real estate development

[Ryan K.]

I have a client who is potentially interested in purchasing a new construction condo in Chicago.  I was wondering...

• What are the risks of purchasing new construction?
• How can I help the client protect themselves from the risks of new construction?
• What is a developer's typical profit margin?
• How should I approach the negotiation / what are the levers I should "pull" to get the best price (i.e. I'm guessing them getting near list price for each unit is very important to them...so is it best to ask for credits at closing?)
• Are there any questions I have not asked that I should?

Thanks in advance!