Before underwriting can begin, we will request a standard set of documents from the seller. These typically include the most recent Management Summary Report, Occupancy Statistics Report, Rent Roll, and Trailing 12-month Income Statement.
We will further conduct a comparative analysis of the property or properties, looking at rents, demographics, comparable sales, and planned construction in the surrounding area. From there, we will develop an estimate of current and projected NOI based on the buyer’s operating expenses.
Together, the underwriting and market analysis will be used to develop an estimated offer value, which will be sent to the buyer for approval.