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Buyer asking me for too many things during due dilligence

Erica Muller Orlando, FL

November 14, 2018

I hear this often from sellers. One thing to understand when selling your vacation rental is that if you are selling it as an investment opportunity you will attract investor clients who are typically more prepared and do more research than residential buyers. It's common for the buyer to ask for: 
Your rental history
Your future booking information
Your expenses for the last 2-3 years
Links to your calendars 
Contact information to your property managers 

and much more. 

This is the nature of investment real estate. 

Comments

heather b. Huntsville, ON

Nov 17 2018, 04:51 PM

I created a non-disclosure agreement (NDA) since we had a few competitors looking at the investment opportunity.

Alanna S. Larkspur, CA

Nov 14 2018, 09:07 PM

I just sold my vacation rental home in Lake Tahoe, California. Although a very strong market I opted to do all of my due diligence reports up front. This included the pest inspection and home inspection. I was able to give this information to the buyer along with invoices of work completed so that I was able to negotiate a final number up front. It worked out great, I received an offer and the buyer closed in two weeks all cash!


Tyann M. Saint Louis, MO

Nov 17 2018, 04:59 AM

That's incredible, Alanna! I hope my sale goes as smoothly!

Matt M. , CA

Feb 11 2019, 10:11 PM

Wow Alanna! That's great, really if every seller did the same thing 99% of sales would go smoothly (assuming the lender doesn't botch it up!)

Matt Malouf

Author-Adventurepreneur