Case Study: Due Diligence Discovery
NRG Realty GroupThe Property
This property consists of 2 buildings totaling 5,684 SF on 2.11 Acres. The main building has 1,200 SF off office and 2,800 SF of warehouse with (2) 14’ x 14’ overhead doors. There is a 2 bed/1 bath house totaling 1,684 SF.
The Challenge
During the due diligence period, NRG Realty Group’s brokers and transactions team were able to determine the subject property had a septic system that was not permitted according to Odessa County.
The Solution
NRG helped the prospective buyer gather quotes for the permit and install of a new septic system. We used this information to negotiate with seller and was able to get a price cut to cover these new costs.
Transaction Details
NRG used market specific information and comps to start negotiations on this property. We were able to bring an offer $20,000 under asking that was accepted. During due diligence, the septic permit issue was uncovered and NRG was able to get another $20,000 off asking price. The buyer can now move forward with the permits and install of a new septic system. When you enlist NRG Realty Group, you enlist a partner who will assist in securing the best deal for you.
