What if a seller lies about their income statement?

Question

How can we be sure that the numbers we are given are accurate? Can we ask for a third party audit? Is this common practice?

Robert Leonard · Answer

@Eric Lee The best way is to do your own due diligence and to not assume anything. Run the numbers from the perspective of what you think you can do with the property and go from there.

Eric Lee · Answer

Thanks for the info Robert. Makes sense.

What if a seller lies about their income statement?

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