I will point out that on a small build it may not be worth that money because the "test" they do is not a soil sample or boring of the land, it is a research into the property to determine if a laundry facility or auto body shop or some contaminate / polluting type of business or entity was once on that lot a long time ago.

This soil contamination is not likely to be covered by insurance. 

The main problem is if there is a leak and soil is contaminated.

I came across an REO with disclosed soil contamination.  

With raw land, there are only a few questions that you can askSize of land, zoning, any known contamination?

. - Leave untouched as much of the remaining land as possible - both for a greater feeling of privacy and exclusivity for the resort guests and owners, as well as for environmentally responsible development.Pulling all of the expense figures out of thin air, I would pay 125mil for the property.The main concern for due diligence would be environmental contamination from previous activity - both military and research facilities.

Also if the property is older there could be asbestos or other contaminants and then demo can be more expensive because of additional regulations required.  

@Ryan McCoywhat kind of contamination is it listed as super-fund site?

This Place is contaminated, property is being monitored remotely by surveillance, all persons and belongs will be seized in xx many days...etc. 

-I didn't find out until after I'd purchased the home that this neighborhood is one of the worst Superfund sites in the US for soil contamination (lead and arsenic mostly from the old smelters).