Rent roll discrepancies

[MarieChele Porter]

Hi all,

I am in contract with my first investment property, which is a duplex in Garfield Heights, Ohio. I have just received the current leases and the lease terms are different from what was stated prior to contract. The discrepancies are less about $50/month rent including both units and about 2 months extra term on the lease than originally stated by the seller. I know the discrepancies aren't huge and landlords tend to fudge numbers around the sell, I'm just curious is there anything that can be negotiated through escrow for these discrepancies or is it just buyers choice with due diligence. It also makes me wonder if there are other things that are being hid because of the fudging. FYI the first thing I found fudged was on the MLS it said tenant pays all utilities including water and sewer but on a visit done by my real estate agent he found out that the water is single metered which means the landlord has to pay. I still went on obviously, but now this has come up so I'm just curious will we keep uncovering things of the sort.

[Chris Masons]

Bring up with listing agent and see what they say.. You can always try to knock off a few thousand on the basis of you did your due diligence with what was advertised and now it turns out that that is not the case....

Another option is to say nothing  - right now.... Wait until inspection and ask for a everything to be fixed if they give you pushback you can than bring this up and use as leverage....

At end of the day if it is a good deal it shouldn't be a deal breaker. Does net income of ~ 600 less yearly impact the ROI by more than a .5 of a %?

good luck,

Chris