Acquisition Checklist
1. Letter of Intent.
2. Purchase and Sale Agreement.
3. Earnest Money Deposit.
4. Review of Due Diligence Material provided by Seller during the Due Diligence Period:
title information (including, but not limited to, Seller’s existing Owner’s Policy of Title
Insurance),
surveys and survey information,
lease agreements, amendments, personal guarantees, corporate guarantees
service contracts
management agreements,
all site plans, all flood plain information, as-built plans and specifications, construction
documents relating to the construction of any improvements underground, at ground level,
or above ground, construction contracts relating to the construction of any improvements
underground, at ground level, or above ground,
all engineering plans and documents,
geotechnical assessments/studies,
environmental assessments/studies,
insurance policies, and insurance certificates,
licenses,
warranties,
all city, county, municipal, local, state, and/or federal governmental and/or agency
agreements, contracts, written understandings, permits, authorizations, and approvals
relating to and including, but not limited to: unconditional building permits, curb cut
approvals, signage permits, re-plats of the Property, development agreements,
development permits, construction permits, rezoning of the Property, tax incentives, tax
increment financings or “TIF Agreements”, tax abatements related to the ownership and/or
construction or improvement of the Property, assessment reductions and/or tax reductions
related to the ownership and/or construction or improvement of the Property, and the
Property being located within an “Opportunity Zone” (the “Governmental Permits”),
all documents related to utilities and usage of utilities,
financial statements for the previous three (3) years for the Property, and .
5. Investigations/Inspections of the Property during the Due Diligence Period:
a property condition assessment assessment/study of the Property,
environmental assessment/study of the Property (to include invasive testing at Purchaser’s
election),
an appraisal of the Property,
and such other tests, inspections, studies, and investigations of the Property as Purchaser
deems necessary in its sole discretion.
6. Draft of Organizational Documents for Acquisition Entity.
7. Equity Commitment from Investors.
8. Loan Commitment from Lender.
9. Review of preliminary Commitment for Title Insurance from Title Company/Escrow Agent
and Schedule B – II Exception Documents. Title Objection Letter.
10. Updated Survey.
11. Appraisal.
12. Meeting with/discussion with Tenants.
13. Zoning Compliance Letter.
14. Finalize Equity Documents.
15. Negotiate and finalize Loan Documents.
16. Draft Closing Documents for Property Acquisition.
17. Confirm Property Insurance in place at Closing.
18. Draft Closing Instructions Letter to Title Company based upon agreed proforma Owner’s
Policy of Title Insurance.
19. Finalize Settlement Statement for Property Acquisition.
20. Obtain an original Lease Agreement files and Property keys at Closing.
21. Close/confirm Equity funding.
22. Close Loan.
23. Close Property Acquisition.
