How to use the Property Pipeline Offer Tool

Inside the Property Pipeline tool in your REI BlackBook account you can easily draft up offers to submit for the properties in your pipeline. The offer form in the pipeline has fields to fill out to include all the information needed for each offer. To draft of an offer for a property in your pipeline follow the instructions below. 

  1. After logging into your REI BlackBook account, from your account's Dashboard click on Deals and select Property Pipeline from the drop down menu.
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  2. Select the property that you want to make an offer by clicking on the property address in the list of properties in your Property Pipeline. You will click directly on the address to access the details of that property. 
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  3. Once you are on the property details, click on the Offer tab.
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  4. Fill out the form with the information needed to make an offer. The following information is requested on the form. 
    1. Seller: This field is used for the seller's name; This is a required field. 
    2. Buyer: This field should automatically populate with your name, since you are submitting an offer. This field can be edited if needed; This is a required field. 
    3. Amount: You will list the amount you offering to purchase the property for; This is a required field.  
    4. Expiration: A date will be listed here, and this is the date the offer will expire, and will no longer be valid; This is a required field. 
    5. Additional Property Description:  You can add additional details about the property you are making an offer on in this field; This is a required field. 
    6. Down Payment Amount: If a down payment is being made it will be listed in this field; This is a required field. 
    7. Lender: The person or company who if providing the financing for the purchase will be listed in this field; This field is required. 
    8. Loan Amount: If the money being used to purchase the property is being financed the loan amount will be listed in this field; This field is required. 
    9. Loan Period: The length of the loan will be listed in this field; This is a required field. 
    10. Closing Costs Paid By: Whoever is responsible for paying the closing costs will be listed int his field; This field is required. 
    11. Inspection to be Conducted By: Whoever is going to be performing the inspection of the property will be listed in this field; This field is required. 
    12. Personal Property that is Part of the Sale of the Overall Property: If personal property was negotiated or will be negotiated into the sale of the property it will be listed here; This field is optional. 
    13. Repairs Owner Agrees to Pay For: If the owner has agreed to make repairs, or repairs are being requested of the owner to completed all repairs will be listed in this field; This field is optional. 
    14. Closing Date: You will list the closing date of the property in this field; This field is required. 
    15. Disputes Will Be Resolved By: If the owner and you can not come to agreement during the process you will list the person or company who will resolved the disputes in this field; This field is required. 
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  5. Once all the fields that are required have been filled out, click the Save button. This will save the details of the offer you submitted for the property. 
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  6. It will then be added as a file under the Offer tab.
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  7. Click on the download icon to view a printable version of the document. The document will include all the details you filled out, and there will also be places for the buyer (you), and the seller to sign once the offer has been accepted. 
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  8. You can make edits to the offer after you initially complete the form. To edit the offer, click on the icon.Screen_Shot_2019-03-09_at_00.02.39.png
  9. If you decide not send the offer you can delete the offer for this property. To delete the document, click on the trash bin icon.Screen_Shot_2019-03-09_at_00.02.39.png
  10. You can update the status of each offer, so you know the status of each offer made. To update the status of the offer click on the drop down menu of *Set Offer Status. There are four different status types available; Contract Out, Accepted, Expired, Rejected. Once you have selected the status of the contract it will be updated under the Status column in the Offer tab.
     
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  11. In your Property Pipeline the status of the property you just created an offer will be changed to Under Contract after the details of the offer have been saved. This allows you to easily see which properties you have submitted offers on from the list of your properties without having to go into the property details of each one. 

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You now can easily draft up offers to submit for properties in your Property Pipeline. If you have any questions or concerns about the information above please contact us at support@reiblackbook.com

 

 

 

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