Am I the only one seeing this more and more? This year, the new thing seems to be that final water bills from the previous borrower, must be paid by the Realtor?Then I have to submit for reimbursement, and my best hope is I get reimbursed in the next 90 days.The listing commission on this latest property is $975, and I just found out there is an unpaid water bill for $245.24, that I have to pay, submit for reimbursement, and hope I get my money in less than 90 days.I was told by my Asset Manager that New FNMA rules don't allow any expenses under $1000 to be on the settlement statement.I don't want to lose these listings, but this is getting ridiculous.
You need to be a member of REO Pro Network to add comments!
Are you kidding me? Whay company is that? I want to make sure I steer clear of them. That's ridiculous!
I guess you can upcharge the invoice to cover their $5 fee on each invoice...
I'm still uploading invoices copies and check copies. They have been pretty good about paying, but I have probably $3000 outstanding today.
In the scenario you just explained, I would certainly pass on those expenses to either the subcontractor, or the seller.
I usually charge $85 for a rekey, so for example, my expenses have increased $5, then the rekeys now cost $90.
I'm very tempted to notify my asset manager that because of unpaid outstanding invoices, I currently don't have the funds to pay the bill. I can't imagine they would allow the transaction not to close because of that. The problem is that I would probably not get anymore listings.
It all boils down to the Golden Rule. Those that have the Gold, make the Rules.
Replies
I guess you can upcharge the invoice to cover their $5 fee on each invoice...
In the scenario you just explained, I would certainly pass on those expenses to either the subcontractor, or the seller.
I usually charge $85 for a rekey, so for example, my expenses have increased $5, then the rekeys now cost $90.
I'm very tempted to notify my asset manager that because of unpaid outstanding invoices, I currently don't have the funds to pay the bill. I can't imagine they would allow the transaction not to close because of that. The problem is that I would probably not get anymore listings.
It all boils down to the Golden Rule. Those that have the Gold, make the Rules.
-
1
-
2
of 2 Next