The real estate conversion process is when the rental property is converted into a tenant-ownership where all tenants together create a housing cooperative which acquires the property. It is initially profitable for the tenant to proceed with the process but not always for the housing cooperative. The purpose of the study is to examine the information and calculations which lay the foundation of the financial rapport in the conversion process.   This study emanates from the question: How well do calculations in the financial plans actually match the outcome several years later? We have investigated how well the calculations are correct and how they reflect the actual result from the housing cooperative. The study is based on a selection of financial plans and annual reports from housing cooperatives which have undergone a real estate conversion between 2013 - 2015. The study shows that the conversion advisors have the tendency to beautify the numbers in the calculations. To lower this risk the process consists of several steps where approval from independent sources, which lowers the asymmetric information in the market and between parties. Further, the study showed that real estate conversions, where calculations have knowingly or not knowingly been altered and approved by Boverket, shows a knowledge gap in the market. We conclude that the calculations in the financial plans rarely match the real outcome.