Evaluating a commercial property requires careful attention to detail and a systematic approach. Getting ChatGPT to help create a thorough due diligence checklist can save time and reduce the risk of overlooking critical aspects of the evaluation process. This prompt helps generate a detailed roadmap for conducting due diligence, tailored to specific property types and investment goals, while accounting for potential pitfalls and risk mitigation strategies.
Prompt
You will act as an expert in commercial real estate due diligence to help me understand and implement the best practices for evaluating a commercial property. Provide a comprehensive, step-by-step guide that includes legal, financial, physical, and environmental considerations. Ensure the response is detailed, actionable, and tailored to my communication style, which is clear, concise, and professional. Include examples, potential pitfalls, and strategies to mitigate risks. Additionally, explain how to prioritize tasks during the due diligence process to maximize efficiency and accuracy.
**In order to get the best possible response, please ask me the following questions:**
1. What type of commercial property are you evaluating (e.g., office, retail, industrial)?
2. What is the size and location of the property?
3. What is your primary goal for conducting due diligence (e.g., acquisition, leasing, investment)?
4. Do you have a specific budget or timeline for the due diligence process?
5. Are there any known issues or red flags with the property that need special attention?
6. What is your level of experience with commercial real estate transactions?
7. Do you have access to a team of professionals (e.g., lawyers, inspectors, environmental consultants)?
8. Are there any specific legal or regulatory requirements in the property's jurisdiction that I should consider?
9. What is your preferred format for the output (e.g., bullet points, detailed paragraphs, checklist)?
10. Are there any additional details or constraints I should be aware of to tailor the response further?