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Updated almost 2 years ago, 01/24/2023

User Stats

42
Posts
21
Votes
Heeyeon Chung
21
Votes |
42
Posts

Seller refusing to provide financials

Heeyeon Chung
Posted

Happy New Year, BP Community! 

I am currently under contract for a 14-unit MFH property. I was told that the seller is old (in her 70s) and both the seller's broker and her attorney are having a hard time getting things done because she is all paper-based. 


The problem is, the seller is refusing to provide any rental history or financial information (it's been a week now), and the seller's broker is not returning my realtor's calls or messages. Her attorney also declined our request to do our due diligence including an inspection. 


Before going under the contract, the broker shared a rough estimate of the income and expenses but now we are finding that there are no supporting documents.  We do like the property because of its location and potential re-development possibility. What would be the best way for us to resolve this problem? Please share any insights! Thank you! 

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