Find the mistakes on your side of the table
The errors that recur in underwriting are cheap to fix while the model is still yours and expensive once a lender has found them. This runs your finished deal against the ones that keep happening.
Small errors that produce confidently wrong totals
None of these look like mistakes once the model is built. That is exactly what makes them worth a check — they do not announce themselves, they just quietly move a number you are about to defend.
- Suites named after the propertyTwo suites sharing a name is how rent and square footage start being attributed to the wrong one, and how a total ends up right-looking and wrong.
- Rent that does not reconcile to its scheduleIn-place rent that disagrees with the suite's own stepped schedule means one of the two was edited and the other was not.
- Dates that cannot be rightAn expiry before a commencement, a lease that ends before it starts, a term that does not match the dates bracketing it.
Deal audit
6 checks · 3 findings- CheckSuite named after the property
Suite 250 is recorded as “Riverbend” rather than a unit. Two suites share the name.
- CheckRent does not reconcile to its schedule
Suite 200 in-place rent is $8.40/SF; the stepped schedule reaches $8.40 in month 14.
- NoteNo replacement reserve
The expense stack carries none. A lender will underwrite one whether or not the OM does.
The NOI line is where the expensive ones live
Most audit findings cost you an awkward email. The ones about which side of the NOI line a cost sits on cost you the valuation, because NOI is what the price is derived from.
A roof replacement booked as an operating expense understates NOI, and at a 7% cap rate every $10,000 misplaced moves the supportable value by roughly $143,000. Recurring maintenance parked below the line does the same thing in reverse, and that one flatters you — which is the direction nobody checks.
The audit reports and you decide. Plenty of models legitimately carry no replacement reserve because the buyer handles it separately, and a tool that refuses to continue on a judgement call is one people learn to click past.
Finding it yourself is a correction. Finding it late is a credibility problem.
The cost of one of these errors is not the error. It is what it does to every other number you presented alongside it.
- Run it before the package goes outA lender who finds a reconciliation error in your rent roll starts checking the rest of it, and that is a much slower conversation.
- Everything traces to a documentBecause the model was built from your leases and statements, a finding points at the source it disagrees with rather than just flagging a cell.
Deal audit
6 checks · 0 findings- PassSuite naming
Six suites, six distinct names, none matching the property.
- PassRent reconciles
Every in-place rent matches its suite's stepped schedule for the current period.
- PassExpense classification
Capital items and the replacement reserve sit below the NOI line.
Questions people ask
What does the deal audit check?
Your own model, against the mistakes that recur: suites named after the property rather than the unit, in-place rent that does not reconcile to the suite's own stepped schedule, dates that cannot be right, expenses sitting on the wrong side of the NOI line, and missing items a lender will expect — a replacement reserve being the usual one.
Is this checking the seller's numbers?
No. That is a different check. This one runs against the model you built, which is the one you are about to send to a lender or a partner. The stated-versus-derived cap rate check is the one that examines what the seller claimed.
Why does a suite named after the property matter?
Because it usually means two suites share a name, and once they do, rent and square footage start getting attributed to the wrong one. It is a small error that produces confidently wrong totals, and it is almost invisible once the model is built.
What does an expense on the wrong side of the NOI line do?
It moves NOI, and NOI moves the valuation. Capital items and reserves belong below the line; operating expenses belong above it. Putting a roof replacement in operating expenses understates NOI and the value it supports — and putting recurring maintenance below the line overstates both.
Does it block me from continuing?
No. It reports, and you decide. Some findings are deliberate — plenty of models legitimately carry no reserve because the buyer handles it separately — and a tool that refuses to proceed on a judgement call is a tool people learn to ignore.
Where this goes next
Stated vs derived check
The one that examines the seller's claims instead of yours.
Lease abstraction
Where the dates and rents it checks came from.
CapEx vs OpEx
Which side of the NOI line a cost belongs on.
What is NOI?
The figure these errors move.
All capabilities
Everything else the product does.
Find errors before your lender does
The job this capability exists for.
Check your own model first.
Build the deal from your documents, then run the audit before the package goes anywhere. It reports what it found and points at the source it disagrees with. Free plan, no credit card.