Buying Commercial Building - what to ask for?

[Joshua Kaufman]

I'm looking to purchase my first commercial building and am in the process of narrowing it down and making the short list of which properties to pursue. My question is what do I ask for from the seller in terms of documentation and paperwork so I can determine if it's the right opportunity?

I've been reading different threads and have come up with the following so far:

- Rent Roll and leases (leases should answer the question below)

- Two years of utility bills (water, sewer trash) and who pays them. 

- Financials: tax returns, P&L, bank statements. 

- Three years of CapEx and Repairs.

- All permits/inspections for any work done.

- List of problems with the buildings (doubt there would be complete honesty here, but worth asking).

- Insurance policy.

If anyone has anything else to add, I'd love to hear it.