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Updated almost 6 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Harrisburg, PA
20
Votes |
77
Posts

Things to ask Seller of multifamily

Account Closed
  • Rental Property Investor
  • Harrisburg, PA
Posted

Hello All, 

I am trying to purchase a 5 unit in PA. I had requested the following information from the seller.

1) Annual property operating data for the last 12 months.

2) Current rent roll

3) Past rent roll for 12 months.

The sellers agent came back and said- nope! 

The seller apparently doesn't have that information and told me to just go through the information provided on MLS. What would you do in such a situation.

Also, I am new to multifamily purchasing.

What documents do you absolutely need from the seller before making an offer on the property?

Thanks!

Most Popular Reply

User Stats

386
Posts
271
Votes
Greg Scully
  • Rental Property Investor
  • Johnson City TN
271
Votes |
386
Posts
Greg Scully
  • Rental Property Investor
  • Johnson City TN
Replied

@Account Closed - We requested a schedule E and occasionally get it.  You are correct, expenses reported on a Schedule E may be significantly different than a P&L.

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