The tasks of the investor in preparing the sale include performing Vendor Due Diligence [VDD].
A Vendor Initiated Due Diligence gives the real estate vendor an up-to-date and realistic idea of his property. It also demonstrates to the real estate buyer that there is a willingness to provide timely information as well as a willingness to sell.
The VDD items comprise:
- All items in the Investor Due Diligence (IDD)
- Documentation for the Buyer DD (data room)
- Information from the vendor to the buyer.