Extensive list of docs to request for due diligence period
3 Replies
Kusum Chanrai
from San Francisco, California
posted over 3 years ago
Hello! I'm about to sign a contract for my first multi-family property. I'm in the process of having the contract drafted. Does anyone have a best-in-class list of all the documents one should ask to review during the Due Diligence period? There's a basic list in the contract - but I want to make sure I'm not missing anything. Any help would be much appreciated.
Thank you!
Kusum.
Account Closed
replied over 3 years ago
Mihir Bhimaraju
Rental Property Investor from Indianapolis, IN
replied over 3 years ago
@Kusum Chanrai Congratulations! What was your criteria in picking this property? Is there a value add opportunity?
@Account Closed I'm currently looking at multifams and I'd appreciate if you could fwd the checklist to me, as well. I'll send a PM with my email id.
Anthony Dooley
Investor from Columbus, Georgia
replied over 3 years ago
List your documents and add language that says any other documents required by the lender. The lender will mainly need a current rent roll, a trailing 12 profit and loss statement from the property manager, and possibly the schedule E from the seller's tax records.