The “key” elements of the transaction are explored first and usually, the most intensively.The buyer should provide the seller a comprehensive disclosure statement and include a term in the purchase agreement that obligates the seller to return the document within 5 days of acceptance.Professionals are hired to complete Phase 1, 2 & 3 reports that identify potential or existing environmental contamination and all other elements of elements that are difficult for the buyer to effectively evaluate.Financial Checklist3 years profit & loss statementsRent roll with space number, name of resident, move-in date, renter or owner occupied, number of occupants, monthly rent, additional charges, current balance due and any relevant notes about the residentList of capital expenditures for the last 3 years3 years of tax returns12 months of bank statementsCurrent accounts receivable statementList of park owned home including copies of “rent to own” or sales contractsCopy of all current insurance policies, binders and premiumsSpreadsheet detailing who pays all utilities including water, sewer, gas, electric, trash, cable, etc…For all utilities and charge backs, formulas, calculations and meter readings for the past 12 months3 years of utility billsProperty tax bills for the last 2-3 yearsCurrent staffing list including position, wages, job descriptionsCopies of any contracts that will transfer to buyer including laundry, trash, phone, equipment, etc…Dates and amounts of the last 3 rent increasesSigned rules and leases for each residentNames and contact information of professional service providers including lawyers, accountants, engineers, insurance brokers, inspectors, appraisers, realtors/brokers, etc…Physical ChecklistSpreadsheet for utilities that details age, composition, capacity, physical locations, etc…Any drawings or maps of the park and infrastructure including lot sizesSewer plant or septic system repair and maintenance recordsWater well tests and compliance recordsDisclosure from seller of current or recent problems with infrastructure including buildings, water, sewer/septic, gas, electric, etc…Names and contact information of contractors including plumbers, tree surgeons, electricians, gas inspectors, septic companies, roto-rooter services, etc…Locale ChecklistProfile local housing market:“Stick-built” – current foreclosure rate, months of available inventory, median home price, average rent per month, vacancy rateApartments – average rent per month, vacancy rate, prevalence of move-in specials…MHPs Comps – average monthly charges (rent, utilities, etc…), vacancy rate, # of homes for sale, etc…Profile local economy including population, major employers, unemployment rate and trendsCopies of city, county and state permits, licenses or certificates of occupancyCheck zoning for recent or pending changes to target property and adjacent parcelsCheck for known environmental issues with target property, adjacent parcels or in the communityCheck for major development or construction projects in the communityReview existing surveys or environmental reportsConsider geographic factors including elevation, annual snow fall, rain fall, proximity to bodies of water, etc…Disclosure from seller of current or recent lawsuits, regulatory or compliance issues, fines, fees, etc…

Lenders are overwhelmed with the volume and they don't have the capacity to work on the number of loan requests.

I am looking forward to participating in the video call in an observer/learner capacity.

It happened to me too, but after a while when they get to know you and your capacity, they wont care 

Banks are increasing rates and fees because they are over capacity on refis, and Fannie Mae increased the guarantee fee they charge to lenders.

Scott Gottlieb, former head of the FDA, to companies in the NYSE.US will soon have massive testing capacityConfirmed cases will grow exponentially now that testing is finally getting rolled outDon't be surprised to see 1000 confirmed cases in a dayBy the end of April to early May, it will start to plateau (depending on containment behaviors that we are currently living)Schools will be closed for this school yearThe summer heat in the northern hemisphere will help to contain the spread, although it will continue to existEvery reason to believe that the southern hemisphere will experience rapid spread as the weather cools (expect continued travel restrictions)The risk posture will improve in the Fall with the following:Point of care diagnostic (local swab testing everywhere - will allow early detection)Therapeutic antiviral drugs will be available (not a vaccine)Monthly injections of an antibody will be available (not sure what this is), particularly for medical workers and members of nursing homesThe testing capabilities that are getting put in place will provide a massive surveillance system to provide early detection until a vaccine is in placeAll of this will make the virus more manageable until we have a vaccineThe virus is very contagious (more than the flu)10x more deadly than the fluEven without death, the hospitalization rate (15%) and critical care rate (5%) are extremely high (we don't have medical capacity without containment)Mortality rate:1% overall4% ages 60-7010% ages 70-8014% ages >801 in 250 to 1 in 550 for some his age (47) - said "that's enormous"He recommended that his parents stay home for a couple of monthsHe also felt that masks should be produced and mandatedThese bullets are subject to my note taking and I am certainly not qualified in this area.

Note this applies only to SBA, it has no affect on conventional loans except as it impacts your leverage ratios and debt servicing capacity.

What advice would you give to do my due diligence and make sure this is a true statement from the listing agent.Any feedback or comments is much appreciated.Thank youYou can verify zoning with the city but just because the zoning allows for 12 units doesn't mean you will be able to fit 12 units on the property as you will have setbacks, lot coverage, parking requirements, etc to take into consideration in terms of site capacity. 

Do I need to have a signed IABS (Information About Brokerage Services) even when not acting in the capacity of agency/brokerage? 

Depending on the purchase amount and closing cost you might need at least  10% save to show you have enough financial capacity to purchase the property.