How to Negotiate (BOOK OF THE MONTH)
What principal is this referring to? When a negotiator takes the advantage of the fear of loss.
What is the scarcity principle
Daily double - Earnest money is held here prior to closing?
What is Escrow/Title company
Where was Property Max first office located?
What is Clackamas Oregon
A bank or financial company that lends money to borrowers to purchase a home.
What is mortgage lender
Daily double - How to avoid capital gains tax?
What is live in your home 2 out of the last 5 years
Some negotiators will match exactly what the prospect energy is. If the Prospect is assertive then the negotiator is assertive. If the prospect is playing hardball then the negotiator will play hardball. Another smaller group of negotiators take a different approach. They choose to be more assertive and desire to set the tone, rather than follow it. What rule from the book is this referring to?
What is the 80/20 rule
Larry Childs occupies this property, he doesn't pay rent, he is living there against the landlords wished but has a legal right to live in the home
What is a Squatter
What are the three distress factors we look for when qualifying leads?
What is personal, property of financial distress
I have received this from my lender once the lender has determined I am good to go with buying a house. I will also present this to a prospective buyer when making an offer. What is this?
What is a preapproval letter
What are two ways to pay property taxes?
What is pay at the end of the year or include in monthly mortgage payment
What great leader said this quote. "Let us never negotiate out of fear. But let us never fear to negotiate." - Found in Chapter one of this month's book.
What is John F. Kennedy
List the three top benefits when selling a home to a cash buyer investor
What are the names of Property Max's two mail ladies?
What is Sara and Rylie
What is included in mortgage payments? In this example, there is less than 20% equity
What is Principal, Insurance, Property taxes, homeowners insurance, mortgage insurance
What tax is charged in Washington state at the closing of a sale that is not charged in Oregon
What is Excise tax
BATNA is the acronym for what?
What is Best Alternative to a Negotiated Agreement
An individual or entity that owns a property but does not live there. What is this known as?
What is an absentee owner
How many members of the Property Max team are currently on the inside phone sales team? (not including our Bali guy, including Chris Apekelis)
What is 14
Daily Double - ARM is the acronym for what
What is Adjustable-Rate Mortgage
True or false. You are able to 1031 your primary residence
What is false
The word SOFTEN was used as an acronym in this month's book. Break it down
Ken Robinsons' mother owns her home. She will not be required to make any mortgage payments and can live in the home for the duration of her life. Once she passes away the mortgage lender will take the property back. What is this referring to?
What is a Reverse mortgage
What brand and make of shoe is Jesse Stolz most likely to be wearing on any given day?
What Nike Stefan Jenoskis
The company that handles the day-to-day administrative tasks of your loan, including receiving payments, sending monthly statements and managing escrow accounts. This is different from your mortgage lender, which is the financial institution that gives you a home loan.
What is mortgage servicer
In a 1031 exchange, you have this amount of days to identify and to close on investment property of equal or greater value
What is 45 days to identify and what is 180 days to close