LOI/ Purchase Agreement before viewing a property?
I was recently sent details about a 20-unit apartment complex that I’m interested in, but the seller's asking price doesn’t align with the numbers I’ve run. I reached out to the individual marketing the deal to schedule a property viewing, but they’re asking for proof of funds (which I expected) and a signed purchase agreement or LOI.
Is this normal? It feels premature to sign a purchase agreement without agreeing on a price or even seeing the property. I’ve only been given the information the marketer provided, and some of those numbers appear inflated. Has anyone else encountered a situation like this?