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The CRE Humor Jokes

Due Diligence Says Clean, Surveyor Brings a Snorkel

Broker: Clean deal, minimal hair Due diligence: Phase I plume, roof older than my Excel model, T-12 vs rent roll = multiverse, 0/17 estoppels returned šŸ˜µā€šŸ’« Lender: Just need updated ALTA, PCA, SNDA, and proof the parking lot isn't a wetland Client: Can we close Friday? Me: Sure, if time travel was in the PSA Expectation: 6.5% cap; Reality: cap trap and a raccoon in Unit 104 demanding TI šŸ¦

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Due Diligence Jenga: One More Estoppel And We're Out

Broker: LOI signed, PSA clean, we're cruising Lender: Need fresh estoppels, SNDA, ALTA, Phase I that says 'no vibes,' and a 1.35 DSCR in a 1.10 world šŸ˜µā€šŸ’« Buyer: Underwrote at 6.25% cap; Seller heard

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