GuidesCommercial
Commercial purchase: required documents
Purchase offer, leases, income, expenses, work and equity.
The signed purchase offer, with every schedule
Current leases and rent receipts
Income and expenses for the last two years
What the lender asks for first
The lender wants to see the property and its income. Gather these before the first call.
- The signed purchase offer, with every schedule
- Current leases and rent receipts
- Income and expenses for the last two years
- Municipal and school tax accounts
- A list of work done and work still needed
What slows a request down
A missing lease or an undocumented expense stops the review. Check each document before sending.
What each document proves
The offer sets price and deadlines. Leases prove income. Expenses qualify it.
The lender cross-checks all three. A figure alone means nothing without support.
The order to obtain them
- Your personal documents, available right away
- The seller’s documents, requested once the offer is accepted
- The tax account, obtained from the municipality
- The appraisal, ordered by the lender
A realistic timeline
Allow three to five weeks between the accepted offer and the lender’s answer.
That assumes a complete request from the start. Each missing item adds days.
The most frequent mistakes
- Sending photos of documents instead of clean copies
- Providing a lease unsigned by one party
- Leaving out an expense because it seems minor
- Submitting a rent roll written from memory
Each of these mistakes sends the request backward. The timeline grows by a week.
