written by Berta Higgins
August 24, 2020
If you are interested in acquiring some acreage, then performing due diligence regarding the existing ground conditions and potential hazards is highly recommended. Hiring a local professional can help you make a better informed decision about the underlying geology, water issues, and natural hazards. They can also help you determine the underlying value of the land, identify potential challenges you might face, and assist with any mitigations needed to increase sustainable use of the property.
People dream of acquiring property for many reasons. It could be primarily a business decision, such as for housing development and large scale farming, or more personal such as aspirations to start a homestead and become more self-sufficient, desire to start a small farm, or just to have some space around you to call your own. Often the purchase of a property carries a lot of emotion behind it which can lead to hasty decision making. You may have waited years or spent a lot of time planning and are eager to move forward. That is very understandable and is part of the reason getting an impartial review of the property could help keep that dream from becoming a nightmare down the road. Whether as a corporation or as an individual buyer, anyone could benefit from a property review before and/or after the property has been acquired. Let’s discuss how a good geologist can help you know what you are getting into.
Ideally you will get a real estate analysis before a purchase is made. At this point you want information that will tell you whether the property is of the quality that you require based on the existing conditions and the intended future use of the land. An expert’s assessment can provide hard proof of any significant shortcomings which could help you with a successful price negotiation or lead to abandoning the idea of the purchase altogether and save you a bigger headache. If you have already made the purchase and later realize you would like your property reviewed, don’t despair, you can still get a lot of good information from an assessment to help you make decisions about how to develop the land and use the available water most efficiently. Here is what may be included in a professional geologist’s due diligence report:
- Observations from initial site walk through- Online maps and records can be helpful, but an in-person visit is invaluable. Keep in mind also that some of these online records can contain errors and should be verified.
- Prepared maps- Provide a solid understanding of the local geology and topography.
- Underlying soil- Determine what type of soil you have and whether it is suited to the desired use of the land. What is the soil fertility and how could it be improved?
- Geohazard potential- What is the geologic history of the area and are there any problems with potential instability, landslides or seismic shaking risk?
- Groundwater conditions- Will help you determine where your water is coming from. Will inform you of wells and where they are located or assist with identifying a new well location best suited for the property. Will recommend other options the property could support for water storage or irrigation needs.
- Water Rights- Understand state laws and whether you need to hire a certified water rights examiner. Does the property have any water rights associated with it, is there significant water right potential, or will you require water rights for the property of interest?
Once you determine the need of such an assessment, you may still be wondering, how much will it cost? This will generally depend on location, the size of the property and the scope or depth of investigation needed. A basic report with detailed maps, informed observations, potential hazards analysis and general recommendations could be five hundred dollars and may be sufficient for single family properties. It could save you time and money far exceeding the costs of the assessment.
A more thorough review with in-depth research and more detailed maps will require more hours and therefore cost more. After an initial consultation, an estimate or proposal would be provided and the fair value price would be negotiated to the satisfaction of all parties. If you also require water rights, that would be handled by a certified water rights examiner within the state of Oregon.
Now that you recognize the value of a review of your property, contact an HGX professional at https://www.hgxsolutions.com/ who can provide all these services including geology, water rights, GIS, and sustainability. As a professional geologist and certified water rights examiner, Mr. Higgins is very knowledgeable about geology and water and has experience working with diverse clients from large scale agriculture to small farmers and homesteaders. Here at HGX, we strive to be honest and personable. We will listen and be devoted to meeting your needs or getting to the bottom of any surprise issues that may come up. We want to help you realize your dream so contact us today even if it’s just to chat, talk geology, and test the waters of what’s possible. Use our contact form or email Michael Higgins directly at michael.higgins@hgxsolutions.com.