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HOME PAGE SECONDARY
MARKET INVESTOR DILIGENCE CONSTRUCTION
PROGRESS INSPECTIONS |
Inspections
for Secondary Market Investors
– RESG provides the unique variety of on-site due diligence tasks that
typically respondsto the investor's secondary mortgage market
acquisition needs. Even when the Seller's Loan Summary data
and in-file information is comprehensive, it is often outdated.
The investor should
communicate his particular collateral concerns and modify the scope of
work accordingly. The portfolio may
include loans that are either; performing, performing under stress,
performing
post
modification, or non-performing. RESG's goal is to provide
timely on-site underwriting observations to the investor during a
relatively short contingency period. On-site data must be either
verified, or exceptions communicated, quickly. RESG's inspector
is a multi-disciplined real estate professional with non-performing
loan management experience. His ability recognize and report on
the current material strengths and weaknesses of the collateral is a
critical component to this triage underwriting process. It should
be noted that the quality of this particular acquisition diligence
reporting is directly related to the investor’s scope of work,
the loan data made available, level of access to the property and
interface with the property manager. The primary focus of the Inspection will be on the Property’s current physical occupancy, condition and its level of competitiveness in market. All observed property characteristics such as; deferred maintenance, off-line units, recent capital improvements, TI improvements in progress, tenant distress and leasing activity will be reported. The inspector will estimate the overall level of property management diligence observed on the inspection date. The Subject's most
desirable tenant amenities will be noted along with material economic
impacts from the neighboring land uses, if any. The
inspector the most competitive properties in the area and will
estimate the Subject's competitive set in it's market. This Inspection Report will be prepared in RESG's modified CMSA / MBA Standard Inspection Report format and the addendum will include: photos (limited to accessible areas) pertinent inspection exhibits, and sub-market data when available. The Report will be transmitted to the investor via email within the specified time period. |