Income Property - Documents to Verify before you buy

[Joey Adair]

Hello,

I am getting ready to purchase my first income property. It is going to be a 4-unit multifamily home. As a mortgage lender, I have a generic list of documentation needed to be verified before I can determine how much a borrower can qualify for. Example: Last two years tax returns, W-2's, paystubs, bank statements, mortgage statements.. etc.

My question is, can you share a generic list of documents you would verify by the seller before you will remove contingencies? like, lease agreements, proof of receipt of rental payments for the past 6 months, recent repairs, recent upgrades.

As you can see I can think of some but since I am new and I work off checklists, it would be great to know what the experts are doing.

Thanks in advance!

-Joey