The battery of 3rd party due diligence reports can be a lot to digest for many involved in commercial real estate transactions. The reports are a veritable alphabet soup: ESA, PCA, PML, ALTA…the acronyms go on and on! Especially for those new to reviewing these reports, it it’s enough to cause a headache. We get a lot of questions such as:
I know what the property use is now, why do I need a Phase 1 Environmental? Why should I worry what the property was 50 years ago?
What happens if the Phase 1 ESA finds something at the property?
What does a Property Condition Report cover that an appraisal does not? How does the information impact my deal?
When do I need to think about seismic risk?
What do I really need to look for in an ALTA Survey or Title Review?
I know what the property is zoned as, why do I need a Zoning Report?
To answer those questions and help alleviate those headaches, Partner is giving a free webinar next Wednesday June 20th on the basic A to Z of due diligence: from ALTA Surveys to Zoning Reports, Phase 1 and 2 Environmental Site Assessments (ESA), Property Condition Reports (PCR), and Seismic Probable Maximum Loss (PML) Reports. Partner’s Thought Leaders Jenny Redlin, REA and Joe Derhake, PE will give a solid overview of what each report covers, why they’re important, and key things to look for.
This webinar will be especially useful for new underwriters, brokers, loan officers, or anyone involved in CRE transactions wanting a better understanding of due diligence reports. We realize that for many in the CRE industry, reviewing and understanding due diligence reports is not your main responsibility and is just a small piece of the puzzle. A piece of the puzzle we can help put together for you.
To register for the Due Diligence 101 webinar, click here.