Due Diligence Checklist
Purchase of Real Estate
I. Tenant Information
Item
Rent Roll
Copy of all leases (including
all exhibits and attachments
and amendments, including
guarantees and subleases)
Financial statements and
credit information and reports
for all tenants and guarantors
Current and historic payment
reports for each tenant
Any executed letters of intent
with prospective brokers
Standard form of lease
Responsible Party
Seller
Seller
Status/Comments
Seller
Seller
Seller
Seller
II. Operating Information
Item
Financial statements for the
property for the past three
years and year-to-date for the
current year
Current operating and capital
expense budgets for the
property
Schedule of capital
expenditures for the property
for prior years
A copy of all service,
maintenance, leasing,
management or other
contracts, and all other
agreements, warranties and
guaranties relating to the
operation, use, management
or maintenance of the
property
Responsible Party
Seller
Seller
Seller
Seller
Status/Comments
A copy of real estate tax bills Seller
(including special
assessments) for the prior
three years
A copy of utility bills for the Seller
prior two years
A copy of all owner’s
insurance policies now in
effect with respect to the
property, including owner
disclosure affidavits,
insurance inspector’s risk
assessment reports and a copy
of any claims under such
policies, and evidence in
seller’s possession that
tenants are making the
insurance coverages required
under their leases
A schedule of employees, if
Seller
applicable, including name,
position, wage and benefits
III. Building Information
Item
Plans and specifications
showing the “as built”
condition of the property
Responsible Party
Seller
Status/Comments
Item
Responsible Party
All environmental reports and Seller
studies in seller’s possession
including soil tests, radon,
mold, lead paint and asbestos
report
All environmental notices
Seller
received by seller from
governing authorities
Status/Comments
IV. Environmental Reports
V. Zoning
Item
Zoning reports
Responsible Party
Seller
Status/Comments
Item
Responsible Party
All licenses, permits and
Seller
approvals for the property,
including, without limitation,
certificates of occupancy for
the building and each tenant
Most recent survey
Seller’s policy of title
insurance for the property
A copy of any notices of
violation
A schedule of all pending and
historic litigation against the
property
Trademarks, brochures and
websites if such intellectual
property is being transferred
A schedule of all furniture,
fixtures, equipment and
supplies attached to, located
in, or used in connection with
the operation of the property
which will be transferred to
the buyer
Status/Comments
VI. Miscellaneous
VII. Buyer’s Diligence
Item
New Survey
Title Commitment
Engineering Inspection of
Building and Equipment
Zoning Analysis
Availability of utilities
Responsible Party
Buyer
Buyer
Buyer
Buyer
Buyer
Status/Comments