Rental Property Investor · Los Angeles, CA · Member since 2015 · 29 posts · 19 votes
The escrow attorney, chosen by the buyer, asks for the cost basis in properties I'm selling, basically how much I've invested in them. I've never heard this question before from an Escrow lawyer and I'm wondering: what if I refuse to answer? My price is my price, and the lawyer shouldn't care what the price is or what I've invested in the improvements.
Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
6y
If I was buying your investment property, I would expect a full accounting off all your expenses, @Maggie W. Going back at least 2 years. I have a right to know that issues you've claimed to address (e.g. replacing a water heater) were actually done.