Leases Attached to a Purchase Agreement in Commercial RE Deal?

[Joseph Firmin]

Two Commercial Real Estate Multifamily Questions:

1. In negotiation on a commercial multifamily deal and the buyer has requested to annex the leases for the apartment building as an exhibit to the purchase agreement. Seller is willing to provide them in due diligence, but not as an exhibit to the agreement. Is it common to include leases with the purchase agreement, or is this typically done in due diligence, separate from the agreement.

2. The seller was unwilling to share bank statements for the property so that the buyer could validate rent collected. Is it common for a buyer to request bank statements as a way to validate rents? Is there another way? The seller is unwilling to put an amount in escrow to ensure the rent collections are what they stated on financials.  

Thanks in advance!

[Bjorn Ahlblad]

@Joseph Firmin Number 1 is not a problem I would worry about. Number 2 there are other ways to resolve that. Get Estoppel certificates signed by the tenants and LL. Make sure you collect last months rent and security deposits for each tenant who paid them at closing.