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

Seyfarth Shaw LLP
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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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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

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