Warnings - Buying a Property to Demo

[Walker Hinshaw]

I am looking to buy a property in Denver to tear down and build a spec home in its place. I was wondering what are the things I need to watch out for/be aware of besides lot location and size when picking a house to buy and demolish? Things like old trees (for permitting purposes), neighbors with loud dogs (for selling purposes), etc. 

[Anson Young]

On top of everything Bill said, there are 1000 things that have to be accounted for.  A good architect will help, to get the maximum out of the lot within your budget and the zoning requirements.  Resale is a bit trickier because while its pretty easy to comp out a 1-2 or even 3 month project, a new build is 9 months out and you will be selling in the winter season next year (Feb, Mar ish).  What will happen in 9 months?  Experienced developers and builders have the funding and backing and experience to weather the market shifts, but do you?  

Have you done any rehabs before?  Do you have a rockstar new construction contractor?  Do you have budget variance in place for the unexpected (asbestos, new sewer all the way to the tap, excavation issues, etc)?