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Jones & Cnossen Engineering, PLLC: Foreclosed Development Property Evaluation


Foreclosed Development Property Evaluation

Before you buy, let us give you a better idea of the value of the property.

As an increasing number of development properties get returned to banks in foreclosure proceedings, potential buyers of these properties must factor in the unknown or hidden problems when evaluating the value of partially developed property. Jones & Cnossen Engineering is uniquely qualified to minimize risk to purchasers through inspections performed by professional civil engineers with over 40 years of experience in land planning, civil design and construction management.

Potential Hidden Problems

  • Incomplete permit inspections
  • Land planning or civil design problems
  • Wetland violations during construction
  • Erosion Control Violations
  • Improper Utility Installation
  • Grading or Survey problems
  • Paving Deficiencies

Why Should You Be Concerned?

  • Costly undisclosed construction problems
  • Construction violations can incur significant fines that accumulate daily
  • Developers in trouble may cut corners before defaulting on their loan
  • Clients seeking to buy these foreclosed properties need realistic costs for project completion.

By being aware of these problems and the estimated cost to remedy them, potential buyers can enter negotiations with sellers with a better idea of the risks of acquiring the development property and their development completion budget. When buyers have a better understanding of the positive and negative aspects of a development, a more equitable price for all concerned can be reached.

What Can Jones & Cnossen Engineering Do For You?

  • Provide a full engineering report on the condition of the property including:
    • Detailed analysis of the infrastructure installed
    • Background analysis of the infrastructure permits, inspections and approvals
    • Background information on development approvals and sunset dates
  • Estimate costs of repairs and /or project completion
  • Provide an as-built survey of the property and improvements
  • Produce maps showing current and future infrastructure
  • Assist in hiring and supervising contractors to fix problems needing immediate attention

Jones & Cnossen Engineering Qualifications

  • Stuart Jones, PE and Peter Cnossen, PE each have expertise in land planning, civil engineering design and construction management which saves you money by providing a complete analysis of the property by one professional engineer
  • Professional Engineering license for anywhere in North Carolina
  • Established firm in business for over 20 years
  • Provided construction management services on over 65 projects valued over $50 million
  • Excellent reputation with municipal governments and in the developer community
  • Reasonable cost for valuable information