Have lockdowns made virtual due diligence of assets an acceptable practice? Chris Anderson looks into the matter, finding the technology has kept the real estate investment industry going during the COVID-19 crisis.
Technology had been used to varying degrees by the industry in the build-up to the pandemic, but Avinav Nigam, COO of IMMO Capital, believes its widespread adoption was overdue. IMMO Capital was already offering virtual tours to tenants of its properties before 2020, which Nigam says makes processes far more efficient for everyone involved. The virtual tours offer a high-quality immersive experience. And by adding other information, such as local amenities and parking facilities, IMMO Capital can inform the customer’s decision to a much greater degree. At the same time, other tools allow everything from credit checks to document submission to be carried out online.
“Sellers can also carry out a self-inspection, using an app with 280 data points, which g
