Why Documents Speed Up Your Sale

A motivated investor buyer with financing ready can close in 30–45 days — but only if the conditional period goes smoothly. The conditional period is where most duplex sales slow down or fall apart: the buyer is waiting for document verification that the seller should have ready before listing. Having a complete document package ready from day one signals professional management, reduces buyer uncertainty, and gets conditions removed faster.

The 12-Document Package

1. Both unit lease agreements (current signed copies). 2. Rent payment history for last 12 months (bank statements showing deposits, or a formal ledger). 3. First/last month deposit receipts and confirmation of amount held. 4. Building permit for second unit (with completion certificate). 5. MPAC property assessment showing property class (confirm it's assessed as a duplex or two-unit). 6. Last 24 months of utility bills (hydro, gas, water). 7. Last 24 months of property tax bills and receipts. 8. Current insurance certificate showing duplex coverage. 9. Capital improvement receipts for past 5 years (roof, furnace, electrical, windows). 10. Any outstanding correspondence with tenants (repair requests, notice of entries). 11. Any LTB-related correspondence or applications (disclose proactively). 12. Prepared income statement showing gross rents, expenses, and NOI.

How to Prepare the Income Statement

Present your income and expenses clearly: Gross Annual Rent: $XX,XXX. Vacancy Allowance (5%): −$X,XXX. Property Taxes: −$X,XXX. Insurance: −$X,XXX. Maintenance and Repairs (actual, 3-year average): −$X,XXX. Net Operating Income: $XX,XXX. Implied Cap Rate at Asking Price: X.X%. Buyers will verify this against your utility bills and tax bills — accuracy is essential. Inflated income statements that don't survive due diligence kill deals and destroy trust.

Documents You Should Not Provide Until Accepted Offer

Tenant full legal names, unit-specific utility account numbers, full first/last month deposit details, and any sensitive tenant information should be provided under a signed offer and NDA where appropriate — not posted publicly or given to every showing agent without commitment from the buyer.