Workflow Templates: Property Acquisition Due Diligence Checklist

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Property Acquisition Due Diligence Checklist

Legal and Compliance

Review current zoning compliances and potential rezoning risks or opportunities

Conduct a title search and obtain title insurance

Check for any existing liens, easements, covenants, or other legal restrictions

Financial Assessment

Audit previous years' financial statements and tax returns

Review current leases and assess rental income stability

Analyze local market conditions including supply, demand, and rental rates

Physical Inspection

Hire a professional inspector to assess structural integrity and building systems

Evaluate the condition of the roof, foundation, and building envelope

Check for environmental hazards like asbestos, mold, or soil contamination

Operational Review

Assess the current property management company and any staffing contracts

Review utility and service contracts for potential cost-saving opportunities

Evaluate the need for immediate repairs or maintenance and the associated costs

Tenant Relations

Review tenant leases for terms, conditions, and any upcoming expirations

Understand the tenant mix and any exclusive rights or restrictions

Gather feedback from current tenants about their satisfaction and needs

Market Analysis

Research comparable properties in the area to assess market positioning

Analyze demographic and economic data relevant to the property's market

Identify trends that may affect property value or rental demand

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