The Investment Property Forum (IPF) has issued a new edition of “Readiness for Sale” - A Guide for Streamlining Commercial Property Transactions. The first edition was published in 1996 and was a response to concerns that had been raised about the liquidity of the real estate market. The guide was intended to be a step towards eliminating some of the problems that delay property transactions such as inadequate or unavailable management information and missing title deeds. In effect it recommended preparing a pack for sale that incorporated all the legal and management information from the outset.
The IPF recognises that liquidity remains an issue exacerbated by the cost and time involved in undertaking transactions. Property in the UK continues to represent approximately 7%-8% of the total investment market (by value). Because the current market sees prices being renegotiated and funders become increasingly selective on assets and their sponsors, the IPF believes that it is even more crucial that a property is ‘ready for sale’.
The new edition of the guide contains a key steps flowchart for both an asset and a corporate acquisition and a readiness for sale checklist, useful for co-ordinating the relevant materials and information. Both the guide and the checklist are available at the IPF website: http://bit.ly/KQHFyI