Every review starts with the first leaf: gather. A valuation snapshot takes five business days from complete documents, so the fastest route to a number is a full stack on day one. Send what you have; the memo lists anything missing instead of guessing it.
Which documents each review needs
Required means we cannot finish without it. Helpful means the answer is sharper with it.
| Document | Valuation | Leases | Portfolio |
|---|---|---|---|
| Leases and amendments | Required | Required | Required |
| Rent roll | Required | Helpful | Required |
| Trailing twelve months income and expense | Required | For CAM reviews | Required |
| Current operating budget | Helpful | For CAM reviews | Required |
| Property tax notice | Required | Helpful | Required |
| Loan terms | Helpful | Not needed | Required |
| Site plan or survey | Helpful | Helpful | Helpful |
| Recent capital work list | Helpful | Not needed | Helpful |
| Insurance summary | Not needed | Helpful | Helpful |
| Estoppel certificates | If buying | If buying | Not needed |
Where each document usually lives
Most of the stack is already in an inbox, a binder or a county website.
Leases and amendments
The closing binder, your attorney’s file or the property manager’s tenant folders, side letters included.
Rent roll
Your property manager’s monthly report or your accounting software. Ask for this month’s version.
Trailing twelve months
An income statement from your bookkeeper or manager, month by month for the last twelve months.
Operating budget
The annual budget your manager prepares, or your own spreadsheet of expected income and costs.
Property tax notice
The notice of valuation mailed each April, or the parcel record on your county assessor’s website.
Loan terms
The promissory note and loan agreement from closing, or a recent lender statement showing rate and maturity.
Site plan or survey
The survey from your purchase closing, the original building plans, or the county parcel map.
Capital work list
A simple list of roof, parking lot, mechanical and other major work, with the year and cost.
Insurance summary
The declarations page from your insurance agent, showing coverage, premium and policy dates.
Estoppel certificates
Signed by each tenant at the seller’s request during due diligence; your purchase agreement sets the timing.
Document questions, answered
What if I do not have everything?
Send what you have and we start. The memo lists every missing document and how its absence limits the answer, instead of filling the gap with a guess. Leases are the one item a lease abstract cannot do without. A valuation without a rent roll or income history is narrower, and we tell you how on the scoping call.
Are scans and phone photos fine?
Yes, as long as every page is legible. Scans, photos of signed originals and exports from accounting software all work. Send the rent roll and the income statement as spreadsheets where you can, because every figure gets tied to its source and a spreadsheet saves retyping. An unreadable page is listed as a gap.
Why do you want both the T-12 and the budget?
Because the T-12 shows what the building actually earned and spent, and the budget shows what the manager expects next. The gap between them is where many value questions sit. A budget that assumes full occupancy or flat taxes makes net operating income look stronger than the last twelve months support.
Do you keep my documents confidential?
Yes. Documents you send are used only for your engagement, read by the lead advisor and the second reader, and shared with no one else without your permission. After the engagement ends, we delete them on written request, except anything the law requires us to keep. The privacy policy sets out the details.
What if I am buying the property?
Then the seller’s package is the stack. Ask for the leases, rent roll, T-12 and estoppels as soon as the purchase agreement is signed. An acquisition review takes 7 business days, so the documents need to arrive with enough due diligence time left to act on the memo.
Send the stack, get a quote
On a free 30-minute scoping call we confirm what to send, then quote a fixed fee in writing.