Intelligent Real Estate Due Diligence
"...Ensuring a property is 'ready for sale' is ... crucial in challenging economic times... [and leads to] material improvement in transaction times and transaction costs...avoids nasty surprises for either party"
"Readiness for Sale" Investment Property Forum
The IREDD Methodology
The IREDD approach maximises the value of existing due diligence information generally across market sectors.
Work with clients legal team to review legal structures and identify and analyse relevant risks in order to ease and expedite real estate transactions
Use of "A" rated investment grade insurance to capitalise on existing real estate due diligence so that it can be relied upon by all parties regardless of who it was prepared for
Assess legal structures being adopted - conventional structures may not always be appropriate or necessary and may give rise to additional costs
Use conventional insurance to provide security of income if possible (ie business interruption/consequential loss) not guaranteed by conventional means
Use insurance arrangements to reinforce the legal structures and provide greater financial security
Saves costs and time
For all parties – developers, purchasers, funders etc:
Minimises the repetition of conventional due diligence processes
Increases the security and liquidity of real assets by using appropriate insurance solutions offered by the insurance markets
Example transactions include:
A single property of any size
A portfolio of properties, whether of the same type or varied
Dealing with distressed asset and debt portfolios
Corporate transaction and group restructuring
Infrastructure and renewable energy assets
Click here for more information on the IREDD specialty broker approach
Traditionally insurance brokers are solely remunerated by receiving a commission from the insurer with whom the business is placed. Insurers pay variable rates of commission to attract business from brokers.
As a specialist legal indemnity brokerage and insurance service, IREDD works closely with its clients and their other professional advisors to ensure, prior to any proposal being submitted to insurers, all relevant commercial legal and insurance issues are taken into account. Proper presentation of risks to insurers expedites and enhances the underwriting process for the benefit of the client and is critical to obtaining an acceptable offer of insurance.
Where appropriate, we reserve the right to charge a fee to compensate us for the work we do on the client’s behalf because we believe that it is fairer and more transparent for us to be paid a fee for our service in these circumstances rather than rely solely on commission.
We will agree any such fee with the client at the outset and usually this fee is only payable upon an acceptable offer of insurance being received. Our fee is in addition to any commission that we receive from the insurer.
Click here to view our standard terms of business.