Hi my wife and I are in the process of buying a property and still after getting our offer accepted the agent (and the attorney) have not given us the rent roll. Is this normal in the process we would like to verify everything before getting the property.
Hi my wife and I are in the process of buying a property and still after getting our offer accepted the agent (and the attorney) have not given us the rent roll. Is this normal in the process we would like to verify everything before getting the property.
Thanks for your help!
@Albert Menendez, I understand your concern, and I think you're right to want to verify everything before buying. It's not unusual for some documents to come later in the process, but I would definitely want to review the rent roll and existing leases before moving forward. I'd ask your agent and attorney when you can expect those documents and whether any deadlines are coming up.
In my experience working with previous clients as a real estate attorney and broker in Maryland, I've seen how important it is to verify rental income before purchasing an investment property. For example, the rent listed on paper doesn't always tell you whether tenants are actually paying that amount, so reviewing the leases and payment records can make a big difference.
I appreciate you bringing this up, @Albert Menendez! It's an important part of buying rental property and something I often discuss with investors. Wishing you and your wife the best with your purchase, and happy to stay connected!