Buyer Checklist

Patterson Woods
Commercial Properties
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(Some questions to ask when seriously considering a property)
In alphabetical order ; not order of importance

• ADA:     Does the property comply with the Americans with Disabilities Act, handicapped access, bathrooms etc.?
  
  

• Age of building(s): When were the buildings built?
  
  

• Air conditioning:     Is it in good operating order, how old, how many units, zoned, last service call?
  
  

• Asbestos:    Is there any asbestos on the site, has there ever been any, any cost estimates to remove, is owner willing to remove, check floor tiles, sprayed ceilings, insulated pipes, roof shingles, wall tiles?
  
  

• Basement Leaks:    Are there any, does it look like there may be some, does it smell damp, any water marks on floors or walls or boxes on floor, is there a french drain or sump or floor drains, report all questionable signs?
  
  

• Boundaries:  Can you describe and show the lot line(s), have you walked the property with the owner?
  
  

• Coastal Zone :     Is the property in the Coastal Zone, does the owner know this, does he have permission to operate there?
  
  

• Commission:      At the probable selling price, is there enough money left to pay the commission after deducting all mortgages, liens, transfer taxes, etc., Amount of commission, how paid by whom and when?
  
  

• Discharges: What effluent(s) has been discharged from the site, water, chemicals, down drains, through roof stacks or chimneys, through floor drains to ground or septic system or sewer, have any permits been issued for such discharges?
  
  

• Easements:  Are there any easements on the propertry which will interfere with your intended use such as underground pipelines, electrical lines, sewer lines etc.?  Does anyone have use of the property to access their adjoining property?
  

• Electrical System:     Is it in good operating order, up to code and not blowing fuses, last service call?
  
  

• EMF levels: What are the Electro Magnetic Field levels, are there any high tension electric lines on or near the property, is the property in line with any microwave transmissions?
  
  

• Environment:   Has a Phase I or II inspection been done, is one warranted, will a lender require on this property?
  
  

• Expectations:     What does owner expect, time till settlement, rezoning, subdivision, amount of commission, probable user?
  
  

• Financing:        How much will owner offer to hold in first or second position and the terms of said loan, report this on property description, any existing assumable mortgages?
  
  

• Floodplain:        Is any portion of the property a declared floodplain or look like it should be?
  
  

• Heating System: Is it in good operating order, oil, gas, or elect fired, how old, how many zones, annual operating cost, last service call, buried tank is how big and where is it?
  
  

• History: What were past uses, owners, is it a historical property, should it be, will historical society fight a sale, allow demolition, was the property previously listed, with whom and for how much?
  
  

• Inspection:       How can you or your agent/inspectors gain access to the property,  have key, who must be present for the inspections, name of contact person on site to call for appointment?
  
  

• Landscape Plan: Does the existing landascape plan conform with the Record Plan?
  
  

• Leases:  What are the terms and conditions of all existing tenant occupancies on the property, are they written, status of security deposits, do the tenants and owners agree on the terms and conditions, will tenants give estoppel certificates, are all rents current, declare any discrepancies?
  
  

• Lead: Is lead paint on the property, ever tested for, is paint chipping, was lead paint stored on property, was property ever used by painter?
  
  

• Liens: With whom, amounts, assumeable, reason, can you get permission to speak to lein holder?
  
  

• Office hours:  What are the regular office hours, cost to operate at other than normal hours?
  
  

• Ownership: Who is required to execute the listing/purchase agreement/deed, check of tax records and deed, is it fee simple, condo, cooperative, corporation, partnership and type?
  
  

• Parking:    How many spaces come with the site, private and marked or common, paved and other, cost to acquire more?
  
  

• Permits:    What permits, if any, are required to use and or occupy the property; their cost and time to secure?
  

• Plans (Const/Dev):      Do plans exist to develop the site, build more sq ft, additional building, are they approved/paid for?
  
  

• Plumbing System:     Is it in good operating order, all drains clear, toilets operable, no leaks, last repair, last service call?
  
  

• Public Trans:  Where is the nearest bus stop, Dart schedule?
  
  

• Radon: Has property ever been tested?
  
  

• Reason to move: Why is owner selling or leaving, ask for three reasons.. main reason and others?
  
  

• Representation:       Have you signed a representation agreement with a broker  so your interests are being looked after?
  
  

• Restrictions: What existing restrictions apply to the property, deed, community or industrial park, is this owner requesting limiting the property use(s) now/
  
  

• Roof:      Does the roof leak, how old is it, last service call?
  
  

• RPA Verification:   Is the property in a Resource Protection Area, which one, if so declare this on the property description form?
  
  

• Sewer System:    What is the sewer system, County, private, any problems, last time and frequency of septic clean out, charge to do it, is gravity feed or force main, where is the drain field?
  
  

• Sign:        Is there an existing sign; is it lighted, cost to install new, does existing sign meet code etc?
  
  

• Size:    Whose measurements are you using, have you confirmed the measurement personally by field measurements, what does the deed say, tax map measurements, are there conflicts between any of the sources that can not be resolved, report any conflict?
  
  

• Smells: Are there any unusual smells associated with or around the property, cause?
  
  

• Soil bearing cond:     Will the soil support a building, special footers, piling, any test data available, will owner permit soil tests?
  
  

• Spills: Have there been any spills of oil, gasoline or other hazardous materials, do you see any dark marks on the land areas, have there been spills on adjoining properties?
  
  

• Sprinkler:     Are there any, wet or dry, who supplies water, approx sprinkler standby fee, last time system was inspected by the underwriters, fire rating?
  
  

• Steep Slopes: Will the property terrain cause a loss of value due to steep slope legislation?
  
  

• Structural:    Is the building structurally sound, any cracks, bulging walls, extra roof loads, declared problems?
  
  

• Superfund proximity:  How close is this site to a known or disclosed potential superfund site?
  
  

• Survey: Is one available, has it been paid for, who did last one, check deed description?
  
  

• Taxes: Amount for county and municipality if applicable, are there any tax incentives in place causing a lower tax now, are the taxes paid to date or delinquent?
  
  

• Tenant Improvements:       Will the owner do improvements, amount offered, inhouse ability to do or must outside contractor be involved
  
  

• Termites: Are there any now, ever, when, who treated, existing policy, estimated cost to treat, any damage and will owner repair?
  
  

• Title:   Are there any title problems?  Can the seller deliver clear title; cost and time to cure any problems?
  

• Truck Access: What is the traffic pattern allowed for tractor trailer trucks?
  
  

• Underground tanks: How many, what is or was in them, where, how large, registered, will owner pay for removal, any cost estimates?
  
  

• Violations:       Does owner know of any existing, what are they, will owner cure?
  
  

• Water: What is the source of water, meter size, what is the potability and quantity, has quality been tested, any other user connected to the well, approx annual cost, where is the well located?
  
  

• Wetlands:      Is any portion of the property a declared wetland or look like it should be?
  
  

• Zoning: What is the zoning, does the zoning map confirm the owners opinion?
  
  

Contact Information

Our office hours are 8:30 AM to 5:15 PM EST  Monday through Friday; other times by appointment. 
Telephone
302-622-3500
800-220-2738
        302-622-3535   Fax

Office Address
3801 Kennett Pike, Bldg D  Suite100, Greenville, Delaware 19807

Electronic mail
cgwoods@magpage.com

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DE, PA,MD,NJ