Unpaid REO expenses

[reogal]

What is the name of your state? Washington

I currently list REO properties for 3rd party asset management companies and banks. In order to list these properties, real estate agents are required to pay past due and ongoing utility expenses and other expenses on the property until it closes. These companies are now imposing new rules saying you have to submit your expenses within 30 days of them being incurred or they won't reimburse you for these expenses. I have missed the 30 day mark on several accounts because of being overwhelmed with bookkeeping duties and want to know if I have any recourse to get several thousand dollars back for several properties that have not closed escrow yet. Can I put a lien against the property?

 

[FlyingRon]

If the new restriction is applicable to you,t hen those charges incurred after the effective date are your responsibility. Being "overwhelmed" isn't a legal avenue. If you can't deal with these things in a timely fashion you need to manage fewer properties or get help.

Have you tried submitting them anyhow?