Commercial real estate due diligence companies in Kansas City requires examining properties, ascertaining value, and tax filings. Newbanks, as one of the country’s primary lending institutions, helps with every step of the process.
What is commercial real estate due diligence?
Constructing a new business, buying an existing property, or bringing properties up to code for your industry is a complex process. You need to ensure that titles, deeds, and documents are all up to par with the regulations of the federal and state governments.
If an industrial organization produces guidelines to adhere to, you need to follow these as well. Merely ensuring the good title is not enough.
Commercial due diligence checklist
Due diligence for commercial real estate acquisitions come with a laundry list of requirements. Among them you must obtain:
- The most recent title or policy commitment on your desired property
- The most recent ALTA survey and topographic study as well as a copy of blueprints, engineering plans, and drawings in possession of the seller
- A legal property description
- Zoning Compliance certificates
- Environmental and other reports as required by your governing bodies
- An accounting of rent and other expenses
- Tax bills for the property
The list continues as defined by relevant legislation and regulations. Failing to complete the checklist may create a legal headache and issues selling a property later.
Property for gaming, healthcare, education, and manufacturing
Some of the most heavily regulated industries require the most extensive planning when building on and purchasing a property. Regulations compound over time to create a complex web of requirements.
Gaming, healthcare, education, manufacturing, and the hospitality industry are under immense pressure to provide adequate facilities. New limitations continue to affect these industries due as they serve large swaths of the American people.
Who can help me secure the commercial property?
With so many requirements, it is advisable to contact a business consultant specializing in property and even law. This will ensure that your plans are accepted without any undue burden.
Newbanks has nearly 60 years of experience in commercial real estate in the Atlanta area. Our experts provide third-party guidance for clients throughout the greater area.
Are property consultants worth the expense?
Failing to uphold state, local, and national regulations greatly impact your bottom line. The average cost for firms failing to comply with even the most basic regulations is hefty.
In 2019, firms failing to comply with regulations saw expenses ranging from thousands to hundreds of millions of dollars. This does not include the overall cost of lost business due to closure while issues are addressed.
Commercial real estate due diligence companies in Kansas City
Commercial due diligence requires a thorough examination of the documents and property you wish to purchase. The seller must be able to provide everything from blueprints to the tax bill.
Failing to comply with due diligence can create costs that your company cannot recover from. Newbanks consultants offer decades of experience in purchasing commercial real estate.
Our professionals are ready to help. Contact us today.Commercial Real Estate Due Diligence Companies Kansas City
View Larger Map