#247788 - 09/03/08 10:02 PM
Re: LAMCO bpos...
[Re: MadHatter]
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Member
Registered: 08/17/07
Posts: 296
Loc: Houston, TX
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I've never received a BPO from them that wasn't for a listing. And I've never received a listing that didn't get pulled for auction after I did all the pre-marketing work.
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#247798 - 09/03/08 10:32 PM
Re: LAMCO bpos...
[Re: MadHatter]
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Member
Registered: 08/17/07
Posts: 296
Loc: Houston, TX
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HB, how many times has that happened? They did that to me on the first one I got. Don't know about the second and third as I'm still babysitting them. I wasn't going to work for them again but then they sent me that email about servicing them instead of sending them all to auction. Did you get that? It happened to me twice. But it was before that e-mail came out. I haven't heard from them since that e-mail. My number should be coming up. 
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#247818 - 09/04/08 12:01 AM
Re: LAMCO bpos...
[Re: BrevardFLRealtor]
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Member
Registered: 03/21/07
Posts: 88
Loc: BPOville, USA
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all except one that i had for them went to auction -- they allow you to get bids and work done . . . allow you to get it trashed out and then they hand it over to Williams and Williams and let it sell for a fraction of its value -
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#247825 - 09/04/08 12:52 AM
Re: LAMCO bpos...
[Re: WorkWorkWork]
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REO Slave
Major Contributor
Registered: 02/04/06
Posts: 1694
Loc: USA
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I just had one that I babysat for 5 months waiting for the right of redemption to be up!!! I performed 3 BPOs, trashed out, rekeyed, initial/recurring lawn care and they pulled it for auction. They still owe me $$$ for several lawn care invoices too!
The thing that really PO'd me was that they sent me an e-mail that it was going to the listing department and that all they needed an updated BPO in order to list. I performed it and they pulled the property two days later! They had it rekeyed and a new lockbox installed.
It is obvious that they used me one last time to determine value knowing that it was going to auction.
I'm too busy to babysit properties for free, that I'll never get to list! This seems to be the normal MO for this company after reading the above experiences.
_________________________
"There are people who make things happen, there are people who watch things happen, and there are people who wonder what happened. To be successful, you need to be a person who makes things happen.." - James Lovell- Astronaut
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#247889 - 09/04/08 11:25 AM
Re: LAMCO bpos...
[Re: Ralph Nudi]
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Veteran Member
Registered: 01/31/07
Posts: 1079
Loc: The State Penitentiary
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and stl rockin realtor...awesome show...great job!
hahahhahaha
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#247905 - 09/04/08 12:42 PM
Re: LAMCO bpos...
[Re: King of Internet]
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Major Contributor
Registered: 02/08/05
Posts: 2772
Loc: Ohio
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I've had a few BPOs from them that didn't result in listings. I think they paid $65, but it wasn't recent, so I can't be 100% sure. I have had a few that I babysat for some time and then didn't get anything out of it. One was sold to a 3rd party at the sheriff's sale, one sold prior to sheriff's sale and one their client gave to another company. I did have one that I did all the work on and then it got sent to auction, but it didn't sell, so I got it back and sold it. I have a couple right now from them in pre-list. I find them easy to work with, but I would be ticked if I kept doing all the work and then they kept pulling them to sell at auction.
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#247935 - 09/04/08 04:20 PM
Re: LAMCO bpos...
[Re: OHAgent]
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Member
Registered: 11/15/06
Posts: 422
Loc: The Big Rock Candy Mountain
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I had one in 2007 listed at $97000 with an offer the first week at $90,000. They countered $95 and the buyer walked.
Within 2 months, the list was down to $79K, then they pulled it and sent it to auction.
I understand it sold at auction for $70K
_________________________
I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.
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