Real Estate Technical Due Diligence in North America (Hi from the UK!)
British Technical Due Diligence surveyor here! 


I recently started work for a large real estate firm and I have a Building Surveyor background, not actually having done much TDD work before. I'm also aware that Building Surveyors don't really exist outside of the UK and Antipodean countries so other professions may act in their place abroad.


* My question is does TDD in North America work the same as in UK and the rest of Europe?


* Is the role the same or is varied?


* What profession undertakes TDD surveyors and reports? 


* Does North America recognise the Royal Institution of Chartered Surveyors (RICS) qualification? Is it well esteemed and regarded like in the UK?


We act for purchasers and vendors of assets, largely representing institutional investors, investment funds, developers etc. for literally any type of building. 


We do a building survey of structure and fabric, highlighting any liabilities within, say, a 10 year period and attribute likely costs to keep in repair. With the assistance of solicitors, we'll go through the leases to identify liabilities as well as review any building warranties. This enables a prospective purchaser, occupier or financier of the property to make an informed assessment of the risks associated with the transaction from a technical perspective.


My team covers EMEA and curious to know about the market further afield.


Thanks!
[{"id": "irfcrzj", "text": "Very different with some similarities, they don\u2019t work with lawyers here to look at lease liabilities for example.", "replies": [{"id": "irfi2qk", "text": "Thanks, interesting to know. \n\nWhen I say work with them, it's they're on the end of an email to answer any questions we have. We review the lease and have a surveyors understanding, not a solicitor understanding. It's important to understand repair responsibility, demise and service charge costs.", "replies": [], "depth": 2}], "depth": 1}, {"id": "irfe8yr", "text": "I run across a handful of guys from the UK who do TDD work all over the US. I\u2019m in the Bay Area and you see the same handful of guys depending on the form you contract with for the due diligence work. These guys primarily focus on what you stated above with the exception of reviewing lease and vendor contracts, they stick to the physical diligence. Companies like Faithful &amp; Gould, Gardiner &amp; Theobald, Turner &amp; Townsend, Corbus, ERM etc.. that\u2019s where people with a similar background tend to show up from the UK.", "replies": [{"id": "irfk79y", "text": "Thank you for your reply. That's really interesting to know that you guys use British TDD surveyors. Is that because the role doesn't exist in the US in the same form? Or the Brits do a better job for instance? Yes, familiar with those firms. Mine is larger but not aware of us covering the US just yet. Ty", "replies": [], "depth": 2}], "depth": 1}, {"id": "irhfr8y", "text": "Most Due-Diligence on commercial transactions is handled by firms which employ architects or other specialty engineers to asses the condition of the asset. Most commonly you see that as a Property Condition Assessment report which is actually based on an ASTM standard. Those reports are the baseline document along with other consultants to help investors analyze the deal. Usually that will include attorneys and if the transaction anticipates major capital projects additional due diligence for that future work outside of existing physical condition. \n\nMost US based investors will have no concept of any UK based designations. \n\nI assist on a lot of pre-acquisition due-diligence assignments so happy to answer any additional questions if needed.", "replies": [], "depth": 1}]