Agent

Selling apartments means turning over rent roll, expenses

What else are prospective buyers entitled to know?

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DEAR BOB: We are trying to sell our $3 million, 48-unit apartment complex and have tried to get unbiased information from the state real estate commission, the state board of Realtors and the association of Realtors. We want to know what the typical financial disclosures are for this type of sale. None of the agencies would tell us anything. Every prospective buyer seems to want a rent roll, income and expenses for the last three years, property taxes and more. But we aren't comfortable complying with these requests. What are the customary disclosures expected of the seller before a purchase offer has even been produced? --Elaina C. DEAR ELAINA: I'm sure when you acquired the property you asked for the information you specified above. You would have been a fool to make a purchase offer without knowing the basic income and expense information, rent roll, etc. Purchase Bob Bruss reports online. After you accept a written purchase offer from a buyer, he or she usually incl...