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Updated almost 6 years ago on . Most recent reply
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Self Storage- Difficult Seller
Hey BP I am running into a problem that I'm sure MANY of have already dealt with. I am looking to purchase a self storage facility but am having a difficult time finding the unit mix. I had to sign an NDA to get the information released, however it does not have the unit mix on it. I spoke with the listing agent about it and he said that he is not sure about the mix and that the owners are difficult to get information from.
So I called the facility to try and find out some more info.
She told me they have:
5x5
5x10
10x15
10x20
But she would not tell me how many of each or give me any sort of breakdown whatsoever of the mix.
How do I get around this?
Am I allowed to go to the property to try and figure out the mix myself?
I am not sure what I am legally allowed to do after signing the NDA.
I would love any form of advice or tips you guys have
Thanks!
Most Popular Reply
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Many facilities guard this. You may not know that detail until after the contract is written. Write in for a due diligence period that allows you to escape the deal if you don't like the mix. In fact, the due diligence clause should be kind of vague, except for the duration.