*
Hire the best land use/real estate attorney you can find to review your lease of purchase agreement. Don't use your business attorney or in-house counsel unless real estate is their specialty. If you're an attorney, hire another attorney. Brain surgeons don't operate on themselves. *
Hire a nationally networked broker. Make sure your broker is compatible with your attorney and your architect. The right broker knows the market and the listed and unlisted properties. *
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Make sure your broker represents you , the buyer, exclusively. Request a written agreement that allows you to terminate your relationship while protecting the broker's fees in a transaction he or she introduced and you completed, within a specific length of time. *
Don't agree to an unlimited time of representation. *
Hire your real estate team ( attorney, broker, architect) early. Implement and adhere to a schedule and define backup and contingency plans. *
Make sure your letter of intent to rent or purchase contains adequate time for the due diligence process. *
Don't allow the landowner to become your developer, contractor or architect unless you never want to see a full accounting of the cost. *
Have your accountant review the agreement after your attorney reviews it. Then have your attorney review it again. Source: CUES Credit Union Facilities Strategies, Planning and Management: Volume 3
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