solution

After learning about obtaining the Offer (Chapter 10) and the purchase process (Chapter 11), follow these steps to answer the questions below and submit in Word or PDF document in Canvas. The purpose of this exercise is to gain knowledge about property inventory and how you can use that information to negotiate on your transaction.

Choose a property you would like to purchase as your first choice. It can be a/an Single Family Residence, Apartment, retail strip mall, etc. You can use public websites to find this information, Zillow, redfin, realtor.com, etc.

1-Give some information and a screenshot about this purchase property, what you like about it and where you found it.

Using one of these online sources (mention above), find 2 similar, alternate properties for sale (active or in escrow, not closed) and answer the following questions. If these were closed/sold properties, we would call them “comps”:

2-Give some information about the 2 alternate properties and how they are different from the purchase property.

3-What price would you offer the seller of your purchase purchase property?

4-Comparing your other two alternate properties, give some specific reasons why you are offering this price on your purchase property.

5-With information about your purchase property and alternates, list any contingencies or options you would include in your offer/purchase agreement. Maybe your purchase property needs repairs or there’s a concern about the tenants that live there? Maybe it doesn’t have certain features that exist in the alternates? Do you want a lower price, the seller to fix anything, or would you prefer a credit to do the repairs yourself?

*Note, if you want to purchase this property you will have to be reasonable on the price and terms while trying to get what you want. An offer of $1,000 would simply be rejected. Think of this as a realistic purchase scenario where the information you learn and the data you have can you help you in your negotiations of the purchase property.

Its just finding a property online and comparing them.