Bids............. - REO Property Preservation Forum
 
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post #1 of 8 (permalink) Old 10-28-2015, 10:02 AM Thread Starter
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Bids.............

New policy with my company on ANY bank owned property. Minimum bid fee of $50 up to $5,000 value and $50 for every $5,000 over that. Bid fee refundable on final invoice if approved. Tired of giving free bids and getting 2-3% approval. Had a request this AM for a replumb on a mold house. Screw the mold, lets put new plumbing in! You know damn good and well all they are doing is filing a claim with my bid and NOTHING will get done!
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post #2 of 8 (permalink) Old 10-28-2015, 10:22 AM
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Originally Posted by mtmtnman View Post
New policy with my company on ANY bank owned property. Minimum bid fee of $50 up to $5,000 value and $50 for every $5,000 over that. Bid fee refundable on final invoice if approved. Tired of giving free bids and getting 2-3% approval. Had a request this AM for a replumb on a mold house. Screw the mold, lets put new plumbing in! You know damn good and well all they are doing is filing a claim with my bid and NOTHING will get done!
Man you are speaking my language. We have been getting abused around my office. They are using our numbers to do feasibility studies nothing more. I sent one in last week and they came back and asked me to use a specific carpet and specific paint they wanted the sq footage etc. I told them for $350.00 I would bid it however they desired. Otherwise my price is my price.
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post #3 of 8 (permalink) Old 10-28-2015, 10:47 AM
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My favorite is the bid everything, and if you miss

something. you are responsible to complete at your expense. Oh, and it's a trip charge.

Forget the fact that the property that has suffered years of mortgagee neglect, been vandalized, the roof has been leaking, you're responsible because we sent you there on a fictitious re-secure order, and will most certainly never give you any of the work. it's awesome.
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post #4 of 8 (permalink) Old 10-28-2015, 11:11 AM
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Man you are speaking my language. We have been getting abused around my office. They are using our numbers to do feasibility studies nothing more. I sent one in last week and they came back and asked me to use a specific carpet and specific paint they wanted the sq footage etc. I told them for $350.00 I would bid it however they desired. Otherwise my price is my price.
Absolutely the way to go ! And I commend all of you for your integrity and willingness to stop the constant sticking it to us ! I always stand firm when I can, in particular realtor's, and the majority of the time with others, but let me ask a question, do you guys have the pleasure of orders from any of the nationals ? If so how do you approach the asset manager and what verbiage do you use to convince them ? and to prevent future retaliation ?
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post #5 of 8 (permalink) Old 10-28-2015, 06:38 PM
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I agree that trip charges should not include any bids and should include nothing more than going to the property. If I get out of my truck and take any pics other than the 3 required to prove I was there, additional compensation should be given, but how can one get away with this when working for nationals? I know, I know, don't work for the nationals, but when they are a majority of the volume I have, it's not really a choice at the moment. We are trying to get away from that, but it's not as easy as I once thought. I'm sure if I call my national and say pay me for the bid and I'll place one, they will laugh in my face and say either do it or we will reassign your territory.
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post #6 of 8 (permalink) Old 10-28-2015, 06:50 PM
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I don't mind some bids, but when they are just

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I agree that trip charges should not include any bids and should include nothing more than going to the property. If I get out of my truck and take any pics other than the 3 required to prove I was there, additional compensation should be given, but how can one get away with this when working for nationals? I know, I know, don't work for the nationals, but when they are a majority of the volume I have, it's not really a choice at the moment. We are trying to get away from that, but it's not as easy as I once thought. I'm sure if I call my national and say pay me for the bid and I'll place one, they will laugh in my face and say either do it or we will reassign your territory.
using your resources, and trying to make you responsible for properties that have been in inventory and neglected for years, When another contractor just left the property on a loan type that you know requires them to inspect and bid everything too. If you don't smell a rat, your instincts are off.

Luckily we have this place, and i can learn from others mistakes, I don't always have to learn the hard way.

You really have to work defensively. The best course of action is to just ask to re-assign, and act like you were never there. Make something up.
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post #7 of 8 (permalink) Old 10-29-2015, 04:49 AM
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We had a wonderful broker who used to send me $100 for every bid I wrote for her on BOP. I also knew a woman who ran a minority owned realty who expected bids on property within 24 hours for free no matter where it was located and when doling out work, expected freebies and kick backs. She used and manipulated 2nd bids in order to keep her own personal crew busy. When we started declining her business she became agitated and started bypassing my office manager and sent the bids and PCRs to me.
We turned down crap from the Nationals by explaining it was out of the scope of work and would be X for an outside sub to bid it. Or we just said no.
Did you ever wonder why you got someone else's bid?
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post #8 of 8 (permalink) Old 10-29-2015, 08:24 AM
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For the most part with Real Estate people

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Originally Posted by GTX63 View Post
We had a wonderful broker who used to send me $100 for every bid I wrote for her on BOP. I also knew a woman who ran a minority owned realty who expected bids on property within 24 hours for free no matter where it was located and when doling out work, expected freebies and kick backs. She used and manipulated 2nd bids in order to keep her own personal crew busy. When we started declining her business she became agitated and started bypassing my office manager and sent the bids and PCRs to me.
We turned down crap from the Nationals by explaining it was out of the scope of work and would be X for an outside sub to bid it. Or we just said no.
Did you ever wonder why you got someone else's bid?
It is their world, we just live in it.
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