Submitting and Receiving financials

[Demetre Dyse]

Hello All,

I was wondering how long does it typically take to receive financials on a Multifamily property and what does the seller or broker look for on the documents before sending their financials?

[Ronan Donnelly]

@Demetre Dyse, it really depends on how organized the seller is in terms of keeping books and records. For below market deals you may well be working with someone who does not have good records. Before sending the financials to you they will see how they compare to the OM/Pro-forma and they will look for anything that sticks out. Exercise caution when looking at the financial statements and be prepared to challenge and verify every single line item. Good luck!