We’re Doing Our Due Diligence, Are You?November 1, 2018 Commercial Development
Make no doubt about it, the real estate industry is BIG business! Every day there are billions of dollars invested and exchanged, and owners and developers are buying, selling, leasing, and refinancing properties at an accelerated pace.
The transactional process of real estate investment is complex. Starting with the initial pursuit of a particular piece of property all the way up to the point that final closing documents are signed, the process poses challenges that can make or break a potential property transaction. Owners and developers should understand the risks and opportunities associated with their real estate investment.
One of the fundamental steps in the process of evaluating a real estate investment is due diligence. Questions to ask include: Are there zoning issues? Environmental concerns? Are there any building deficiencies or issues identified by a survey of the property? The list goes on. Identifying these items early in the process can greatly impact a potential deal, and those who incorporate the due diligence process are being wise with their investment dollars.
Tools for success
Westwood’s team of surveyors, engineers, and environmental scientists are experts in the field of due diligence. With over 45 years of experience, we’ve seen it all. Over the next several weeks, we’ll be discussing various topics related to due diligence. Members of our leadership team will be sharing with you their thoughts, ideas, and stories related to due diligence with the goal of providing you with valuable information that will ensure your next real estate investment opportunity is successful.
Let’s face it: there will always be challenges associated with every real estate transaction, but investing early in the process helps to mitigate the deal breakers. Which begs the question – We’re doing our due diligence, are you?
Not all real estate investments require the same due diligence. With over 45 years of experience, Westwood’s team can identify what is needed and customize a due diligence package to fit your specific project. View our infographic to learn more about how we can help.