Proof of Income Please

[Samuel Larger]

I am performing due diligence on my first deal and find out the seller can't/won't prove the income on the property, what now? The seller won't provide bank statements or tax returns and I am unsure to whether rent was actually collected since it was an inherited property.

My offer was accepted with no earnest money so should I cancel the contract before wasting money on an inspection?

Any help or advise would be greatly appreciated, thanks!

[James Wise]

@Samuel Larger unless your getting a commercial loan where the building must show earnings for you to get the loan I don't see why it matters if they did or did not receive rent from this tenant.

If you know the area and the value of the unit in the rental market you don't need to worry about what happened in the past.

Also worth noting that all tenants pay their rent right up until they dont.