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Updated over 5 years ago,
Income/Expense Analysis -Verification
Hi everyone and Happy Thanksgiving. I am working on a few deals and wanted to ask, if there was anyway to verify the income that the seller of the property is actually listing in their current income/expense financials?(to a high degree of confidence). I asked for current leases and they were provided, but would it be too much if we ask for Tax schedules? I asked for the latter and it was outright refused, but concerned that leases could be falsified (I have a friend that encountered this and was attracted to high Caps and COC returns, but after purchasing the property, found out the rents were not as claimed, and expenses were much higher). Some state that getting a "certified" income/expense statement is possible, but the certification came from the seller so back to square one - please advise?