This article discusses considerations of a purchase and sale agreement for acquisition of development real estate. A well drafted agreement will limit the ability of the seller to encumber the property. Sellers need to appreciate the challenges that a buyer will face under the existing market conditions. The seller is advised to temper his desire to obtain the best price with the need to team up with the strongest development group possible. A seller will not win by signing an extremely favorable purchase and sale agreement with a developer who does not have the horsepower to make the transaction happen.

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