Ideally Seller would hold most of these documents such as utility bills and maintenance agreements, so obtaining them wouldn’t require experts, rather time. The use of experts would not be required to look into any municipal or state violations, citations or orders noticed against the Property.
D. Financial and Tax Matters of the Property
Financial Statements I would like to see current rent collections, past income and expense statements and past operating statements. Ideally, this information would come from the Seller’s accountants. This may take at least a week for the accounting firm to prepare a report.
Tax matters Statements These include copies of all federal, state, and local, income and franchise tax returns filed by Property in recent years. Hopefully either Seller or Seller’s accountants would be able to provide these documents. If not, no experts would likely be needed because I look up this information. Looking up this information by myself would take at least a day, and trying to gain them from Seller or Seller’s accountant could take up to a week, if the documents are able to be located. Further, I would ask to see copies of real estate and assessment tax bills for recent