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Updated 4 months ago, 09/05/2024
When to ask for P&L, tenant ledgers, etc.
Hello,
I am looking at a mixed use property on Long Island (first floor retail plus 4 residential above) and would like to know when the most appropriate time is to ask for things like audited financial statements, tenant ledgers and/or anything I else I should be asking for? Is it (a) pre-offer (b) after an accepted offer but before contract signing (c) after contract signing during a due diligence period? I just want to make sure that I am able to fully validate all of the financials and not on the hook/forfeit my deposit if the numbers do not match what's being advertised. Also do not want to scare away the seller. Thank you!