My property is entering Due Dilligence for a sale and I have no idea what to expect.

My property is entering Due Diligence for a sale and I have no idea what to expect. What reasons have you all seen of a buyer backing out after the due diligence period? We have been doing absolutely everything we can to prepare but I cannot help but feel some responsibility as a PM to properly represent our owner. Our property has faced many challenges over the years and I know I cannot expect perfection, but the stress of preparing for tours and then quickly shifting priorities to closing has been unforgiving, so I am just hoping all of our hard work pays off. Any advice or expectations I should have would be extremely helpful!

Just breathe. I know it’s scary but it will be ok. Main things they are looking at is interior and exterior conditions and that the files are ok. Most companies hire the teams these days. Be helpful to all involved and it will work out.

I’ve been on both sides of due diligence and the most important thing to remember is that you have very little control. Little details are not what they are looking for right now on whether they’re going to purchase, they’re looking at large capital expenses right now. Just breathe and answer only the questions asked of you. It’s going to be ok!
As for being on the receiving end, don’t be discouraged if they don’t purchase. My property went through it a couple of times before it actually closed. It’ll all work out!

Absolutely if they don't see what they like they will back out.

A lot is up to the lender these days and what they feel is fit for the loan request if they aren’t purchasing cash. Which as mentioned is mostly the condition and how the property is performing in income, cash flow and economic occupancy.

Sometimes they use the due diligence to ask for more off the sale price, they did with my owner and the back up offer was off the table as 3 months had already gone by. They ended up taking the less amount. I’ve seen many fall thru for that reason.

Just don’t offer info, only honestly answer their questions

My comment is more of why a buyer may back out, and it has to do with financing or the numbers just not working out to be profitable for the purchaser. Insurance and taxes have dramatically risen in the last few years which makes it harder to meet financial goals. Best of luck to you! Dont stress and keep doing the best you can do every day!

I have been on 20+ takeovers in my career.
If your current company hasn't offered you a firm position "we are sending you here", walk a thin line and consider options fron the othe other company.
If neither company have made any firm offers, get your resume out ASAP.

100%, have your resume ready and consider all options...
New Company- when you meet them, ask them their plans, they know if they are considering you or bringing in their own manager, you have just as much right to find out their plan.
Best case: Try to get an opttion with your company and the new owner and be able to pick what's best for you.
But to Tracy's point, get ahead of it, and worry about YOU