Requesting Financials (IC) Flashcards
Response: The gross income for the building is about $X.
Okay, so based on the expenses of roughly x, your net income, after expenses, is roughly y, correct?
Response: Yes, that sounds about right as far as the net income I am receiving.
Great! And you had mentioned you were looking for x price, correct?
Response: Yes, x price is an amount I would consider selling for.
Okay, great!! Would you be able to share some more detailed financials with me so I can get our best offers in front of you?
Response: What more regarding financials do you need?
If you could send me a T-12 or a PNL statement covering the last 12 months, I’ll be able to get a much better idea of what my partner and I can offer you for the property. This could eliminate the chance of you receiving an offer, contingent upon review of all financials, and later finding out that the original offer price cannot be supported by the performance of the property.
Response: Okay, well I can send you some more detailed financials if you need them.
Okay, great! And by when do you think you can have those financials sent over to me for review?
