Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated about 6 years ago on . Most recent reply

Advice please: Who is responsible for errors ?
I recently purchased a property in Jacksonville Florida. The transaction had some bumps but we worked things out and closed on time. Later I found the original pro forma provided by the turnkey operator listed the rent at $1105, however upon receiving the current tenants lease it showed a rent of $1005. I based some of my decision based on the financials of the proforma. Who is responsible? Is there anything to do? I’ve left message with the primary contact but haven’t heard back.
Most Popular Reply

- Tax Accountant / Enrolled Agent
- Houston, TX
- 6,007
- Votes |
- 5,125
- Posts
Originally posted by @Patrik Kusek:
I recently purchased a property in Jacksonville Florida. The transaction had some bumps but we worked things out and closed on time. Later I found the original pro forma provided by the turnkey operator listed the rent at $1105, however upon receiving the current tenants lease it showed a rent of $1005. I based some of my decision based on the financials of the proforma. Who is responsible? Is there anything to do? I’ve left message with the primary contact but haven’t heard back.
Disclaimer: I'm not an attorney, so just a layman's opinion. Proforma is basically a "maybe": it does not guarantee anything and therefore nobody is responsible.
Think of it as a profile on a dating site. The person might have those traits and might look like that picture. Or not. Same with proforma.