3 point preservation - REO Property Preservation Forum
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post #1 of 37 (permalink) Old 10-08-2012, 08:40 AM Thread Starter
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3 point preservation

these people don't know how to pay either. We have not gotten paid from our client so we are not going to pay you??? Whata bunch of crap
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post #2 of 37 (permalink) Old 10-08-2012, 09:31 AM
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Lien asap. If you can't then threaten it anyway and get hold of the lender.
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post #3 of 37 (permalink) Old 10-08-2012, 09:33 AM
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Originally Posted by Splinterpicker View Post
these people don't know how to pay either. We have not gotten paid from our client so we are not going to pay you??? Whata bunch of crap
That is not a bunch of crap at all and you most likely signed a contract agreeing to this type of payment agreement.

How are they supposed to pay you if the client hasn't paid them?

I do not think that they are a great company nor am I saying they are above board. I am simply stating that if you agreed to this type of payment arrangement then this is within their rights.
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post #4 of 37 (permalink) Old 10-08-2012, 09:51 AM
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Which is exactly my problem with the pay when paid model. If you as the"regional" decide not to do your due diligence and sign up with a sketchy company, not the subs problem. Now if something wasn't done properly, that's a different story. But in this case, if the person paying 3 point just didn't pay, but everything was done properly, the sub should still be paid, and 3 point will have to try and collect from the person paying them.
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post #5 of 37 (permalink) Old 10-08-2012, 09:53 AM
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I'm sure they signed a contract that agreed to those terms but 95% of nationals and regionals don't follow state and local laws. In Michigan you can't have a blanket lien waiver. Its a job by job lien waiver only. Most of nationals contract agreements will be tossed out by a judge because they aren't licensed contractors in the state they are issuing work in, by law in michigan they must a builders license in order to sub work out. If it gets nasty just tell the national that and they are screwed. They must pay or the judge will place a lien on the property for performing work without a conctractors license and the fine is 5000k. Call your local licensing agent they love and live to bust these guys.

Its not his problem if the regional/national didn't get paid, if he completed the work and to the clients standards then he should be paid. Most payment issues are not the clients fault its the company that issued the invoice. They made a mistake by not putting a PO number on, wrong info, inovice amount not correct.


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Originally Posted by Doberman Properties View Post
That is not a bunch of crap at all and you most likely signed a contract agreeing to this type of payment agreement.

How are they supposed to pay you if the client hasn't paid them?

I do not think that they are a great company nor am I saying they are above board. I am simply stating that if you agreed to this type of payment arrangement then this is within their rights.
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post #6 of 37 (permalink) Old 10-08-2012, 01:06 PM
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WHMLC,

In a nutshell YOU just explained why it does not pay to be a regional anylonger. It cost our company an average of $40,000 per year in "non-pays" with a high year of $70k++.

Contract Law 101. Local, State, Fed laws supercede contracts thus the reason for the Severance Portion of a contract. Without that portion a contract is "tossed out" by any judge.... What a guy can learn the hardway Every State that I know of has the same requirements as what you stated for Michigan.

Just not worth the risk anylonger by using subs in a non-regulated industry. As stated from others on the "other" forum...employees are the only way to prevent that set of problems albeit having employees has other headaches.
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post #7 of 37 (permalink) Old 10-09-2012, 09:18 AM Thread Starter
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Quote:
Originally Posted by Doberman Properties View Post
That is not a bunch of crap at all and you most likely signed a contract agreeing to this type of payment agreement.

How are they supposed to pay you if the client hasn't paid them?

I do not think that they are a great company nor am I saying they are above board. I am simply stating that if you agreed to this type of payment arrangement then this is within their rights.
from their contract



PAYMENT:
3P makes every attempt to pay its contractors an agreed upon fee for each on-time job, net 30 days. Invoices will not be considered as having been submitted for payment until all photographs, reports, quality issues, and any other agreed upon requirements are received and resolved. Failure to follow product directions and requirements may affect payments

So they are in breech of contract


Doobie their problems with their client ARE NOT my problem. My contract is NOT WITH THEIR CLIENT. MOre than likely they are feeding me a line of . That is called business. Through no part of my own did receive any QC notices that were declines or ?? If you want quality subs then you have to pay when yousay you will and retain them. Sounds like you have a hard time retaining subs withthat kind of ethic. With mine I pay when the work is done and passed QC not 30 to 60 days out . Quality subs= reliable arrivals on site and professional results. We are not doing this for our health
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post #8 of 37 (permalink) Old 10-10-2012, 06:54 AM
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Quote:
Originally Posted by Splinterpicker View Post
from their contract



PAYMENT:
3P makes every attempt to pay its contractors an agreed upon fee for each on-time job, net 30 days. Invoices will not be considered as having been submitted for payment until all photographs, reports, quality issues, and any other agreed upon requirements are received and resolved. Failure to follow product directions and requirements may affect payments

So they are in breech of contract


Doobie their problems with their client ARE NOT my problem. My contract is NOT WITH THEIR CLIENT. MOre than likely they are feeding me a line of . That is called business. Through no part of my own did receive any QC notices that were declines or ?? If you want quality subs then you have to pay when yousay you will and retain them. Sounds like you have a hard time retaining subs withthat kind of ethic. With mine I pay when the work is done and passed QC not 30 to 60 days out . Quality subs= reliable arrivals on site and professional results. We are not doing this for our health

FUNNY... They were out with 60-90... They were pressuring for recuts and intitals... I told them I had to put them on hold as their account was unpaid this was in end of July. Stopped doing their work... 15 days later they got current.
A week ago they called asking if I would resume work...lol
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post #9 of 37 (permalink) Old 10-10-2012, 08:07 AM
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The following is from their website



What are your qualifications and what makes 3Point so different in the marketplace?

For years, lenders have asked about mortgage supply chain management. The fact is that a recent poll showed that 70% of many well known networks have some sort of material overlap. What that means is, that despite which national provider you use, there is a strong chance that the boots on the ground doing the actual work or transactions could be the same individuals. In addition, 3Point's management team is industry experienced and has implemented best in class process from lenders, servicers and providers across the country.

Furthermore, 3Point embraces technology, operational guides, and training manuals to ensure your explicit instructions are followed, and we go through great effort to ensure that your property is managed correctly the first time.



I know most contractors work for multiple companies, so how does this make them different?
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post #10 of 37 (permalink) Old 10-11-2012, 11:06 AM Thread Starter
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Their E mail to me regarding the work orders assigned to me

Dear Partner:

You have a new approved work order from 3Point Lender Services. You have 1 hour to login and accept it, or it will be reassigned.

I told them to reassign them yesterday. and thats when I got this e mail.

Time will tell if they will back up their words with action

me a river
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