What is due diligence process for commercial real estate purchase?
Due diligence is a process that the buyer has to go through before and during the purchase process. It’s depth and duration depend on the property or the project complexity. Buyer needs to start from setting an initial goal that the purchase has to meet. Further, the buyer needs to asses the feasibility of the purchase based on the property’s location, market situation, physical condition of the property, expenses associated with the property purchase etc. Common duration for the due diligence period is anywhere from 30 to 90 days, however it needs to be negotiated to the buyer’s needs.