Case Study: Development Sale – Overcoming Obstacles
Challenge: The property, initially appealing due to its lakeside location, faced significant obstacles during the sale process. Within two months, six offers were procured, and went under contract with a national homebuilder, contingent on the availability of sewer capacity for development. However, twelve months into the agreement, it became clear that there would be no sewer capacity until mid-2026, leading to the termination of the contract. Advised to wait for sewer capacity to capitalize on the property’s full value, the owner refrained from aggressively pursuing a traditional purchaser. Further complicating matters, the property owner spent most of their time overseas, making communication and coordination more challenging.