Real Estate Transaction Diagram

[Josiah Hague]

Hello BP!

I'm looking for visual reference material that would provide an at-a-glance display of at least the essential puzzle pieces to a real estate transaction specifically concerning the entities/parties involved & their role. I've searched around the web & BP for diagrams as one such source. While I've found some interesting methods to display the factors, some may as well be a four dimensional pretzel.

With a more clear picture of all that's involved, I'll work on applying my relationship network to the picture so I may recognize areas which need improvement and/or knowledge gain. This will also assist with determining if there are areas in the big picture which I may personally desire to pursue for licensing.

Once my basic grasp of the picture is more firm, I'll work towards things like sheriff sales, tax sales, county auctions, etc. I am grateful for the time others have invested in this community by way of posting opinions, experiences and questions.

Cheers,

Josiah

[Bill Gulley]

Originally posted by @Josiah Hague:

Hello BP!

I'm looking for visual reference material that would provide an at-a-glance display of at least the essential puzzle pieces to a real estate transaction specifically concerning the entities/parties involved & their role. I've searched around the web & BP for diagrams as one such source. While I've found some interesting methods to display the factors, some may as well be a four dimensional pretzel.

With a more clear picture of all that's involved, I'll work on applying my relationship network to the picture so I may recognize areas which need improvement and/or knowledge gain. This will also assist with determining if there are areas in the big picture which I may personally desire to pursue for licensing.

Once my basic grasp of the picture is more firm, I'll work towards things like sheriff sales, tax sales, county auctions, etc. I am grateful for the time others have invested in this community by way of posting opinions, experiences and questions.

Cheers,

Josiah

Well, if you can only learn visually, following a flow chart, you'll have a problem I'd think.

I thought of attempting to do a flow chart book, for the step by step types, without much thinking involved. 

Turns out, while many variables could be applied, listing all of them is an impossibility. 

This won't even touch on personality traits of buyers or sellers or intrinsic motivations either.

Thought about it, seemed it would print out on 8 1/2 by 11 paper okay, but you'd need about 2,000 square feet to lay it out to follow the stop and go signs to other text. 

Many are trying to build computer models to identify a good deal, until we have artificial intelligence perfected RE is a knowledge game, a social interaction, a boots on the ground thing to verify valuation, condition, location, utility and function, things you can't put in a program, nor could you obtain the property data to input. 

Sorry, it's going to take effort to learn and do your due diligence, there are no easy answers or any step by step formulas. :)