Navigation

Site Acquisition Due Diligence

 

 

GENERAL

This program describes the due diligence required to identify and purchase an appropriate and cost effective parcel of land or developed property for all types of healthcare facilities. Our team of professionals will deliver the best options for your new facility or purchase & renovation options for an existing developed property. This program outline defines a land purchase example.  The program takes into consideration location, acreage, zoning, site conditions, utilities, improvements, local covenants, conditions & restrictions, and the proposed design of the facility. 

 

PROGRAM

Site Identification and Configuration

  • Based on the size of the facility, and the project budget several sites are located in the areas identified by the Owner 
  • Identify asking price for the site 
  • Determine utilities availability 
  • Determine that the zoning is appropriate for the healthcare facility  
  • Determine the flood zone classification for the property 
  • Determine if a Special Use Permit will be required 
  • Identify road access and determine if a median cut will be required in divided highway

 

Due Diligence

Precision Constructors will perform all due diligence required to learn the present and historical conditionsof the property in order to complete a purchase. This due diligence is extensive but here are several examples of the tasks required: 

  • Select a local Survey company and coordinate a new American Land Title Association (ALTA) survey of the property for issuance of title or mortgage insurance 
  • Obtain Letters of Availability from all required utility providers 
  • Obtain all local Covenants, Conditions and Restrictions and architectural requirements from the appropriate architectural review board 
  • Determine all easements and encroachments on the property  
  • Obtain information on local buffer requirements at the perimeter of the property 
  • Determine the required right of way size at all surrounding streets
  • Determine the parking calculation requirements from the local Building Department and coordinate the development of a Plat of the property
  • Attend rezoning or special use permit hearings if required
  • Recommend a local Civil Engineer and develop the civil engineering contract
  • Coordinate a contract with a local testing company to perform soils examination and subsurface geotechnical exploration and testing
  • Determine if there are any wetlands on the site
  • Coordinate a Phase I Environmental Site Assessment and a Phase II Environmental Site Assessment if required by the results of the Phase I Assessment 

 

Contract to Purchase

Precision Constructors will advise you every step of the way in order to help make the best and most informed decision to purchase a property.