I am helping a client purchase raw land intended to be developed for commercial purposes. It is a large piece of Property. The client is paying cash. The due diligence includes an environmental wetlands study, zoning analysis, and municipal zoning assessment as to the current zoning and likelihood the zoning may (or could) be changed. There is not time to go through a complete due diligence with the time needed to obtain site plan approval and building permits. The client received a discounted price for a quicker cash closing but assumes more of the risk associated with future events.
Mitch
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