A Purchaser’s Guide for Preparing a Closing Checklist in a Skilled Nursing Home Property Acquisition

Below is a guide generally outlining the types of questions a purchaser should consider when planning to purchase, finance or develop a property on which a skilled nursing facility exists or will be built.

 

Prior to acquiring any real estate, which will be operated as a skilled nursing facility (“SNF”), a purchaser should perform a thorough due diligence investigation as to any material facts or issues relevant to the intended use of the property and any ancillary uses. Generally, a commercial real estate seller will negotiate to limit its liability as to the property conditions in the purchase and sale agreement (the “PSA”). Accordingly, it is the purchaser’s obligation during the inspection period to conduct examinations and determine whether there are any problematic facts or issues relating to the acquisition. This article is intended to guide a purchaser in preparing a checklist that will assist in conducting a meaningful due diligence investigation for a property that is intended to be used as a SNF.

 

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