LIST OF ITEMS REQUIRED TO UNDERWRITE (The need for items #9-12 will vary according to each situation)
1. CURRENT RENT ROLL including:
SF of units - Lease abstract details such as: Escalations, commencement & expirations, add-ons, description of tenant, Descriptionof any added rent that the tenant is responsible for (In addition three years of historical data would be ideal)
2. COMPLETE INCOME/EXPENSE STATEMENT on the property including:
Annual property taxes - Insurance Water/Sewer Fuel Electricity Maintenance/Repairs Management CAM Leasing commissions, tenant improvements
3. COMPLETE, DETAILED PHYSICAL DESCRIPTION along with SITE PLAN or Property Survey.
4. IF ACQUISITION, PROVIDE COPY OF FULLY EXECUTED CONTRACT OF SALE.
5. IF REFI, PRICE ORIGINALLY PAID FOR PROPERTY, date of purchase and summary of current financing.
6. PHOTOS, if available.
7. SUMMARY OF CURRENT FINANCING (refinance only) including:
• Current lender• Current principal balance• Current interest rate • Current monthly payment• Due date • Prepayment penalty information
8. INFORMATION ON MANAGEMENT COMPANY, IF SEPARATE FROM OWNERSHIP.
9. CURRENT PERSONAL FINANCIAL STATEMENT (where applicable) (If you do not have a recent accountant prepared financial statement, please click here for a pdf form)
10. CURRENT BUSINESS FINANCIAL STATEMENT (where applicable)
11. LAST TWO (2) YEARS’ PERSONAL TAX RETURNS (where applicable) 12. LAST TWO (2) YEARS’ BUSINESS TAX RETURNS (where applicable)
13. PERMISSION TO RUN CREDIT REPORT(S): Please print the CREDIT REPORT AUTHORIZATION pdf file. (Please make
copies for each individual in the case of a corporation or partnership, complete and fax back to 800-776-0338