Acquisitions Meeting 1
Acquisitions Mastery Quiz
Test your knowledge and skills in the world of property acquisitions with our engaging quiz. This quiz is designed for those involved in real estate, especially in acquisitions, to evaluate their understanding and decision-making in various scenarios.
- Multiple choice questions
- Real-world scenarios
- Learn while you play
When you receive a lead, what is the first thing to do?
Qualify
Chat Acquisitions
Fill in Podio
The property you are looking for is 2,540 sq ft. Choose the best comparable based on that characteristic.
1262 sq ft
1758 sq ft
2105 sq ft
3077 sq ft
You see that the property has 1 bath and no beds in MLS. What should you do?
Check on propstream.
Ask the seller how many beds and baths the property has
Confirm with the seller
Check zillow
Your lead doesn't have the full address and Sir Ralph can't locate it in CAD. What should you do?
Skip the lead.
Locate the property yourself using county records
Call the seller and ask for the full address
Ask Sir Fahad for the property address.
The comps you see are all over the place and are extremes. What should you do?
Go to tax value and offer assessed value
Go by the lowest comp.
Never use the lowest comp
Use the average comp
The 75217 property is in the flood plain, what should you do?
Don't mind it, it's still a property our investors prefer because it's 75217.
Don't mind it because we can sell it at a higher price.
Inform the seller and make them understand it's in a flood plain so we need to get it lower
Confirm with the seller if they have been flooded in the past and offer really cheap, like 10-30% of its value.
What do you check in Propstream?
Properties that don't have comps in MLS or HAR
Houses that have been burned down
Liens
Out of state properties (TX)
We can offer ______________ for mabank lots.
1,000-2,000
Depending on the comps.
100-500
We don't because it's not going to give us 8,000 assignment fee.
The property is landlocked, what should you do?
Skip. We don't like landlocked properties.
Tell the seller it is landlocked and offer 100 dollars.
Offer really low and inform the seller that it is because it is landlocked and we need to gain access.
Tell Dispositions it's landlocked and wait for him to tell you we have a buyer.
The seller says that he wants us to pay for the back taxes, what should you do?
Ask the seller how much the back taxes are and tell Sir Fahad.
Adjust your price range and tell him we can give him a particular amount (net) to walk away with.
Tell the seller you will ask for approval and ask Sir Ralph to put it on the special provisions.
The seller says he wants to sell the mobile home but not the land, what should you do?
Inform seller that we need to buy them together.
Let the seller know we have agents who can list it.
Ask the seller for the price range and offer really low.
Hang up. Don't waste time.
Who was the previous owner of 20907 Meadowlark, Chandler, Texas 75758?
Brannigan Kerry
Johnson David L
Crumpler Linda M
518 Davidson Drive Garland, TX 75040-7233 is
4 beds, 2 baths and sold last August.
4 beds 2 baths and is out of the special flood hazard.
4 beds, 1 bath in the flood plain
4 beds, 1.5 baths in the flood plain
How often should you check MLS?
Every lead.
When it's mabank or granbury, you don't have to.
Every lead before going to propstream.
The lot is only 2,200 sq ft. What should you do?
Inform Sir Fahad
Skip, it's too small
Ask sir Ralph to see in CAD if it's buildable
Ask Sir Ralph to check with the city if it's buildable.
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