By using a vendor report, transaction times can be reduced as any potential issues have been investigated and the findings included within the report.
Vendor reports have become more popular in recent years particularly for larger assets and portfolios. Another advantage of using a vendor report is that it limits the number of parties inspecting the premises. This approach has been adopted by the banking sector disposing of retail branches where security is of paramount importance. Also, where the sale of a property is commercially sensitive, confidentiality can be maintained.