well chad, I am in washington as well, send me the address of the house you sold, and i will verify it for everyone on the board to see if it is true.

They contacted us back in September, and we completed one BPO for them. We have never heard back.

BTW, So far this year we have closed over 330 REO's. My team has been selling REO's for 10 years now. Occasionally we get new clients this way and sometimes we don't. Research on the web and give it a limited try.

Hi jdHarpe,
What do you have that indicates they are a company one should not do business with?
House just closed on 11/12/08
Address is 3037 Emerald crescent ct Camano island,wa. 98282
MLS#28173124

If anybody is contacted by Kondaur and doesnt want the business give them my phone number 425-418-7711
Thank you
Chad K

Well, I apologize, I did look up in the MLS and although he is a Junior Member, Chadk is a real agent in WA, and he listed and sold a property with Kondaur Capital as the owner, it closed 11/12 just like he said. (he previously had it listed as a short sale, so naturally they contacted him to do the BPO) Apparently they buy the non-performing note, then turn around and sell the property. He said they had him make repairs, and he was repaid promptly. Maybe I will give them a try. I will update the board with anything that comes about from them. I guess I am glad to be proven wrong on this one...

We work with this company and they are a very good company to work with. I've been doing RE for 8 years, 6 of which has been REO's. When this company first contacted me, they searched me out by another listing I had in the neighborhood of the one they wanted me to do a BPO on. My guy, Chris, I'll admit, sounded fishy...a free BPO for a company I never heard of. Well, I took a chance and I'm glad we did. This is a good, honest company. They pay well, unlike many others we all work with, they reimburse in a timely manner, unlike other companies we all work with and they are very nice, polite, helpful and respectable, unlike most of the companies we all work with!!!

Sometimes it's hard to take a chance on the unknowns but if your going to be in the REO business you'll have to work with a lot of unknowns, get use to it, it's the business we are in!

Life, including work, is all about taking chances.....take the chance people...the worst that can happen is you wasted a little bite of your time and the best that can happen is you found yourself a good business relationship!

Those of you who pass on taking a chance with this company have just passed on a good work relationship!

OK, I'll take a chance on them when they contact me.

Understand that the way this company works is they will ask you to do that "free bpo" and if all pans out and they get the property, you will be the listing agent. However, the time span between doing the free BPO and getting the listing could take several months. nature of the business. If they do not get the property then obviously you will not get the listing...again, nature of the business. Again, taking the chance.

When dealing with reo's, it's all a gamble!

They got my name off REO Network. I see they have two properties in my area that are listed with the same agent.

seasaw,where did you look up those listings/

My MLS. I did a name search and found they own two properties in my area.

Seasaw, i was contacted by them today and they requested couple CMAs.
Nothing fancy just some simple info on it so they can buy them.
Looks promising!

on the one they did in my area, they bought the note for 97k on a property that was financed up to 250k, they are really looking to get stellar deals on stuff they can turn for a quick buck, so dont expect there to be alot of listings.