The specific terms requested by the Seller will usually reflect their level of motivation. In virtually every infill land transaction, however, there are several common aspects; most importantly the need for a relatively substantial due diligence period by the buyer to establish the feasibility of the desired entitlement. In deals involving riskier and/or more complex entitlements the requested due diligence period will be longer. Sellers unwilling or unable to allow reasonable due diligence timeframes (or closings that coincide with entilements) will oftentimes find that they are unable to get the price they had wanted.
Dec 8, 2008