Multifamily: What Information do I need before closing?

[Mary S.]

Hi all,

I am buying a six-unit multi-family and I was wondering if anyone has a checklist or a suggestions of information to get before closing from the seller, like phone numbers of tenants, which utility providers the Owner uses etc... What is also standard/realistic to get from the current Owner?

This is what I am thinking so far:

1) Leases and Phone Numbers of Tenants

2) Personal property list

3) Current contracts if, any, for landscaping, trash etc...

4) security deposits

5) Most recent 6 months of bills for water/sewer, gas, and electricity.

Anything else? Thanks in advance!

[Jeff Greenberg]

I don't see tenant applications or current rent roll on your list.  Outstanding work order requests.  I am assuming you have gone through an extensive due diligence list so I am not including it here.