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HomeStar Property Solutions

28K views 43 replies 21 participants last post by  Nightowl 
#1 ·
Used to be called Energy REO Solutions. Got the call and the app from them today.

Anyone got any other info about them?
 
#6 ·
They sent a sample pricing...they said sample....at the bottome of the price schedule was this statement.
Failed QC $100 fine....
I inquired about this and this is what we received for them.....

I apologize for being absent - I have been buried in emails and have been in and out of the office over the past few weeks.

As I told you before, the price list I gave you is not approved and was just meant to be given to you as a reference for task pricing. We may or may not implement a penalty program for late work orders - that has not been decided and I ensure you it would not be hidden to our contractors if it were.



Our QC program is also being redeveloped and is in no stage to be shared with our vendors. Once we have the price list and QC guidelines approved, we will be more than happy to share it with you. Unfortunately, we cannot share client information - it will all be implemented into our guidelines.


I understand if you are uncomfortable with this and would not like to work with us just yet. I can let you know in the future when we have approved QC guidelines and a price list for you.

So you be the judge....I know they are having some growing pains as the name has changed but I would think that you have a QC program in place if a pricing schedule...sample or not...if there is a fine attached for a failed QC inspection....I will be doing a follow up phone call later today with them to see if things have progressed....
 
#9 ·
They sent a sample pricing...they said sample....at the bottome of the price schedule was this statement.
Failed QC $100 fine....
$100 fine. That is interesting. If that makes it into their final pricing I'd like to see how that plays out. A- $100 fine and the contractor has to return to the property to make corrections? B-$100 and the contractor does nothing, the money just goes back into their pocket and it remains in that condition until the next regional gets the contract. C-$100 fine and it is reassigned.
 
#10 ·
All new regulations are safeguard, CoreLogic, MCS, and Freddie Mac all rolled into 1. You now have to write on a dry erase board the cubic yardage with photos, and take progressive load photos with measurements of your trailer in the photos. You're pre approved up to 30 cubic yards to remove at 25 dollars a cubic yard. Anything over 30 cubic yards you have to photograph with a white board, bag up and move to a garage or a basement and bid it. They do not pay for any bagging on moving debris. their initial REO service now pays 120 dollars for sales clean, change all locks and initial lawn cut. I think they also send E-Coupons for KY!!!!
 
#11 ·
All new regulations are safeguard, CoreLogic, MCS, and Freddie Mac all rolled into 1. You now have to write on a dry erase board the cubic yardage with photos, and take progressive load photos with measurements of your trailer in the photos. You're pre approved up to 30 cubic yards to remove at 25 dollars a cubic yard. Anything over 30 cubic yards you have to photograph with a white board, bag up and move to a garage or a basement and bid it. They do not pay for any bagging on moving debris. their initial REO service now pays 120 dollars for sales clean, change all locks and initial lawn cut. I think they also send E-Coupons for KY!!!!

Are freaking kidding me! more and more BS to deal with.
 
#24 ·
Yes that is how they are handling the VA contract they just got through the realtors...I know they are doing some sort of training in MD coming up soon...there is a lot of talk on the FB page about this....
I have also seen the pricing deal...I'm very leary of it as on the surface sounds real sweet...but you could get burried...you take the property for LIFE...of the property and do all maintenance, de-wints-re-wints....Don't know how to attach a document or I would post it for everyone to see....
I have it in PDF format????
so I'll do it this way.........................................$1,000.00 per property...cradle to grave

Property Preservation
Overview of Services Required
Securing or maintaining Real Estate Owned “REO” homes for the owner. The owner may be a bank,
a real estate company, or a government lending agency who hires a preservation company to clean,
secure and maintain foreclosed properties.
Initial Services
Completed within 7 calendar days of assignment
Facilitation of field eviction and moving services
Initial Inspection
Property Condition Report (PCR) inspection with systems checks
Visual lead based paint (LBP) inspections on pre-1978 houses
Winterization, including posting signs/stickers
Additional Services
Completed until the asset is sold or otherwise disposed
Subsequent de-winterization for inspection and re-winterization after inspection.
Eliminate health and safety hazards within twenty-four (24) hours of discovery
Install handrails
Secure swimming pools, spas, water features per local code
Securing windows and boarding and/or re-glazing windows when necessary
Boarding and/or re-glazing windows when necessary
Interior and exterior debris removal up to forty (40) cubic yards
Removal of one vehicle
Graffiti abatement
Smoke detectors and all detection devices required by law
Pest control (not to include termite or wood destroying organism treatment)
Ready to show
Initial lawn service up to 15,000 sq. ft. and shrub trimming and grounds maintenance
Prevention of further moisture damage
Sump pumps and pump outs
Roof repairs (patching and tarping only)
Cover electrical service panel and outlet covers
Recurring Services
Completed until the asset is sold or otherwise disposed
Routine monthly inspections
Re-inspections, habitability inspections, repair inspections, as needed
Recurring janitorial maid refresh
Securing and boarding as a result of vandalism
Biweekly lawn cut up to 15,000 square feet
Snow/ice removal in compliance with local laws
Salting for ice storms
Repairs as needed based on the results of routine inspections
 
#27 ·
Yes that is how they are handling the VA contract they just got through the realtors...I know they are doing some sort of training in MD coming up soon...there is a lot of talk on the FB page about this....
I have also seen the pricing deal...I'm very leary of it as on the surface sounds real sweet...but you could get burried...you take the property for LIFE...of the property and do all maintenance, de-wints-re-wints....Don't know how to attach a document or I would post it for everyone to see....
I have it in PDF format????
so I'll do it this way.........................................$1,000.00 per property...cradle to grave

Property Preservation
Overview of Services Required
Securing or maintaining Real Estate Owned “REO” homes for the owner. The owner may be a bank,
a real estate company, or a government lending agency who hires a preservation company to clean,
secure and maintain foreclosed properties.
Initial Services
Completed within 7 calendar days of assignment
Facilitation of field eviction and moving services
Initial Inspection
Property Condition Report (PCR) inspection with systems checks
Visual lead based paint (LBP) inspections on pre-1978 houses
Winterization, including posting signs/stickers
Additional Services
Completed until the asset is sold or otherwise disposed
Subsequent de-winterization for inspection and re-winterization after inspection.
Eliminate health and safety hazards within twenty-four (24) hours of discovery
Install handrails
Secure swimming pools, spas, water features per local code
Securing windows and boarding and/or re-glazing windows when necessary
Boarding and/or re-glazing windows when necessary
Interior and exterior debris removal up to forty (40) cubic yards
Removal of one vehicle
Graffiti abatement
Smoke detectors and all detection devices required by law
Pest control (not to include termite or wood destroying organism treatment)
Ready to show
Initial lawn service up to 15,000 sq. ft. and shrub trimming and grounds maintenance
Prevention of further moisture damage
Sump pumps and pump outs
Roof repairs (patching and tarping only)
Cover electrical service panel and outlet covers
Recurring Services
Completed until the asset is sold or otherwise disposed
Routine monthly inspections
Re-inspections, habitability inspections, repair inspections, as needed
Recurring janitorial maid refresh
Securing and boarding as a result of vandalism
Biweekly lawn cut up to 15,000 square feet
Snow/ice removal in compliance with local laws
Salting for ice storms
Repairs as needed based on the results of routine inspections
Unless I'm missing something this does not seem at all like a good deal. How would this be any different than some other nationals offering a ~$600 flat fee but paying for maids, boardings, lawns, etc? In the end it'd probably be the same, if not worse because of the recurring services.
 
#25 ·
I have spoken at length with them and initially refused the work based on my experiences in my area with debris and filth amounts on initials and how long my properties typically take to sell.

However, I have been told that the list is not necessarily all inclusive for the $1,000. There are exceptions.

So I am waiting on a detailed list and explanation of exactly what are, and what are not, potential exceptions that can be bid/billed for beyond the $1,000.

Once I have that I will weigh the risks and decide.
 
#26 ·
I have spoken at length with them and initially refused the work based on my experiences in my area with debris and filth amounts on initials and how long my properties typically take to sell.

However, I have been told that the list is not necessarily all inclusive for the $1,000. There are exceptions.

So I am waiting on a detailed list and explanation of exactly what are, and what are not, potential exceptions that can be bid/billed for beyond the $1,000.

Once I have that I will weigh the risks and decide.
Keep us posted on what you find out. :thumbsup:
 
#31 ·
I know a couple people that are going to their "training" and as I get information I will post...
Myself....very high risk...very risky...I might consider consideration if it was 20 yards vs the 40 but still I would be very hesitant to commit to the life of the property...that would definitely have to be amended to 1 year...

Again as most have stated this is not a good deal at all.....for us that is...
It has to be good for VRM...............
 
#32 ·
If i wanted my money held hostage, i would give it to my wife.Anyone one who would agree to that is not thinking clearly.

We turned them down If i wanted to whore myself out at least i would do it in a way i would enjoy.

These companies that do this kind of stuff have no respect for the contractor. To even suggest something like that is ass-nine.That would be like letting a customer on a soffit and siding job hold on to a percentage of the balance for five years to see if they are satisfied with the job.
 
#35 ·
So I went to the training in Raleigh, NC. What a joke. $1000.00 flat fee, or so they say. 70% after all initials are complete and approved by broker. 20% at closing, and remaining 10% if you have never been late, and never a complaint from the broker. VRM pays within 2 weeks of completion, and they QC photos, but without broker approval on ALL services, no pay until corrected. The broker is your primary contact from eviction to closing. Sump pump needs replaced, vendor has to pay, as it is in scope for the vendor to replace the sump one time. All smokes and co's are vendor responsibility. Boarding, tarping, minor roof repair, you name it, it's your responsibility. Up to 4 wint. and de-wints are included as in scope operations. 40 CYD debris removal, bid remaining at $35/CYD. People acted excited, but I said it sounded like crap. I can make more by not cutting out the middle man. What do you think?
 
#36 ·
What do I think?

I KNOW that any one signing on to this "deal" is going to get stuffed worse than any thanksgiving turkey has been stuffed.
 
#37 ·
That's basically what I told the COO and her minions after the training. I will stick with the same National I have been using, and will still work on the same homes as I would by going straight through VRM. I will get paid every time I go to the property and will not lose money. Oh yeah, grass cuts every 14 days and maid refresh on the same schedule all for the same money. Negative.
 
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