Has any buyer of a large Multiunit experienced these demands?

[Laura Renner]

Need your thoughts BP community.

Has anyone being a principal or a Broker Rep experienced these demands from listing broker in order to convey your buyers offer to the seller?  My gut has been since day one that this listing broker has his own buyer and is trying to cut my offer from being seen.

• Proof of funds for the 25% down payment  (this is common, I'm ok obviously with this one)
• More details on the expected debt structure and what lender the buyer would use
• More details on the business model of the investor—things like capex budget, rent growth assumptions, tax adjustment and any other expense variations, etc.
• Broker references from brokers that represented sellers that XXXXXX Investment Group bought deals from in Ohio and/or texas.
• In addition, when we have requested a tour:   Principal of investment group must personally tour the property prior to offer, not a representative of the principal, even if it's someone from the group. 

Love to hear your thoughts before I respond to this Broker. My client are an investment group that made an offer of 95% to asking price for a multi unit in a mid to high crime area with C-D tenants. And this is the response... (that's besides the point, wanting to know if anyone has been asked for these items prior to their offer being shared with the seller)

[Jay Hinrichs]

this is common in the world of commercial real estate.. Most commercial deals are sold by the listing broker.. if its then out to the brokerage community its not a great deal or its a tough to sell prop.

But yes these are all reasonable.. no one wants to waste their time with tire kickers.. and you certainly do not want to either.

only thing I would questions is the on going cap Ex etc.. unless buyer is looking for some seller finance then that would be expected...

this is not the world of phoney wholesalers who have no money trying to flip houses..

In addition with myself and selling my personal product I get into the home buyers lender info.. there are certain lenders I simply will not allow my properties to be tied up with .... I reject the offers.