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Write short-answer responses for each of the following requirements in a paper totaling between 700 and 1,400 words:

  • Estimate the fair market value of the property you selected in Week Two using the two different techniques described in the following: 
    • Take the average value of the comps you obtained for the property. 
    • Use the asking price of the property and ask the real estate professional to estimate the eventual selling price of the property.
  • Share at least one additional technique to determine the fair market value of a commercial or residential property. 
  • Assume you have determined that you want to acquire the property. Develop at least three strategic plans as to how you might acquire the property. Share the pros and cons of each strategy.

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