Checklist - Deal Analysis & Appraisal (Desc) - FortuneBuilders
[Pages:6]Deal
Analysis
&
Appraisal
Checklist
STAGE
1
?
GATHERING
PROPERTY
INFORMATION
o Research
the
Seller
Most
of
the
time
you
will
not
have
time
to
research
the
seller
if
they
call
you
directly.
However,
sometimes
you
get
a
web
lead,
a
voicemail
you
have
to
return
or
your
making
an
outbound
FSBO
call.
If
this
is
the
case
1)
Look
up
the
seller
on
Facebook/Google
to
see
if
there
is
anything
you
have
in
common
that
will
help
you
build
trust
and
rapport
before
you
call.
2)
Look
up
the
property
to
see
if
it
is
currently
listed
on
the
MLS
before
you
call
if
you
have
the
opportunity.
This
is
not
essential
because
you
can
find
out
when
you
call
the
seller
back,
but
it
does
give
you
more
insight
before
reaching
out.
o Fill
out
the
"Seller
Lead
Sheet"
If
you
are
speaking
to
either
the
seller,
a
representative
of
the
seller,
or
a
wholesaler
then
make
sure
you
utilize
the
"Seller
Lead
Sheet"
to
gather
all
the
important
information
about
the
property
and
the
seller's
situation
so
you
have
the
details
you
need
to
start
analyzing
the
property.
The
"Seller
Lead
Sheet"
is
a
document
you
can
download
on
the
Mastery
website.
o Research
the
Agent
Before
you
call
a
specific
agent
who
has
a
MLS
listing
you
are
interested
in
you
should
quickly
research
the
following.
1.
See
if
you
have
a
contact
record
for
them
already
set
up
in
Realeflow
or
your
database
to
refresh
your
memory
if
and
when
you
spoke
to
them
in
the
past.
2.
If
your
MLS
has
the
ability
to
search
agents
by
first
and
last
name
you
can
get
an
idea
of
how
many
listings
they
have
currently
and
historically
to
see
how
experienced
they
are.
3.
Look
them
up
on
Facebook/Google
for
anything
you
can
utilize
to
build
trust
and
rapport
before
you
call.
o Pull
up
or
Printout
the
MLS
Property
Listing
Sheet
If
the
property
is
listed
on
the
MLS
make
sure
you
pull
up
the
listing
on
your
computer
or
printout
the
MLS
property--listing
sheet
so
you
can
quickly
review
it
before
you
call
the
agent.
Make
sure
to
click
through
the
pictures
as
well
to
refresh
your
memory
about
the
current
condition
of
the
property.
o Fill
out
the
"Agent
Lead
Sheet"
If
you
are
speaking
to
a
real
estate
agent
or
broker
then
make
sure
you
utilize
the
"Agent
Lead
Sheet"
to
gather
all
the
important
information
about
the
property
and
the
seller's
situation
so
you
have
the
details
you
need
to
start
analyzing
the
property.
The
"Agent
Lead
Sheet"
is
a
document
you
can
download
on
the
Mastery
website.
o Review
Zillow
"Zestimate"
Value
o View
the
Property
&
Neighborhood
Using
Google
Maps
Either
before,
during,
or
after
the
call
with
the
agent
or
seller,
enter
the
property
address
into
to
see
what
the
Zestimate
is.
This
number
will
not
be
highly
accurate,
but
it
will
give
you
a
ballpark
valuation
for
the
property.
This
will
help
guide
the
conversation
and
help
you
determine
how
much
time
you
should
spend
gathering
information
about
the
property.
Plug
the
address
into
Google
Maps
and
click
on
the
street
view
to
get
an
idea
of
what
the
property
and
neighborhood
look
like.
o Create
a
Property
Record
in
Realeflow
Create
a
new
"Property
Record"
in
your
Realeflow
account
so
you
can
track
the
property
you
are
analyzing.
Just
enter
basic
information
about
the
property
to
start
because
you
can
add
more
details
later.
o Create
a
Seller
Contact
Record
in
Realeflow
Create
a
new
"Seller
Contact
Record"
in
your
Realeflow
account
so
you
can
track
the
sellers
contact
information
and
so
you
can
keep
track
of
all
notes
about
your
future
conversations.
Make
sure
the
Seller
Contact
Record
is
linked
to
the
Property
Record
as
the
owner
of
the
property.
Just
enter
basic
contact
information
to
start
and
you
can
add
more
details
later.
v1.0
r09012015
Deal
Analysis
&
Appraisal
Checklist
o Create
an
Other
Contact
Record
in
Realeflow
for
the
Agent
Create
a
new
"Other"
contact
record
in
your
Realeflow
account
so
you
keep
track
of
the
listing
agents
contact
information.
When
you
click
the
"Type
of
Other"
contact
you
can
select
"Realtor"
so
all
your
agent
contacts
are
grouped
appropriately.
Make
sure
the
"Realtor"
contact
record
is
linked
to
the
Property
Record
as
the
Realtor
for
the
property.
Just
enter
basic
contact
information
to
start
and
you
can
add
more
details
later.
o Scan
and
Save
the
Seller
or
Agent
Lead
Sheet
to
Realeflow
or
Dropbox
Once
you
have
filled
out
either
the
"Seller
Lead
Sheet"
or
"Agent
Lead
Sheet"
then
you
should
scan
and
save
the
document
to
the
documents
section
inside
Realeflow
so
you
can
review
it
anytime
you
are
looking
at
the
property
record.
Some
people
will
save
all
paperwork
related
to
a
property
on
"Dropbox"
in
addition
or
instead
of
using
the
folders
in
Realeflow.
o Save
the
MLS
Property
Listing
Sheet
to
Realeflow
or
Dropbox
Save
a
PDF
version
of
the
MLS
Property
Listing
Sheet
to
Realeflow
or
Dropbox
to
the
documents
section
within
Realeflow
if
the
property
is
listed.
o Research
the
Seller
Most
of
the
time
you
will
not
have
time
to
research
the
seller
if
they
call
you
directly.
However,
sometimes
you
get
a
web
lead,
a
voicemail
you
have
to
return
or
your
making
an
outbound
FSBO
call.
If
this
is
the
case
1)
Look
up
the
seller
on
Facebook/Google
to
see
if
there
is
anything
you
have
in
common
that
will
help
you
build
trust
and
rapport
before
you
call.
2)
Look
up
the
property
to
see
if
it
is
currently
listed
on
the
MLS
before
you
call
if
you
have
the
opportunity.
This
is
not
essential
because
you
can
find
out
when
you
call
the
seller
back,
but
it
does
give
you
more
insight
before
reaching
out.
o Fill
out
the
"Seller
Lead
Sheet"
If
you
are
speaking
to
either
the
seller,
a
representative
of
the
seller,
or
a
wholesaler
then
make
sure
you
utilize
the
"Seller
Lead
Sheet"
to
gather
all
the
important
information
about
the
property
and
the
seller's
situation
so
you
have
the
details
you
need
to
start
analyzing
the
property.
The
"Seller
Lead
Sheet"
is
a
document
you
can
download
on
the
Mastery
website.
o Research
the
Agent
Before
you
call
a
specific
agent
who
has
a
MLS
listing
you
are
interested
in
you
should
quickly
research
the
following.
1.
See
if
you
have
a
contact
record
for
them
already
set
up
in
Realeflow
or
your
database
to
refresh
your
memory
if
and
when
you
spoke
to
them
in
the
past.
2.
If
your
MLS
has
the
ability
to
search
agents
by
first
and
last
name
you
can
get
an
idea
of
how
many
listings
they
have
currently
and
historically
to
see
how
experienced
they
are.
3.
Look
them
up
on
Facebook/Google
for
anything
you
can
utilize
to
build
trust
and
rapport
before
you
call.
v1.0
r09012015
Deal
Analysis
&
Appraisal
Checklist
STAGE
2
?
DESKTOP
APPRAISAL
o Print
Tax
Assessor
Property
Card
or
Assessors
Field
Card
Most
Multiple
Listing
Service
databases
have
tax
assessor
data
built
into
the
database
where
you
can
pull
up
online
assessor
property
cards
/
field
cards.
You
use
this
information
to
verify
what
the
seller
or
agent
told
you
about
the
property
over
the
phone.
If
you
don't
have
access
to
the
MLS
in
your
area
you
can
call
the
tax
assessors
office
and
ask
them
if
they
have
an
online
website
where
you
can
access
property
information
about
properties
in
the
area.
We
use
this
information
to
pull
our
comparable
sales
in
this
stage.
On
the
property
card
you
will
usually
find
information
like
owner
info,
tax
assessment
info,
property
characteristics,
sales
history,
mortgage
history,
and
sometimes
listing
history.
is
a
company
that
often
provides
this
information
to
Multiple
Listing
Services.
o Save
Tax
Assessor
Property
Card
to
Realeflow
Save
a
PDF
version
of
the
Tax
Assessor
Property
Card
to
Realeflow
or
Dropbox
to
the
documents
section
within
Realeflow
if
the
property
is
listed.
o Verify
Information
from
"Seller
Lead
Sheet"
You
will
want
to
check
the
information
you
gathered
from
the
seller
in
Stage
1
and
make
sure
it
matches
what
you
see
on
the
tax
assessor's
property
card.
Look
for
discrepancies
in
information.
o Verify
Information
from
"Agent
Lead
Sheet"
You
will
want
to
check
the
information
you
gathered
from
the
agent
in
Stage
1
and
make
sure
it
matches
what
you
see
on
the
tax
assessor's
property
report.
Look
for
discrepancies
in
information.
o Verify
Information
from
MLS
Comparable
Property
Listing
Sheet
If
the
property
is
listed
make
sure
you
verify
that
the
information
the
seller
or
agent
gave
you
about
the
property
matches
what
is
on
the
MLS
Property
Listing
sheet.
o Pull
Comparable
Sales
from
The
MLS
Look
for
a
minimum
of
three
to
four
sold
comparables
that
are
good
after
repair
value
comparables.
Also,
look
for
active
properties
and
properties
on
deposit
that
have
not
yet
closed
to
get
a
feel
for
what
is
currently
happening
in
the
market.
o Select
The
Best
After
Repair
Value
Comparables
When
you
pull
your
comparables
you
will
want
to
eliminate
properties
that
are
not
in
after
repair
value
condition.
So
you
will
be
looking
for
properties
that
have
been
remodeled
or
properties
that
are
traditional
sales
in
good
condition.
You
will
want
to
eliminate
comparables
that
are
not
in
good
condition
because
they
are
not
after
repair
value
comparables.
o See
if
the
Subject
Property
Was
Listed
Recently
Always
search
the
MLS
to
see
if
the
subject
property
was
listed
recently.
o Determine
the
Quality
of
the
Deal
At
this
stage
you
should
determine
whether
or
not
this
is
a
quality
lead
and
if
it
has
a
high
or
low
probability
of
being
a
deal.
If
it
looks
like
a
deal
you
may
already
have
an
appointment
to
see
the
property
and
if
you
don't
you
should
call
and
set
up
an
appointment
as
soon
as
possible.
If
it
has
a
low
probability
then
you
want
to
call
the
seller/agent
and
give
them
a
low
verbal
offer
just
to
make
sure
you
didn't
miss
anything.
If
the
property
is
unlisted
and
it's
not
a
deal
then
you
may
want
to
refer
the
property
to
a
good
agent
you
have
a
relationship
with.
If
it
is
not
a
deal
do
not
proceed
any
further
or
do
any
more
due--diligence
because
your
probably
wasting
time
if
you
do.
o Map
the
Comparable
Properties
within
the
After
you
have
selected
the
best
after
repair
value
comparables
you
will
want
to
map
them
within
the
MLS.
Most
MLS
multiple
listing
services
allow
agents
to
map
the
comparable
sales
to
make
it
very
easy
to
see
the
distance
between
v1.0
r09012015
Deal
Analysis
&
Appraisal
Checklist
the
comparables
and
the
subject
property.
This
also
makes
it
very
easy
to
drive
the
comparables
when
you
are
doing
your
field
appraisal.
o Select
the
Best
Off
Market
Comparable
Sales
If
you
are
just
pulling
comparables
using
the
MLS
you
will
also
want
to
look
for
properties
that
sold
within
the
last
six
months
that
were
not
listed
by
a
Realtor.
There
are
many
websites
you
can
use
to
pull
off
the
market
sold
comparables
like
that
pull
in
tax
assessor
sales.
Most
MLS's
also
have
an
area
within
the
system
to
pull
tax
assessor
sales,
which
would
include
both
listed,
and
properties
that
sold
that
were
not
listed.
o Fill
out
the
"Comp
Evaluator"
to
help
you
determine
the
ARV
Fill
out
the
"Comp
Evaluator"
which
you
can
download
from
the
Mastery
site.
The
"Comp
Evaluator"
is
a
guide/checklist
to
compare
and
contrast
the
different
elements
of
your
subject
property
with
the
elements
of
the
3
to
4
best
comparables.
You
can
use
it
purely
as
a
guide
or
you
can
get
more
detailed
and
even
make
dollar
value
adjustments
for
differences
in
the
properties.
This
will
help
you
determine
the
properties
"After
Repair
Value."
o Start
Filling
Out
The
"Repair
Estimator"
Fill
out
the
"Repair
Estimator"
that
you
can
download
from
the
Mastery
site.
The
"Repair
Estimator"
is
what
you
will
want
to
fill
out
when
you
are
estimating
the
repair
costs
on
a
property.
Review
the
information
you
gathered
from
the
seller/agent
about
the
property
and
start
filling
out
everything
you
know
about
the
property
from
the
information
you
gathered
and
the
pictures
you
have
if
any.
o Fill
out
the
"Deal
Analyzer
for
Flips"
Enter
a
couple
different
purchase
price,
repair
costs,
and
ARV
scenarios
into
the
"Deal
Analyzer
for
Flips"
that
you
can
download
from
the
Mastery
site.
That
way
you
can
start
to
dial
in
the
most
you
will
be
willing
to
pay
for
the
property
and
what
your
opening
offer
will
be.
You
may
choose
to
use
the
"Repair
Estimator"
within
Realeflow
opposed
to
printing
a
paper
o Create
an
Investment
Summary
This
is
an
optional
step.
On
the
"Repair
Estimator
Plus"
a
document
you
can
find
on
the
Mastery
site
we
have
a
tab
to
create
a
one
page
Investment
Summary.
We
use
this
doc
to
present
the
deal
to
a
potential
lender.
It
just
makes
it
easier
for
a
lender
to
review
the
deal
quickly
because
all
the
information
is
on
one
page.
o Print
Out
All
Comparable
Package
Documents
Take
all
information
&
documents
you
have
assembled
in
Stage
1
and
Stage
2
and
put
together
a
Comparable
Package.
A
comparable
package
is
something
you
can
take
with
you
when
you
go
evaluate
the
subject
property
and
the
comparable
properties.
Your
comparable
package
includes
1)
Seller
Lead
Sheet,
Agent
Lead
Sheet
and
or
MLS
Listing
Sheet
2)
Tax
Assessor
Property
Card
3)
Map
of
MLS
Comparables
4)
MLS
Comparable
Property
Listing
Sheets
5)
Off
Market
Comparables
6)
Comp
Evaluator
7)
Repair
Estimator
8)
Deal
Analyzer
for
Flips
9)
Investment
Summary
o Save
All
Documents
to
the
Realeflow
or
Dropbox
Save
your
comparable
package
documents
into
the
documents
section
of
Realeflow
or
to
Dropbox.
o Print
Tax
Assessor
Property
Card
or
Assessors
Field
Card
Most
Multiple
Listing
Service
databases
have
tax
assessor
data
built
into
the
database
where
you
can
pull
up
online
assessor
property
cards
/
field
cards.
You
use
this
information
to
verify
what
the
seller
or
agent
told
you
about
the
property
over
the
phone.
If
you
don't
have
access
to
the
MLS
in
your
area
you
can
call
the
tax
assessors
office
and
ask
them
if
they
have
an
online
website
where
you
can
access
property
information
about
properties
in
the
area.
We
use
this
information
to
pull
our
comparable
sales
in
this
stage.
On
the
property
card
you
will
usually
find
information
like
owner
info,
tax
assessment
info,
property
characteristics,
sales
history,
mortgage
history,
and
sometimes
listing
history.
is
a
company
that
often
provides
this
information
to
Multiple
Listing
Services.
v1.0
r09012015
Deal
Analysis
&
Appraisal
Checklist
STAGE
3
?
FIELD
APPRAISAL
o Make
Sure
You
Have
Contracts
&
Disclosures
When
you
are
going
to
meet
with
a
seller
or
an
agent
make
sure
you
have
contracts
and
disclosures
that
you
bring
with
you
so
you
can
write
up
and
offer
or
sign
a
contract
at
the
appointment.
o Drive
by
the
Subject
Property
to
Confirm
ARV
Before
your
appointment
time
drive
by
the
subject
property
to
get
a
feel
for
the
property,
the
lot,
location,
exterior,
etc
so
you
can
confirm
what
the
ARV
(after
repair
value)
of
the
property.
o Drive
by
the
Comparables
to
Determine
ARV
Before
your
appointment
time
drive
by
the
comparable
sales
to
get
a
feel
for
the
property,
the
lot,
location,
exterior,
etc
so
you
can
confirm
what
the
ARV
(after
repair
value)
of
the
property.
You
should
also
take
outside
pictures
of
the
comparables
so
you
have
them
for
your
records.
o Walk
Through
Active
Listing
Comparables
(Optional)
If
you
have
time
and
you
have
set
an
appointment
you
might
want
to
walk
through
1
or
2
Active
Listings
that
are
comparables
if
they
are
in
the
neighborhood.
This
gives
you
a
good
feel
for
what
prices
properties
are
currently
being
listed
at
in
the
neighborhood.
o Fill
out
the
"Repair
Estimator"
on
Paper
or
in
Realeflow
Continue
filling
out
the
"Repair
Estimator"
starting
with
the
exterior
to
confirm
what
you
believe
the
repair
cost
is
going
to
be.
If
you
are
meeting
with
the
seller/agent
you
will
want
to
walk
the
property
with
them
to
make
sure
you
have
an
accurate
repair
cost
before
making
an
offer.
Some
people
prefer
to
bring
their
laptop
and
fill
out
the
repair
estimator
in
Realeflow
on
site.
o Utilize
"Inspection
Checklist"
if
Necessary
If
you
are
relatively
new
to
estimating
repairs
at
a
property
and
using
the
"Repair
Estimator"
utilize
the
"Inspection
Checklist"
on
the
Mastery
Site.
It
is
a
great
system
you
can
follow
to
know
exactly
what
questions
you
need
to
ask
yourself
and
answer
as
you
walk
a
property
in
order
to
estimate
the
repair
cost.
It
is
also
very
useful
to
utilize
on
a
second
walk
through
once
you
have
gone
to
contract.
o Meet
with
the
Seller
or
Agent
Make
sure
you
always
walk
the
property
with
the
seller
/
agent
first
before
you
start
negotiating.
If
you
are
walking
the
property
by
yourself
make
sure
you
have
the
lockbox
information.
o Adjust
your
Offer
If
Necessary
If
you
find
the
repair
cost
to
be
much
higher
or
lower
you
will
want
to
adjust
your
opening
offer.
o Sign
Purchase
&
Sale
Agreement,
Addendums,
&
Property
Disclosures
If
you
are
meeting
with
a
seller
you
will
most
likely
want
to
make
your
offer
in
person
at
the
appointment
and
then
sign
the
Purchase
and
Sale
Agreement
and
any
Addendums
to
the
Purchase
&
Sale
Agreement.
Also,
have
the
seller
fill
out
all
the
appropriate
Property
Disclosures.
If
you
are
meeting
with
an
agent
you
may
choose
to
write
up
an
offer
at
the
appointment
or
when
you
get
back
to
your
office.
If
the
offer
is
accepted
you
would
then
sign
contracts
and
disclosures.
o Discuss
Access
Always
discuss
with
the
seller
or
agent
how
you
will
want
to
get
access
to
the
property
while
you
are
in
escrow
so
you
can
create
your
scope
of
work,
gather
contractor
quotes,
and
show
potential
buyers
if
you
are
wholesaling.
o Take
Detailed
Pictures
and
or
Video
of
the
Subject
Property
Before
you
leave
make
sure
you
take
detailed
pictures
and
or
video
of
the
subject
property.
These
pictures
will
help
you
start
creating
a
"Scope
of
Work"
and
or
marketing
materials
if
you
are
going
to
wholesale
the
property.
o Update
the
Property
Record
in
Realeflow
Update
the
Realeflow
"property
record"
with
additional
details
about
the
property
after
you
go
to
contract.
Make
sure
in
the
"Notes"
section
you
document
any
conversations
you
have
with
the
seller
and
or
agent
during
escrow.
v1.0
r09012015
Deal
Analysis
&
Appraisal
Checklist
o Save
Contracts/Disclosures
to
Realeflow
or
Dropbox
Save
the
signed
contracts
&
disclosures
into
the
documents
section
of
Realeflow
or
to
Dropbox.
o Make
Sure
You
Have
Contracts
&
Disclosures
When
you
are
going
to
meet
with
a
seller
or
an
agent
make
sure
you
have
contracts
and
disclosures
that
you
bring
with
you
so
you
can
write
up
and
offer
or
sign
a
contract
at
the
appointment.
v1.0
r09012015
................
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