A real estate salesperson is representing a buyer interested in purchasing a plaza containing several retail units. The buyer is concerned about existing leases and their impact on future income. What specific document should the salesperson arrange for the buyer to review to understand the terms and conditions of these leases?

Question: A real estate salesperson is representing a buyer interested in purchasing a plaza containing several retail units. The buyer is concerned about existing leases and their impact on future income. What specific document should the salesperson arrange for the buyer to review to understand the terms and conditions of these leases?

Answer options:

• The property's historical utility bills.
• A standard Agreement of Purchase and Sale for commercial property. ✅ Estoppel certificates and copies of the existing leases.
• The building's architectural drawings and blueprints.

Correct answer: Estoppel certificates and copies of the existing leases.

Explanation: When purchasing an income-generating property like a commercial plaza, it is essential to review estoppel certificates and copies of all existing leases. Estoppel certificates provide a snapshot of the current lease terms as acknowledged by both the tenant and landlord, which is crucial for due diligence in commercial transactions.