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223(f) Template
Complete?Task NamePriorityNotesAssigned ToKey Dates
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1
-Due Diligence
    
2
-Investment Pro-Forma Summary
    
3
-Pro-Forma
    
4
Update Pro-Forma
    
5
CAPX Study
    
6
Loss to Lease Study And Double Check Current Rent Roll Vs. GPR (Make Sure Fees Are Not Double Counted)
    
7
Payroll Anaylsis Including Burden
    
8
Property Tax & Escrow Analysis
    
9
Developer Investment Summary
    
10
-Sellers Property Files to Provide to Buyer
    
11
Current balance sheet
    
12
Copy of past 3 years audits
    
13
Previous 3 Years P&L Detail Including CAPX (Can Be By Year) & Trailing 12 Month (Broken Out By Month With Total)
    
14
Current Year Budget P&L
    
15
Current rent roll & occupancy with fees broken out (if included)
    
16
Unit Mix (# of each type, SF, asking rent, max rent net of utility allowance, & AMI designation)
    
17
Copy of most recent utility allowance adjustment
    
18
List of all Tenants with Section 8 Vouchers
    
19
Standard Tenant Lease Form
    
20
Current Market Survey
    
21
Contact Information & General Summary
    
22
Copies of Current Tenant Leases & Copies of Tenant Files (Make Available On-Site to Buyer)
    
23
Listin of current on-site employees (part and full time, thier titles and duties) and compensation packages including bonsus structures
    
24
Utility Bills for past 12 months
    
25
List of significant capital expenses / improvments by description and cost.
    
26
Existing as-built (ALTA or other) surveys
    
27
Existing Phase 1 Environmental Site Assessments
    
28
Copy of LURA (long term use restriction agreement)
    
29
Schedule of Personal Property to Be Included In Sale
    
30
Other Files
    
31
-Management & Compliance
    
32
-GP & LP Relaitonship
    
33
Partnership Agreement with Limited Partner (distributions schedule is key component)
    
34
-LURA
    
35
Review LURA In Detail
    
36
-Physical & Rehab
    
37
-Pictures, Etc.
    
38
Pictures
    
39
-Rehab
    
40
Rehab estimates
    
41
-Third Party Reports
    
42
Physical Needs Assessment
    
43
Appraisal
    
44
Rent Comp Study
    
45
Survey
    
46
Insurance Quotes
    
47
Utility Study
    
48
Engineering Report (Plumbing)
    
49
Pest Study
    
50
Moisture Study
    
51
-Purchase & Sale
    
52
-Purchase & Sale Agreement
    
53
Letter of Intent
    
54
-Purchase & Sale Contract
    
55
Structure closing date to capture as close to a full month of debt free operations as possible
    
56
-Title Commitment
    
57
Order Title Commitment
    
58
Review Title Commitment
    
59
-Purchasing Entity & Investors
    
60
-Investing / Purchasing Entity
    
61
Organizational Chart
    
62
Letter of Intent
    
63
Firm Commitment
    
64
Operating Agreement
    
65
Business Entity Documentation
    
66
-Financing
    
67
-1st Position Debt
    
68
Term Sheet
    
69
Letter of Intent
    
70
Firm Commitment
    
71
Estimated Sources & Uses With Closing Costs
    
72
-Questions / Research
    
73
Operations
    
74
-Physical
    
75
Is Property Fully Sprinklered?
    
76
Drainage or Water Penetration Issues?
    
77
-Financing
    
78
Can Sewer/Water Costs Be Reduced By Conservation Methods?
    
79
What soft money is available?
    
80
-Other
    
81
When is closing in relation to assessment date?
    
82
PILOT Opportunity?
    
83
-Other
    
84
File Dump (Other DD Files)
    
85
+223(f) Loan Process
    
138
+Asset Management
    
186
+Unfiled Documents