Owner-Occupied Business Checklist
- CURRENT BALANCE SHEET
- LAST 3 YEARS PROFIT AND LOSS (P&L) STATEMENT AND YEAR TO DATE P&L
- COMPLETE INCOME / EXPENSE STATEMENT on the property including:
- Annual property taxes
- Insurance
- Water / Sewer
- Fuel
- Electricity
- Maintenance / Repairs
- Management
- SUMMARY OF ALL LEASES (if any) showing escalations and expirations
- COMPLETE, DETAILED PHYSICAL DESCRIPTION INCLUDING SQUARE FOOTAGE
- IF REFINANCE, ORIGINAL PRICE PAID FOR PROPERTY, date of purchase and summary or current financing.
- IF ACQUISITION, COPY OF FULLY EXECUTED CONTRACT OF SALE
- PHOTOS (at least 5)
- SITE PLAN or property survey.
- SUMMARY OF CURRENT FINANCING (refinance only) including:
- Current Lender
- Current principle balance
- Current interest rate
- Current monthly payment
- Maturity date
- Prepayment penalty information
- FULL DESCRIPTION AND/OR HISTORY OF BUSINESS
- RESUME OF PRINCIPAL / BIO
- LAST 2 YEARS OF PERSONAL AND BUSINESS TAX RETURNS
- COPY OF DEED
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