoices no longer show. No status or anything! Have your invoices disappeared?

I checked each individual property and those I just posted says 'pending review'. The others from a few months ago aren't even listed!

I probably wouldn't feel so bad if some of them sold and closed. I've had one, so far, about 3 months ago out of about 14!