Seller with due diligence

[Jason Hudson]

Is it a normal practice for a seller to require you to be under contract before they will provide any type of due diligence you ask of before even making an offer? Seller won’t provide financials or anything whatsoever (not even the rent roll) unless I’m under contract first. Thank you

[James Hamling]

@Jason Hudson it's become a normal practice now in various MFH deals now for data protection and because of the swarm of wholesalers pretending to be valid buyers just to tie up a property and, without approval, pump out that information all over the place. 

A non-refundable EMD is not normal in a non-disclosed PA. 

Do you not have an agent? Your agent should have fantastic command of all the contracts in such a deal, and know all the caveats and conditions to such. When I write a PA on a commercial deal we generally have a dozen or so conditions in the PA as it relates to Due Diligence, a failure of any allow rescinding/ backing out and refund of EMD.

I highly recommend to NOT do any commercial transaction without a well experienced agent in specifically commercial deals. There is a lot more ways to get f'd over in commercial deals then residential.