Lender request price paid

We have sold our park, buyer is acquiring financing. The lender wants to know what we paid for the park when we purchased it 2 years ago and the improvements we have made. Do we need to give the lender the price we paid? If not, how do you politely tell them it’s none of their business without blowing the deal?

The price you paid is public record although at times can be misleading on commercial properties because sometimes some of the purchase price is allocated to personal property.

It sounds like the lender just might not be comfortable on how to value. I would tell them the price. Tell them how you have improved park. How you spent so much $ and now the park is stabilized and easy peasy.

I think telling them “no” will raise a red flag on their end. Especially since they aren’t savvy enough to know they should be able to find this info out with a phone call.