Maria Gudelis

Foreclosure is just one of those areas. It was Robert Allen who said “More bargains are available in the area of foreclosures than in any other area of real estate.” (Multiple Streams of Income – p.157)

This is a rating that you assign to the property under consideration to help evaluate whether the property is a good candidate or whether you should pass it up and keep looking. A property potential assessment form is provided for your use in determining this score.

€ Determining fair market value €” fair market value compares the property you are considering to similar properties in that area. The comparable properties should be similar in location, size, and age to your subject property. Choose properties from the same subdivision and record the same information you did about your subject property. I have included a fair market valuation form on the following page for you to record this information. You can obtain comparable data from local real estate agents, the local tax assessor’s office, or possibly online from public records as described previously.

Basic property information €” Begin your analysis by collecting the following basic property information:

Property Address: ________________________________________________

City, State, Zip: __________________________________________________

Property Appointments: Sq. Ft.: __________ Year Built: __________

# of Bdrms: _______ # of Baths: _______ Carport/Garage/None (circle one)

Type of construction: Brick/Block or Frame (circle one)

Property Contact: ______________________ Phone: ____________________

Property Owner: _______________________ Phone: ____________________

Why is this property being sold? _____________________________________

Any offers? _______________ How long on the market? _________________

What do you feel are the best price and terms you can accept for a quick sale?

________________________________________________________________

What is the fair market value€ of the house? ____________________________

What is the property potential assessment score€¡? _______________________

€ Determining fair market value €” fair market value compares the property you are considering to similar properties in that area. The comparable properties should be similar in location, size, and age to your subject property. Choose properties from the same