3 TIPS FOR MULTIFAMILY DUE DILIGENCE
1. Coordinate and consolidate your site visits – Have your entire due diligence and lender team walk the property and units at the same time.
2. Understand lender requirements and flexibility – If you are obtaining financing, you’ll need to understand not only the requirements of various lending platforms but also what flexibility they might offer due to the unique situation we’re in. Some lenders may be flexible on their financing requirements including amending or modifying the required number of units to be seen or whether they’ll accept virtual site assessments
3. Allow extra time – It’s no surprise that more residents are home right now, and that can require some extra coordination and time to arrange access to the units while maintaining social distancing