1031.Exchange INTELLIGENCE NETWORK
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TRANSACTION & CLOSING

Offering memorandum

Also called: OM · investment sales package · offering memo

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PLAIN-ENGLISH DEFINITION

A marketing document summarizing an investment property, its financials, market story and transaction terms.

What it means in practice.

An OM is generally seller- or broker-prepared marketing material. It should be verified against leases, financial records, title, physical inspections and other diligence.

Why it matters.

It is a starting point for underwriting, not a substitute for diligence.

Additional notes.

An OM is generally seller- or broker-prepared marketing material. It should be verified against leases, financial records, title, physical inspections and other diligence.

CONNECTED LANGUAGE

Related definitions.

Transaction & ClosingDue diligenceThe investigation of a property, transaction and counterparties before closing.Real Estate UnderwritingRent rollA property schedule listing tenants, units, rents, lease dates and related occupancy information.Real Estate UnderwritingT-12A trailing twelve-month operating statement showing recent property income and expenses.
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