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When a property owner decides to sell, the financial statements that accompany the offering are often the bridge between the seller’s intentions and the buyer’s confidence

A tidy, precise, and well‑organized set of statements can accelerate the sale, lessen negotiation friction, and enable the seller to secure the best possible price

Below is a practical guide to preparing those financial statements, from the basics of what to include to the nuances of tax and regulatory compliance

1. Understand the Audience

The first step involves determining who will view the statements

Potential buyers span from individual investors and homebuyers to institutional lenders and real‑estate investment trusts (REITs)

Even though the core information is unchanged, the depth and format might differ

For instance, 名古屋市東区 空き家 売却 a real‑estate developer seeks detailed cash‑flow projections, while a private buyer may concentrate on historic rent rolls and maintenance costs

Tailor the presentation to meet the expectations of your target buyer group

2. Gather Core Data

Accumulate the following key data sets, ensuring you have records spanning at least the last 12–24 months

Purchase price history along with major capital improvements

end dates, escalation clauses, and security deposit balances

- Operating expense records: utilities, property taxes, insurance, property management fees, repairs, and capital reserve contributions

- Mortgage statements and loan amortization schedules, if applicable

Tax returns—both property and income—for the last few years

Insurance policies and any claims history

- Any pending litigation or zoning issues

Having a complete data set reduces the risk of surprises during due diligence

3. Choose the Right Statement Types

You must create at least three essential statements for a property sale

- Income Statement (Profit & Loss) – Shows operating income, expenses, and net operating income (NOI)

Balance Sheet – Offers a snapshot of assets, liabilities, and equity at a specific moment

Cash Flow Statement – Depicts cash inflows and outflows, particularly useful for buyers assessing financing options

Additionally, consider including a Rent Roll Summary, a Capital Expenditure (CapEx) Log, and a Tax Summary

These additional documents enable buyers to explore further without overloading them with raw data

4. Build the Income Statement

Begin with gross rental income: total rent collected during the period

Remove vacancy and credit losses: estimate a realistic vacancy rate (typically 5–10% for commercial properties; 2–5% for residential) and any bad‑debt write‑offs

3. Deduct operating expenses: utilities, taxes, insurance, maintenance, property management, marketing, and any other recurring costs

Compute Net Operating Income (NOI): the figure remaining after operating expenses but before debt service and taxes

Subtract any debt service (principal and interest payments)

Add or subtract any non‑operating income or expenses (e.g., sale of equipment, one‑time legal fees)

Reach Net Income: the figure that reflects profitability after all costs

Display the income statement in a clear, columnar format with amounts in the primary currency

Insert footnotes for any unusual items or one‑time expenses

5. Build the Balance Sheet

Assets:

- Current assets: cash, accounts receivable, security deposits held in escrow

Fixed assets: property's fair market value less accumulated depreciation (include the depreciation schedule if the property is depreciable)

- Other assets: intangible assets such as leasehold improvements

Liabilities:

Current liabilities: accounts payable, accrued expenses, and short‑term debt

- Long‑term liabilities: mortgage balances, deferred tax liabilities

Equity:

Owner’s equity: purchase price, retained earnings, and any capital contributions

Ensure that assets equal liabilities plus equity

Provide a brief narrative explaining significant items, such as pending appraisals or lease renewals

6. Create the Cash Flow Statement

Separate the cash flows into three categories

- Operating activities: cash from rents, less operating cash outflows

Investing activities: cash used for capital improvements, purchase or sale of ancillary assets

Financing activities involve mortgage payments, new debt issuance, or equity injections

Display how cash balances shift over the reporting period and spotlight any periods of negative cash flow that could alarm buyers

7. Build the Rent Roll Summary

Enumerate each tenant, lease start and end dates, rent amount, escalation terms, security deposit, and any other special clauses

Highlights:

The current occupancy rate

Distance to lease expirations

The rent growth trajectory over time

A clear rent roll can reassure buyers regarding income stream stability

8. Create the CapEx Log

Provide a chronological list of all major capital expenditures in recent years: roof replacements, HVAC upgrades, parking lot resurfacing, etc.

For each entry, note the cost, date, and purpose

Buyers often use this to assess future maintenance needs and to calculate the replacement reserve

9. Summarize Tax Information

Provide a concise tax summary

Property tax assessments plus payment history

Income tax returns, if the property is held in a corporate structure

- Any tax credits or incentives, such as low‑income housing credits or energy‑efficiency rebates

If the sale is expected to be a gain, add an estimate of capital gains taxes

This helps buyers factor potential tax liabilities into their offer

10. Ensure Accuracy and Consistency

Cross‑check all figures across the statements

For instance, the net cash inflow from the cash flow statement ought to reconcile with changes in the balance sheet’s cash account

Use a spreadsheet to automate these checks and flag discrepancies

11. Add Narrative Explanations

While figures represent part of the story, narrative context can offer clarity

Details:

Reasons why expenses spiked (e.g., a costly roof replacement)

Lease renegotiations that altered rent schedules

Market trends that affect rental rates

A well‑written narrative can pre‑empt buyer questions and demonstrate transparency

12. Format for Readability

Use a simple, professional layout