Real estate due diligence in the Netherlands
Real estate due diligence in the NetherlandsUpdated on Wednesday 09th September 2015
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Real estate due diligence in the Netherlands implies all the operations for obtaining and analyzing information from legal, technical, ecological, economic points of view necessary for the proper conduct of a real estate transaction. In specific activity, due diligence is done by obtaining and analyzing documents of ownership, the study of specific legislation or permits required to achieve a real estate transaction.
Since real estate due diligence procedure involves phasing and prioritization of the beneficiary’s priorities, in practice, the issue is often discussed in abstract notions (for example the partner's credibility identified by the beneficiary, clarification and understanding of the rights and obligations that affect property) to concrete concepts, exemplifying the physical condition of the property.
An analysis of the physical condition of the property usually includes a report on the functionality of the good in order to assess the building's maintenance investments, which would have an impact on its value. Foundation, structural frame, roof, infrastructure, water supply, drainage, the electric and gas, and other associated utilities, vertical transport and tire construction are just some elements that contribute to the understanding of the physical and technical condition of the building. Such analyzes are useful both to negotiate the cost (price) associated with a property, and financial planning.
For each real estate project that is intended to be purchased or exploited, real estate due diligence in the Netherlands is recommended. This procedure also includes analysis of possible difficulties in the acquisition or operation of that real estate good, for example operation or administration of real estate, obtaining approvals, zoning permits and building permits, property titles, regulatory and contractual matters, land exchanges, specific disputes and many others legal particularities.
Real estate due diligence in the Netherlands is also recommended as the acquisition of property requires prior rigorous verification of the legal status of the property that will be purchased. It can also be provided a full and detailed investigation of the legal regime of the building so that it can be assessed the risks of acquisition. A real estate due diligence contract in the Netherlands also includes professional advice in legal terms in the negotiations, drawing up and checking the terms of the acquisition.
The lawyers involved in real estate due diligence in the Netherlands also provide a complete guidance in construction projects in order to secure the client's contractual position in relation to other participants in the project, in any stage of project implementation, starting with the design, contract execution, and reception and operation.
When you need real estate diligence in Netherlands, count on our experienced team specialized in real estate law, real estate and estate litigation due diligence. Contact us for further details and information.