Lewis O’Brien & Associates can assist with a number of site acquisition matters as well as purchase contract reviews and the due diligence process.
Generally speaking, site acquisition is the first step in the development process. In some cases however, access to and control of the site may be sufficient. If this can be done by way of joint venture or similar arrangement with the vendor, then it can save the costs of site acquisition. In this case, it is important the developer carefully considers how the construction costs will be funded.
Where the site is purchased, there are various techniques that can be used to try and accelerate the development and reduce developmental costs. With the right special conditions in the contract, the surveying and necessary applications can begin prior to settlement.
Another special condition that may be valuable is a due diligence clause. More commonly applied in larger purchases, it can give a developer certainty in relation to the site while a detailed due diligence is conducted.
If you want to know what else you should know about the contract you are about to sign or how to tailor it to your benefit – book a Purchase Contract Review with Lewis O’Brien personally. If we can’t add value that exceeds the low fixed fee for this service we’ll refund the fee.