Top ten list for the next buyer of Chuckanut Ridge / Fairhaven Highlands

If you happen to find yourself in the market for an 82-acre hilly swamp wholly encumbered by critical areas like steep slopes and mature-forested Category 1 wetlands in southwest Bellingham, here are a few things you might want to consider as part of your due diligence:

10) If you encounter a angry mob that resembles a crowd at a Grateful Dead concert, run!

9) Unless you’re planning on leaving this property in its natural state, find another one!

8) If you are in a business that is dependent upon strong relationships with members of your community (like a bank, grocery chain, or car dealership) – and you hope to retain your customers or even add new ones - resist any temptation to purchase this land and just say no!

7) Don’t ignore the red signs! Don’t ignore the red and green signs!

6) If you plan on having a partner in this venture, consider your choice VERY carefully!

5) When calculating your potential profit, don’t forget about the substantial costs of any prerequisites for development, like the widening of an aging concrete bridge or the construction of a road over steep hills and around protected wetlands!

4) If you’re foolish enough to purchase the property as is, without a permit in hand, make sure your contract includes a recourse provision so you can get your money back when your own permit application is denied!

3) Do not under any circumstances rely on advice from the seller’s attorney. Get your own!

2) If your attorney promises that your permit application will be on the fast track for approval, get that in writing!

1) If you think the opposition to development will simply wilt over time, think again!

Hope this helps. Good luck!

About Larry Horowitz

Commenting member • Member since Jan 16, 2008

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