REM 500 Lecture Notes - Lecture 5: Due Diligence, Title Search, Endangered Species

• School: Ryerson University
• Department: Real Estate Management
• Course: REM 500
• Professor: Cynthia Holmes

Document Summary

Stage 2 of the development process: idea refinement. In the idea refinement stage, further investigation is done to build on the knowledge from idea inception. Key objectives in the idea refinement stage: site due diligence, market research, preliminary negotiations, finalizing the project specifications, complete financial analysis. The work from this stage will be brought together in a report for executive approval and external parties like investors and lenders. This report is the feasibility study (stage 3: due diligence related to the site. This due diligence accomplished by a site visit and online resources. Some revealed by phase i environment, others through title search mostly by research/investigation. New developments need to access existing infrastructure and/or determine whether the local municipality will provide sufficient capacity. Roads, schools, fire, police, water, electricity, sewer, storm drainage, etc. Developer may have to absorb some cost. Besides physical chars and infrastructure, gain knowledge about the location. Quality of the surrounding structures (residential and commercial)