Due Diligence Docs Before Walkthrough

[Daniel M.]

Before a walkthrough and before signing a contract is it appropriate to ask the seller of a small multi family for:

1. Rent Roll

2. Property Tax Bills

3. Utility Bills (last 12 months) (landlord pays all utilities)

4. Income & Expense Statements (summary)

5. Lease Agreements (Sample or Overview)

6. Recent Maintenance Records (summary)

7. Capital Improvements Summary

[AJ Satcher]

I think asking these questions are well within reason. Especially if the seller wants to boast how amazing of a property this is for you to purchase, this would be the time to brag about the rents, how well maintained the property is, how great the tenants are, and so on...

Hopefully the seller has been organized and is able to get this information to you quickly. If they delay or are hesitant to give up some of this info, it could be an indicator that the property isn't as good as they say.