In a contract, "time is of the essence" means you'd better get a move on because failure to meet a deadline becomes a breach.
While valuing potential investments, there's not usually a contract in question yet. But time remains of the essence in today's market. With so much money available to investors and, often, relatively few properties in the chase, those who hesitate are left without a deal.
This is why a growing number of companies have entered the proptech space with offerings to bring big data and the type of artificial intelligence algorithms called machine learning to help quicken the pace of valuations.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
