In a June 9th article on Law360.com, Simon Adams comments on the challenges commercial real estate investors face when seller are requiring prospective buyers to undertake due diligence in ever shortening time frames.
Among the four methods is locating pre-existing surveys and documents, which can be substantial time and money savers for prospective buyers. The idea, says Simon Adams, “is to understand from the seller team at the outset what current due diligence documentation is available from historic reports and to identify those consultants that are often very willing to work with the buyer teams to reproduce their reporting with an update.”
A prospective buyer can avoid delays in finding property consultants by utilizing the knowledge of contractors and consultants already familiar with the property. “This is particularly helpful if a buyer is in need of engineer survey work or other technical information,” Adams said.
The text of the full article can be found here.