Due Diligence Checklist For Multifamily Land Acquisition?
Hello,
I am interested in acquiring a parcel of land (3.4 acres) for a multifamily construction project. It is currently zoned multifamily with 27 total units density. I am interested in submitting an offer, or at least a letter of intent, to the property owner.
This is my first raw land acquisition and I want to make sure I do proper due diligence before I proceed with an acquisition. Does anyone have a sample due diligence checklist of items I would need to verify before I submit a hard offer/purchase agreement? I know I need to verify sewer/utilities, easements, setbacks, soil feasibility, floodplain, density, zoning, etc. but I am not sure if that list is 100% comprehensive of what I should verify? I want to make sure I do a comprehensive review and verify all relevant items necessary before I pony up with a purchase.
I have had a few conversations with people locally that say a Civil Engineer (there is a specific company I was referred to) that could likely do most of the research for me on the above-mentioned items/checklist. But, I wanted to check with some other professionals on BP to see if you could guide me in the right direction or confirm my thoughts on what I need to do for next steps. Again, just want to make sure I do a comprehensive due diligence check and am not missing something important.
Any advice is greatly appreciated!