Report: #1261753

Complaint Review: Team Lear - Denver Colorado

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Ripoff Report is Xcentric Ventures

Submitted: Fri, October 16, 2015
Updated: Wed, October 21, 2015
Reported By: Cindy — Manassas Park Virginia USA

Author Confirmed

Why?

Team Lear DG 2373 Central Park Blvd Suite 100 Denver, Colorado USA

Phone: 720-515-7037 ext. 215
Web: www.teamlear.com
Category: Liars

Team Lear LDG Walter Prescott They offer an REO property and ask me to do BPO as well as inform if the property was vacant. They also asked for $499.00 refundable fee at closing for asset management. I completed all the task online and tried to contact the Mr. Prescott as well as billing dept and customer service and they did not respond. I then called the bank and I am on the process of submitting fraud charges to get my money back. Denver Colorado

*Consumer Comment: Thank You

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Team Lear also known as LDG are liars and even though they seem legit they have a website with information on REO process, BPO etc and they even assigned you a property that is on Pre-Foreclosure, don't go for it. Following is their sales pitch:

This is Walter Prescott it was great speaking with you about the distressed properties I have available in your area. Per our previous conversation, here is a little information we discussed about receiving property listings and working with me as your asset manager.

I work directly with major and minor banks, credit unions, lending institutions and private investors over all 50 states. The lender on this property is looking for 3 things: a BPO to best determine the market value on the property, the current occupancy status which will help determine how soon the property can be listed, and an agent to list and market the property.

If you complete these BPO's within the time requested by the lender and it is priced accurately, you can be assured to receive these as listings when the lender takes back ownership of them. We have a team that reviews the BPO once you submit it online to make sure they are completed accurately, so be assured that we work with you and we aggressively market you as the exclusive agent.

As of now, Team Lear has a property that is in distress that requires preliminary work to be done. A BPO is required to satisfy the lender with the necessary information needed from you to determine the Market Value of the subject property. A solid BPO should be provided within 48-72 hours for assurance of the listing once ownership has shifted hands from the homeowner to the lender. Properties that are provided to you are expected to be your exclusive properties to list, market, and sell for the lenders in your area. Our lenders pay out a 7% commission in total on these properties, 6% of which would go to you, and 1% that would be paid to us.

Available properties:

4401 Braeburn Dr,

Fairfax, VA 22032

Team Lear's proprietary default property management software has been built to improve performance and efficiency while streamlining the foreclosure process. The lenders access the software to view Agents/Brokers submitted BPO assignments and see who services different areas to provide you with property listings, cash for key, and re-key assignments. Our platform will also be used to send you subsequent assignments. The preferred online portal to use for all our lending institutions is a proprietary system at www.teamlear.com. The software is only accessible via Google Chrome, Firefox, or Safari. If you have any questions or concerns, please be sure to contact me via email or phone.

There is a one time activation deposit that you would be responsible for of $449.00 which is used as a security deposit and is put towards the property preservation and management on your first listing that helps assist us with the initial costs which will be reimbursed to you upon listing of the property. We put up the remaining costs on that first listing and all others that you would receive from us. It is not a reoccurring charge. We guarantee that you will receive at least 1-3 listings with us in the first 12 months, and if for any reason that doesn't happen, you are eligible for a full refund of the $449.

Consequently, I'd also like to take the opportunity to illustrate what you can expect from me as your Asset Manager:

A direct point of contact Monday - Friday 8:00 am - 4:30 pm MDT 720-515-7037 ext.213

Handle all tasks associated with managing the properties including: cash-for- keys, evictions, trash-outs, re-keys, inspections, repairs, general maintenance work, utility coverage, and emergency maintenance.Full access to our online portal at www.teamlear.co

Access to our Customer Support Team, if I am not currently availabl

Tools used to market you (as the agent/broker) back to our lender(s)

I look forward to partnering with you!

Walter Prescott
Asset Manager
Lear Disposition Group
720-515-7037 Ext. 213- direct
www.Teamlear.com

This report was posted on Ripoff Report on 10/16/2015 11:18 AM and is a permanent record located here: https://www.ripoffreport.com/reports/team-lear/denver-colorado-80238/team-lear-ldg-walter-prescott-they-offer-an-reo-property-and-ask-me-to-do-bpo-as-well-1261753. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Thank You

AUTHOR: Jo Ann - (USA)

SUBMITTED: Wednesday, October 21, 2015

POSTED: Wednesday, October 21, 2015

I received a call from Team Lear this morning. It all sounded great, but the demeanor of the representative on the other end made the red flags go up. I found Ripoff Report site and read the complaints from other realtors. Thank you for posting! I'm sorry you got scammed, but you sure prevented me from the same misfortune. good luck to you. I am going to take this one step further, I'm going to research the property they assigned to me and verify info, as well as notify our local Association of Realtors so they can post a warning. Again, thank you for sharing this scam.

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