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28 February 2020 | 13 replies
I would say, on very rough pricing from them, you are looking at rough estimate of $10k - $15k for ESA (Phase I environmental site assessment), PCA and Zoning and ALTA survey reports.
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26 March 2020 | 13 replies
Phase 1 Environmental Site Assessment (ESA)2.
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9 March 2020 | 14 replies
Inspections will include not just a physical inspection of the property, but also engineering assessments; environmental assessments; zoning and permit inspections; leases and service contracts and finances (3-5 years, preferable prepared by an accountant).
27 February 2020 | 10 replies
You can limit inspections in your offer to catastrophic plumbing, electric, foundation, structural or environmental issues.
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16 July 2020 | 4 replies
I spoke to a guy this morning that was rate conscious and after discussions about his deals, I was about 1 point higher than everyone else (he wasn't shy about telling me I was higher either).
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1 March 2020 | 4 replies
Have you checked with the local building dept (it’s usually in their website as well)-park impact fees-traffic impact fees-school impact fees-per unit charge for sewer/storm-check if you have room onsite to meet the required parking ratios (1.85-2 spots per unit is required out here)-check your phase one environmental as see if you’ll run into any issues on the property by expanding the footprint.Hopefully your building in an area that welcomes new development and most of these don’t apply.Best of luck to you.
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7 March 2020 | 4 replies
Further, broker selling the property want 6% commission, the buyer wants you to make needed repairs, pay for a survey, pay for title insurance, pay for an environmental report.
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21 March 2020 | 17 replies
Here's a list of what we ask for in our LOIs and contracts:Operating financial statements for the property, including income statements, expense statements, capital expenditures, for the last two years of operation and year-to-date financial statements for 2020.Prior two (2) years tax returns and addendums for the Property.Current tenant leases, tenant correspondence, tenant credit information, tenant security deposit register, and delinquency report.Onsite staff payroll records to include salary, bonuses, payroll taxes, benefits, etc.Monthly owner statements and rent rolls for the past 12 months.Contracts, service agreements, and files pertaining to the property.List of maintenance all maintenance requests (complete and incomplete) for the last two years of operations.Real estate tax billings and assessments and other correspondence pertaining to real estate tax calculations at the property.Copy of Insurance Policy and claims documentation (loss runs).List of capital improvements and any and all necessary related documentation and warranties.All existing warranties and guarantees from architects, contractors, and material and equipment suppliers, all of which would be assigned to Purchase.Any existing environmental Phase I/II reports, engineering reports, soil, mold, radon, asbestos, hazardous substance, termite, or other tests, studies, or reports.Any existing appraisals.Itemized inventory of all personal property.Twelve (12) months of utility, water and sewer bills.Twelve (12) months of bank statements.Verification of additional income from operations including but not limited to application, pet, late, and other fees, etc.Copies of title policies, title reports, land surveys, site plans, deeds, or any architectural plans for the property.History of or pending litigation against the Property, its owners, or its managers related to the Property or the operation thereof.Such additional information, documentation, or access as Purchaser shall require
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16 April 2020 | 10 replies
Some of the larger wholesale lenders in that space will charge you $1995 just to underwrite the loan and another $600 to close it not to mention the environmental survey as well as the cost of the appraisal BEFORE you even get to the measly 2 points the broker's going to make.
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10 March 2020 | 1 reply
I've found quite a few environmental engineering companies in Raleigh, but wanted to check with you guys first!